LLP Company Registration

LLP (Limited Liability Partnership) | Registration Services

Through limited liability act 2008, limited liability partnership entities were introduced. The basic premise behind LLP entities was to offer easy incorporation process and limited liability to owners. LLP company registration offers the benefit of both private limited and partnership entities. The limited liability is the only difference between normal partnership and LLP company. It is the most preferred type of company for small businesses who are not willing to do huge funding.

LLP can be registered with a minimum of two partners

  • One partner is not responsible for other partners misconduct
  • Each partner has his own liability towards the business

Advantages of LLP registration | Importance of LLP

The biggest advantage of LLP company is that it has the limited liability protection. The partners have no personal liabilities in case of any misconduct and loss in company.

No annual compliances, unlike pvt ltd and one person company there are no annual tax compliances for LLPs unless the annual turnover of the company exceeds 25 lakh and 40 lakh.

Limited liability partnership is a registered separate legal entity under The Companies Act 2013 by the government of India. An LLP is a legal entity and juristic person for the law.

The incorporation process of LLP company is very easy. And the ownership of LLP company can easily be transferred by transferring the shares of the company

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Procedure of LLP company registration-:

  • Step 1: Obtain Digital Signature certificate
    The first step in the process of LLP registration is to obtain DSC because all the documents need to be submitted in digital format with partners signature. The digital signature should be used by the file the registration, ROC compliance forms and the tax returns of the company.
  • Step 2: Director Identification Number
    DIN is an 8 digit unique Director identification number allotted by the Central Government to any person intending to be a Director or an existing director of a company. DIN has a lifetime validity. It mandatory to file DIN number by all the directors.
  • Step 3: Reserve Name
    Minimum one and a maximum of 6 name choices must be submitted to MCA. The name should be unique and not in prior use. Approval for the name can be obtained within 5-7 working days.
  • Step 4: LLP agreement
    In LLP company this agreement is very essential as it determines the mutual rights and duties among the partners and also between the LLP and the partners. This procedure of the LLP agreement has to be done within 30 days of the date of incorporation.
  • Step 5: LLP certification of Incorporation
    Submit the application and get the LLP certification. You have to submit all the documents to the registrar and the time frame is between 10-12 days. Once you are done with this you're ready to go.
  • Step 6: Apply for TAN, PAN & Bank accountAs soon as you get the incorporation certificate, you need to apply for the companies PAN, TAN & NSDL. It takes around 3 weeks to get done and the cost of this procedure is less than Rs.200.

Documents required for LLP registration

  • PAN Card of all the partners
  • ID Proof
  • Scanned passport size photo of the director
  • Bank statement of all partners
  • Rent Agreement/ NOC if property is one rent
  • Registered office proof

Frequently Asked Questions