Limited Liability Partnership (LLP) Registration
LLP was launched in India by way of the Limited Liability Partnership Act, 2008. The main edge of a Limited Liability Partnership is one partner is not liable for another partner’s misconduct or negligence. LLP is favoured by Professionals, Micro and Small businesses that are family-owned or closely-held.
Limited Liability partnership offers the benefit of limited liability to its owners and at the same time needs minimal maintenance. The owners of a private limited company have limited liability to creditors. In case of default, banks/creditors can only sell the company’s assets and not the personal assets of directors.
What Is Included In Our LLP Registration Package?
DPIN for 2 Partners
LLP Agreement
Digital Signature For 2 Partners
ROC Fees & Pan Card
Name search & approval
Free accounting software & GST filing
Procedure For LLP Registration
Complete Our LLP Form
You need to fill our simple LLP online questionnaire and submit LLP documents.
Obtain DSC and DPIN
You need to fill our simple LLP online questionnaire and submit LLP documents.
LLP Verification
You need to fill our simple LLP online questionnaire and submit LLP documents.
Document Submission
You need to fill our simple LLP online questionnaire and submit LLP documents.
Factors to Consider While Selecting an LLP Name
The Registrar of Companies (RoC) has issued naming guidelines for LLPs. You must follow the rules closely or your application may end up getting rejected, leading to a much longer process.
Meaningful
The name of your LLP company should be linked to your business. It must suit the company’s branding. For example, Lilliput means small the Lilliput is kid clothing brand.
Short & Simple
The name of LLP must be short and not be too long. Easy pronunciation for people and they can remember the company name at first go.
Unique Component
Name of your company should not be identical or alike to an existing company, business or trademark. You can go to search.legalraasta.com to verify if your company name is the same to others. You must ideally avoid plural version e.g., “Amazon’s” or changing just letter Case, spacing or punctuation marks in an existing company name.
Blacklist
Abstracts, adjectives and generic words are denied. So XYZ would be denied, as would Good Quality Biscuits. The words bank, exchange and stock exchange would also be denied.
No same Trademarks
There should not be a certified trademark by the identical name on the IP India website. If there is 1, the name can just be approved if you can get a NOC from its owner authorising, you to use it then only.
Suffix
The name of your LLP company must finish with the suffix “LLP” is a case of a limited liability partnership.
Descriptive Name
This means the word like” research” is a scientific word used in a company name of research it can be used in technical business, company’s name. You cannot use them in the name of the food chain as it is doesn’t relate to it.
Should not be illegal or offensive
While picking up an LLP name make sure u don’t go against the law. It should not be abusive or against the customs and beliefs of any religion and doesn’t harm anyone respect.
Steps To Register
Steps to form an LLP
Step 1: Digital Signature Certificate (DSC)
Before starting the process of registration, you must enrol for the DSC of the designated partners of the proposed LLP. Applying for DSc is important because the registration process of LLP is done online and requires to be digitally signed.
So, the LLP partners must get theiDSC from government-approved certifying agencies.
Step 2: Application of DIN (Director Identification Number) and DPIN ( Designated Partner Identification Number)
After applying for DSC the next step is to enrol for DPIN and DIN application for the proposed Partners of the LLP. Within a timeframe of 5 to 7 working days, DPIN and DIN. The application for allotment of DIN has to be made in Form DIR-3. You have to add the scanned copy of Aadhaar and PAN to the form. The form needs to be signed by a Company Secretary in full- time employment of the company or by the Managing Director, Director or CEO of the existing company in which the candidate shall be designated as a director.
Step 3: Name Approval and Reservation with ROC
LLP-RUN i.e. Limited Liability Partnership-Reserve Unique Name needs to registered for the reservation of name of proposed LLP. This is further treated by the Central Registration Centre under Non-STP. But before circulating the name in the form, it is suggested that you use the free name search facility on LegalRaasta portal. The system will give the list of exactly resembling names of existing LLPs. 1-6 is the limit proposed names are expected to be given to the MCA. The registrar will approve the name only if the name is not useless in the opinion of the Central Government and does not match any existing partnership firm or an LLP.
The Name approval process will take 5 to 7 working days. A re-submission of the form is made15 days in case of rejection.
Step 4: MOA & AOA submission
Once the name is approved, one requires to draft Memorandum of association and Articles of Associate. Both MOA and AOA are registered with the MCA with the agreement statement.
Step 5: Get Incorporation Certificate of LLP
The form used for incorporation is FiLLiP(Form for incorporation of Limited Liability Partnership) which must be registered with the Registrar who has jurisdiction over the state in which the registered office of the LLP is located. The form will be an integrated form. Incorporation documents can be presented to the MCA along with an application for incorporation. MCA will approve the application for incorporation within 5 to 7 days. Incorporation certification is proof that the company has been formed. It also involves your CIN number.
Step 6: Appeal for PAN, TAN and Bank account
Then you require to apply for PAN and TAN. PAN and TAN and receive in 7 working days. You can submit the Incorporation certificate, MOA, AOA and PAN with the bank for opening your bank account.
Step 7: Register for LLP Agreement
LLP agreement oversees the mutual rights and duties between the LLP and its partners.LLP agreement must be registered in Form 3 which is to be filled in 30 days of the date of incorporation.
Documents Required For LLP Registration
Copy of PAN Card of partners
Passport size photograph of partners
Copy of Aadhaar Card/ Voter identity card/ Driver’s license as address proof
Electricity/ Water bill/ Telphone bill/ Latest bank statement as proof of Registered Office (Business Place)
Copy of Sale Deed/Property Deed (If owned property)
Landlord NOC (Format will be provided)
Passport (in case of Foreign Nationals/ NRIs)
Digital Signature Certificate
Copy of Notarised Rental Agreement
Copy of NOC from the property owner
Frequently Asked Questions
What is the minimum number of Partners required to start a Limited Liability Partnership?
At least two partners are required for LLP registration. The maximum partners can be 200. If you are the sole owner, you can register as a One Person Company.
Who can become a partner in LLP?
Any individual/organisation can become the partner in LLP including foreigners/NRI’s. However, the individual must 18+ above in terms of age and should have a valid PAN card.
Do I have to be available in person to incorporate an LLP?
Our procedure is 100% online which means there is no compulsion for you to be present at our office physically. A scanned copy of documents can be sent to us via mail, and we will handle the rest. You will get the company incorporation certificate from MCA via courier at your business address.
Once I pay for the incorporation, is there any other payment before I get the Incorporation Certificate?
We do not have any hidden charges. Our system is quite transparent. After making your payment, we will send you an invoice that is all-inclusive, with no hidden charges. Our team provides you support till you get your LLP bank account.
How much money do I need to invest upfront in starting the business?
You need to have a bank account with a minimum balance, which could be as little as Rs. 5000. You need not invest any more capital in starting the business. You needn’t even deposit this amount to the bank. You can also show that the capital has been utilised as the pre-incorporation expenses of LLP e.g, LLP registration expenses. You can also show this capital has been infused in form of assets such as computers etc.
Can NRIs/Foreign Nationals be a Designated Partner in LLP?
Yes, but only after he has been assigned with DIN/DPIN. However, at least one designated partner in LLP must be a Resident of India. In fact, the foreign director can also be a majority shareholder in the company
Can I register the LLP at my home address?
Yes, you can register your LLP at your residential address. It is perfectly legal to start the company at your home or in your garage. MCA team typically doesn’t visit your office. You just have to provide your home address proof such as rent agreement or electricity bill.
In which cities does LegalRaasta provide LLP formation services?
LegalRaasta provides LLP incorporation services across India in all cities. We have done LLP registration in Mumbai, Delhi, Gurgaon, Noida, Bangalore, Chennai, Hyderabad, Ahmedabad, Kolkata, Surat, Pune, Jaipur, Lucknow, Kanpur, Nagpur and other Indian cities.