Limited liability Partnership registration in india - LEGALAGI by SOFTRE ® | Register, Comply and Protect your Business

Limited liability Partnership Company Registration in India

Through 100% online process, we provide fast and economical service to register a limited liability partnership company.

Starting at ₹5998*

What is a Limited liability partnership in India?

A Limited Liability Partnership is the newest type of business entity that was introduced in 2008 by the Ministry of Corporate Affairs.

Limited Liability is shortly known as LLP. Basically, it is a lawful partnership between two or more business partners just similar to a private limited company. Each business partners are provisioned with limited responsibility which means they are not completely responsible for the business debts or accountabilities.

Partners in LLP are not responsible for insignificant action or violation of a single partner. Each partner is liable for their own actions.

Limited Liability partnership Registration Benefits

Convenient :

It is very simple to start and manage a business like entrepreneurs. LLP agreements are personalized according to the requirements of partners involved.

Minimum capital :

It can be started with a minimum amount of capital money. Capital money can be substantial(real), assets like land, machinery or intangible form. In case of private limited company and public limited company the capital money required is Rs.1,00,000 or Rs. 5,00,00. Whereas no such necessary capital is required under LLP.

Two Partners Minimum :

LLP requires a minimum of two business partners. It can be varied from 2 or more business partners. There is no such restriction on the maximum number of business partners in contradiction to a private limited company wherein there is a restriction of not having more than 200 partners.

Cost of registration is less :

The cost of registration is low compared to other companies like private and public limited company.

Compulsory audit is not required :

In LLPs, it is not mandatory to audit the accounts.But it is necessary to audit the accounts in the following circumstances

*when LLP exceeds the contribution of Rs.25 Lakhs.or

*when LLP exceeds the annual turnover of Rs.40 Lakhs.

Limited Liability Partnership Registration FEES: How much does it cost to start an LLP in India?

The Cost of LLP Registration in India would start around INR 5,000/- to INR 10,000+ depending upon the No. of Partners, No. of members, authorized capital and Professional fees.

Professional fees vary on the complexity of the business formation.

Starting at ₹5998*

How to search a LLP registration name availability?

Go to MCA’s official website

Open MCA Website

The Registrar of Companies (RoC) which is part of MCA across India expects applicants to follow a few naming guidelines. Some of them are subjective, which means that approval can depend on the opinion of the officer handling your application. However, the more closely you follow the rules listed below, the better your chances of approval.

The first part of the name should be a unique and not similar or trademarked name. The second part/suffix should be describing the area of business. The name will end with LLP.

For Eg., Salubrity Nutritional Ventures LLP

Abbreviations, adjectives and generic words are rejected.

Consult us for specific advice on getting your desired legal name for your company

Documents required to register a Limited Liability Partnership

Registered Office Address Proof & Legal Documents Regarding the same.

Utility Bill as proof must be Latest less than 30 days old

NOC from owner of premises + Rental agreement OR sale deed

Signed Declaration (s) from Promoters.

Email of LLP

Mobile of LLP

Address Proof Documents

Bank Statement or Passbook with the transaction entry less than 30 days old,

Electricity Bill in the name of the promoter less than 30 days old,

Telephone bill, or any other Mobile Bill less than 30 days old,

Utility bill in the name of promoters like Gas Bill less than 30 days old,

Documents to be Submitted by the Partners

Photographs of Partners.

PAN Card of Each Partner.

AADHAAR

Passport if available

Address Proof of Promoter

Mobile Number (personal)

Email (personal)

NOTE: Further documents and scrutiny can be made on a case by case basis which is beyond our control.

LLP Registration Process:(with time required)

To register an LLP, it takes minimum of 5 working days* to process if all documents are received without any issues.

The issues arise when there is name mismatch between identity documents of partners.

We will help you with all the documents through our Documents verification team.

Frequently Asked Questions

What are the minimum requirements to register a LLP in India?

There must be at least two individuals to be appointed as Designated Partners, out of which one must be an Indian resident. Also, there is a pre-requisite to have an address of a business in India so as to register it as a registered office for your LLP.

Is there any minimum capital requirement for LLP registration in India?Is there any minimum capital requirement for LLP registration in India?

No. There is no minimum amount prescribed to form an LLP in India. It can be started with any amount of capital demanded by the business. Although there is no minimum requirement, every partner must make a contribution financially to form LLP. The amount of capital contribution is disclosed in the LLP Agreement and amount of stamp duty is decided by the total contribution amount.

How to reserve the name for a Limited Liability Partnership?

LLP name availability is as an essential part for an online LLP registration. The name of an LLP is reserved through a web based form named “LLP-RUN” (Reserve Unique Name). The partners can provide maximum of 2 names in preferential order to reserve any one. The registrar may ask to re-submit the application with different name, if names do not fall under criteria of uniqueness, relevancy or does not fulfil the necessary requirements.

What are the requirements to be a Partner/ Designated Partner for LLP formation in India?

There are no limitations in terms of citizenship or residential status to be a Partner in LLP. Therefore, the LLP Act, 2008 allows Foreign Nationals, including Foreign Companies & LLPs to incorporate LLP in India. The pre-requisite is to have at least one Designated Partner who is a resident of India. However, the person should be of the age 18 years. This is to ensure that the person in LLP is not a minor and competent enough to enter into contract. Also, the proposed Designated Partner shall have DIN.

What is the Director Identification Number (DIN)?

Director Identification Number is a unique number assigned by the Ministry of Corporate Affairs to Individuals on whose name the application is made, allowing an individual to be a Director in any Company or Designated Partner in an LLP.

What is Director Identification Number (DIN)? Is DPIN is required for LLP Registration?

The concept of DPIN (Designated Partner Identification Number) is replaced by DIN with respect to the LLP incorporation. Director Identification Number is a unique number assigned by the MCA to Individuals on whose behalf the application is made. This allows any individual to be Director in any Company or Designated Partner in LLP.

The application of DIN allotment is made with incorporation application in FiLLiP subject to maximum 2 DIN.

What is a Digital Signature Certificate? Who shall procure DSC for Limited Liability Partnership Registration?

Digital Signature Certificate for LLP is provided in the form of a token and issued by Certified Authorities. Any form filed for incorporation of Limited Liability Partnership (LLP) in India online shall be submitted after affixing the DSC of the designated partner.

Whether a place of office is required for online LLP registration?

Yes, the partners must provide a place of business in India with the required list of documents. It can be both – a residential or commercial plot. In most cases, the address is used for the communication purpose by the MCA and other concerned authorities and is also published on its portal.

What is LLP Agreement? Does it require filing with MCA?

LLP Agreement is an agreement executed by all partners after LLP incorporation in India. The agreement prescribes all the clauses related to business, including the rights, roles, duties, and responsibilities of partners in LLP. The agreement must be filed within 30 days of the issue of a certificate of incorporation. Failure to do so will charge an additional fee of ₹ 100 per day till the date of filing.

How Stamp Duty amount is decided for LLP Agreement? Whether notarization is necessary?

The amount of capital contribution is taken into consideration in deciding the stamp duty on the LLP Agreement in India. The rate of stamp duty varies from State to State. The State Stamp Act will be applied depending on where the registered office is situated. The amount of ₹ 500 is included in our package cost. Further, the Notary on the Agreement is not a statutory requirement and not required by the MCA. A notary can be required by the bank officials but is not mandatory for incorporation of an LLP.

Can an LLP carry on more than one business activities?

Yes, a Limited Liability Partnership registered in India can carry on more than one business subject to their relevancy. The activities must be related or in the same field itself. Unrelated activities such as Interior Designing and Legal consultancy cannot be carried under same LLP. The business activities are mentioned in the agreement and must be approved from RoC.

Whether LLP can be registered for Not-for-profit activities?

No, one of the essential requirements for setting up LLP is ‘carrying on a lawful business with a view to profit’. Therefore, LLP cannot be incorporated for undertaking “Not-For-Profit” activities.

When can I get the PAN and TAN of the LLP?

The PAN and TAN used for the LLP formation can be applied once the Certificate of Incorporation of the Limited Liability Partnership is issued. The physical copy of the PAN will be received at the Registered Office once the same is dispatched by the Income Tax Department.

What are the compliance requirements once LLP is registered?

Once online LLP registration completes, the partners must open a bank account in the name of LLP for business transactions. There is no additional requirement to be fulfilled. However, the partners must deposit the agreed amount to contribute as and when required. Furthermore, the annual compliance filing must be fulfilled every year upon LLP registration.

Can an existing partnership firm or company be converted to LLP?

Yes, an existing partnership firm or a company (unlisted) can be converted into LLP. There are many advantages to converting a partnership firm into an LLP.

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