What Is Limited Liability Partnership Registration?

A Limited Liability Partnership (LLP) combines the benefits of a partnership and a corporation, offering entrepreneurs the advantages of both worlds. In India, LLPs became popular in 2009 because they provide a simple business structure that protects owners from personal liability.

To register an LLP in India, you need at least two designated partners, with one residing in the country. The LLP agreement outlines the roles and duties of these partners, who are responsible for following the LLP Act, 2008. This type of business structure is commonly chosen by law firms, accounting firms, and others in professional services.

LLPs offer benefits like limited liability and easy compliance, making them attractive for various businesses.

A Limited Liability Partnership (LLP) is like a partnership but with added protection. It's a type of business where two or more partners come together, but unlike in a traditional partnership, one partner isn't held responsible for the mistakes or actions of another.

In simpler terms, an LLP is a mix of a partnership and a corporation. It offers the flexibility of a partnership while providing the partners with limited liability, meaning they're not personally responsible for all the debts and obligations of the business. This setup gives the LLP its own legal identity separate from its partners, and the partners are only responsible for a certain amount of liability.

Advantages of Choosing Limited Liability Partnership Registration?

A Limited Liability Partnership (LLP) is like a blend of a partnership and a corporation. It offers the limited liability protection of a corporation while allowing its members to manage things internally, similar to a partnership. Here are some key features explained in simpler terms:

  1. Limited Liability: Partners are only responsible for the amount they invest in the business, protecting their personal assets from business debts.
  2. Simplicity: Setting up and running an LLP is easier compared to a Private Limited Company.
  3. Perpetual Existence: An LLP exists independently of its partners, so changes in ownership don't affect its existence.
  4. Minimum Partners: You only need at least two partners to form an LLP.
  5. Separate Legal Entity: An LLP is its own legal entity, capable of owning property and handling its obligations.

Unlimited Partners: There's no limit on the number of partners an LLP can have, providing flexibility in ownership.

 

Benefits of Registering an LLP

The benefits of registering an LLP expressed in simpler terms:

  1. Asset Protection: Your personal belongings are safe if the business faces financial trouble.
  2. Enhanced Reputation: An LLP appears more trustworthy and respectable than regular firms.
  3. Simple Compliance: It's easier to meet legal obligations compared to running a company.
  4. Audit Flexibility: Until your business reaches a certain turnover, you don't need to worry about audits.
  5. Continuity: The business remains unaffected even if partners leave or join.
  6. No Mandatory Initial Investment: You're not required to invest a specific amount of money to start the LLP.

Who Can Register for Limited Liability Partnership?

1) Minimum Number of Partners

To set up a Limited Liability Partnership (LLP) in India, you need at least two partners.

2) Indian Citizenship Requirement

At least one of the partners must be an Indian citizen, as per Indian law.

3) DPIN Number

All partners of an LLP must obtain a unique identification number known as DPIN.

4) Physical Office Address

The LLP must have a physical office address where it conducts its business operations, as mandated by the Limited Liability Partnerships Act, 2008.

5) Digital Signature Certificate (DSC)

All partners are required to obtain a Digital Signature Certificate, which is essential for electronically signing documents and filings.

6) Unique Name

The chosen name for the LLP must be distinct and not resemble any existing registered Indian companies or trademarks.

How to Apply for LLP Registration?

Our experts are here to guide you through the seamless LLP Registration process. Registering your LLP is a breeze with our online platform and simplified steps:

Step 1: Talk to our consultants who will assess your eligibility and outline the required documents.

Step 2: Our team will help you discover an available name for your LLP registration.

Step 3: We'll guide you through the process of obtaining Digital Signature Certificates (DSC) and Designated Partner Identification Numbers (DPIN) for your LLP partners.

Step 4: Our team will take care of preparing all the required ROC forms and drafting the LLP agreement.

Step 5: Once everything is set, we'll proceed to apply for your Certificate of Limited Liability Partnership, along with delivering the LLP deed.

Essential Documents for LLP Registration

Documents Required from LLP Partners

1. Photo

2. PAN Card

3. Aadhar Card

4. Address Proof *

5. Identity Proof **

 Proof of Registered Office Address for LLP

1. Latest electricity bill

               OR

Any other utility bill under the owner's name

2. Rent agreement between owner & company promoter

                                    OR

NOC from Owner (if owner is the company's promoter)

 

#Acceptable Address Proof: Bank Statement, Electricity Bill, Telephone Bill, Mobile Bill (Any, not older than 2 months).

##Valid Identity Proof: Driving License, Voter ID card, Passport (Any).

Now, if you're a foreign national or NRI looking to start a business, here's what you need:

For Foreign Nationals/NRIs

1. Passport is Mandatory.

2. Additionally, provide address evidence such as a driver's license, bank statement, residence card, or any Government-issued ID with an address.

3. If documents are not in English, provide a notarized or apostilled translation.

Easy Steps to Register Your LLP: A Simple Guide

The entire process, including getting approval for DIN, deciding on the LLP name, and completing the LLP registration, usually takes around 7-10 working days. However, setting up an LLP has become faster now, thanks to a streamlined online platform where all paperwork can be submitted. Our team of experts will assist you through the entire LLP registration process

Day 1:

  • Apply for Digital Signature Certificate.
  • Check availability and reserve LLP Name.

Days 2-3:

  • Draft LLP incorporation document.
  • File LLP Registration application.
  • Apply for DIN allotment for Designated Partners.
  • Receive Certificate of LLP Incorporation.

Days 4-5:

  • Apply for PAN and TAN for LLP.
  • Draft LLP Agreement.

Days 6-10:

  • Pay Stamp Duty.
  • File LLP Agreement.

Our professionals will guide you through each step, making LLP registration a quick and hassle-free process.

How We Assist with LLP Registration?

Discover Seamless Online Company Registration Services in India

Benefit from our hassle-free and precise LLP Registration Service, supported by a proficient team. With over 1000 successful registrations and a deep understanding of MCA's latest protocols since 2012, we ensure MCA compliance and a flawless registration process.

Our team comprises seasoned professionals adept at LLP Registration across various industries. From Chartered Accountants to Lawyers and Company Secretaries, our diverse experts handle transactions, taxation, and accounting matters in India proficiently. Plus, our service is cost-effective.

Now, it's time to kickstart your business journey with comprehensive legal formalities. Count on our guidance at every step as you embark on your business growth trajectory.