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Limited Liability Partnership (LLP) Registration
Limited Liability Partnership (LLP) offers limited liability protection for an association of persons doing business. LLP is ideal for small businesses. RandL offers LLP registration from Rs.10,000/-
Note: Including Professional Fees and Government Fees
Easily Register a (LLP) Registration
Overview for Easily Registering a (LLP) Registration
A sole proprietorship is a type of enterprise in which business is owned and managed by an individual. In a sole proprietorship business there is no legal difference between the owner and the business. To put it in another way a sole proprietorship is not a legal entity, where an is responsible for clearing off the debts of business. The sole proprietorship is a preferable and popular business form. It is simple and easy to form at nominal cost.
What is Limited Liability Partnership Firm?
LLPs or Limited Liability Partnership is a type of business structure which offers extra benefits in comparison to partnership firm. It provides limited liability to its partners at a very nominal compliance costs. Moreover, the Partners of the firm can organize their internal structure like a partnership firm.
In short, LLP is a separate legal entity from its member that has the power to extend all its assets keeping the liabilities of partners limited. Hence, a Limited Liability Partnership is a hybrid of a company and a partnership firm.
Advantages of Easily Registering a (LLP) Registration
- Enjoys The Status Of Corporate Bodies
As per Section 3 of the Limited Liability Partnership Act, 2008, under LLP registration a firm is a corporate body which has come into force with effect from April 1, 2009. The Indian Partnership Act 1932 is not applicable to LLP.
- Perpetual Succession
A Limited Liability Partnership firm has a benefit of perpetual succession and can continue its existence even after the retirement, death, insanity of one or more respective partners in the firm.
- Shares Limited Liability
The most important feature of LLP is limited liability that all its partners should entertain which means their personal assets are safe and won’t be used to pay the losses or debt of the firm. Apart from it, innocent partners of a Limited Liability Partnership firm are not liable to pay for the wrong deeds done by some other partner.
- Fewer Credentials Are Required
A person can start an LLP firm with just two partners out of which one should be an Indian resident. The designated partners of limited liability partnership firm can either be an individual or a corporate body. Moreover, there is no specific capital requirement to incorporate a limited liability partnership firm registration.
- Quicker Decision Making Process
An agreement is printed on a stamp paper and signed by all the partners that define their roles and duties in the firm. It helps them in the decision making process.
- Easy Online Registration And E-Filling
MCA has simplified LLP registration and made it an easy online procedure. The forms and the documents are filed electronically on the official MCA portal. A designated partner of a limitedliability partnership firm has to obtain DSC to sign these documents and forms.
- Easy Conversion
If a public or private company or a partnership firm decides to emerge as a limited liability partnership, they can easily convert as per the provisions of the applicable act.
- Efficient Business Management
The business is managed by the respective partners as per their roles and duties. The designated partners of the firm are responsible for the legal compliances.
- Profit Sharing Business
Profit is equally shared amongst all the partners of a limited liability partnership firm. An LLP registration cannot be incorporated for a charitable purpose. Its purpose is to carry on business activities with an aim to earn profit.
Registration Procedure for Online Limited Liability Partnership Firm
LLP registration is an easy online procedure that can be accomplished within 4 registration steps and 3 post incorporation steps. Here is the step by step guide for Limited Liability Partnership firm Registration:
- Firm’s Name: Apply For Name Approval
The third step under LLP registration is reserving a name for the limited liability partnership firm. For that, an applicant has to file LLP-RUN form. The name should be unique and non-offensive. For this, you can use the free name search facility available on the MCA Portal. The system is quite helpful and provides a list of names resembling with your firm’s name. This would help you to select an appropriate name. An applicant can provide up to 2 names that would be further analyzed by the registrar of companies. In case of rejection/objection, you can re-submit your form after 15 days of the rejection.
- Login On MCA Website: – You have to create a login account on MCA Website whereas the pro-existing users can utilize earlier account also. You have to click on the emblem “RUN” in MCA Service after Login. An online form will be displayed where an applicant have to fill the information online which can’t be downloaded.
- Details To Be Mentioned In Online Form: You have to provide information, such as- Entity type LLP, LLPIN (when an existing company desires to change its name and is utilizing RUN to reserve a new name for approval), Proposed name (under the Auto Check Facility), Comments (cite Objects of the proposed LLP and any other pertinent information Like Trade Mark etc.), Choose File (Any relevant attachment)
- Choose File – PDF And Submission On MCA Website: – It is available to upload the PDF documents. User shall submit the Form with MCA website after completion of above steps.
- Payment Of Fees And Validity Of Reserved Name: It must be noted that there is no option of pay later challan in the Online form “RUN”. Therefore, the applicant has to pay fees right away after submission of form, and the challan shall be generated afterwards. Moreover, the reserved name will be valid for 20 days from the date of approval of Firm’s Name
Note: – It Must Be Noted That The DSC And The DIN Shall Not Be Needed For Filing The Online Form RUN, DSC & DIN not required for filing of RUN form for reservation of Name. Only account of MCA portal is mandatory. Moreover, only one Resubmission of application is permitted in case of reservation of Name. Two Names can be inserted in RUN form. As per “Register office Fees Rules”, Fees shall be Rs. 1,000/-. You must note that it Is Not Mandatory To Attach Documents While Reserving Name
- Firm’s Incorporation
Once the name has been reserved for the limited liability partnership firm registration you can move ahead to the incorporation of your LLP. For this, you have to file FiLLiP i.e. Form for incorporation of Limited Liability Partnership. It is filed with the registrar of the firm of the respective state in which the registered office is situated. Applicant has to pay a particular amount of incorporation fees as per the Annexure “A”.
All the documents and applications are duly checked by the authorities and if all goes well, incorporation certificate will be issued.
Documents Required for Online Limited Liability Partnership Firm Registration
Here is a list of documents required for registration:
Documents Of Partners:
- ID Proof/PAN Card of the Partners.
- Residential Proof of the partners
- Copies of Passport size Photograph
- Passport (in case of Foreign Nationals/ NRIs)
Documents Of LLP:
- Copies of the Proof of Registered Office
- DSC-Digital Signature Certificate
Documents of Partners
- ID Proof/PAN Card/ Of Partners
All the partners of the firm are needed to provide their PAN card at the time of registering Limited Liability Partnership.
- Residential Proof Of Partners
Partner must submit anyone out of Passport, Driver’s license, Voter’s ID, or Aadhar Card. Moreover, the name & other details as per address proof & PAN card must be exactly same.
Partners should also provide their passport size photograph, preferably on white background.
- Passport (In Case Of NRIs/Foreign Nationals)
Foreign nationals & NRIs have to submit their passport by mandatorily for becoming a partner in Indian Limited Liability Partnership. Passport has to be duly notarized by the concerned authorities in the country of such foreign nationals & NRI, in addition Indian Embassy placed in that country can also authorize the documents.
They have to submit a proof of address also which will be a bank statement, driving license, residence card/any government issued identity proof including the address.
Documents of LLP
Proof Of Registered Office Address
Proof of registered office must be submitted during the LLP registration within 30 days of its incorporation.
If the designated registered office is taken on rent, in that case the rent agreement and a NOC- no objection certificate from the landlord must be submitted. No objection certificate will act as the consent of the landlord to give permit the LLP to use the place as ‘registered office’ and operate its business.
In addition, anyone document out of utility bills like electricity, gas, or telephone bill must be submitted along with the application. Those bills must contain complete address of the located premise and owner’s name & the document shouldn’t be older than past 2 months.
Digital Signature Certificate
One of the designated partners of the LLP needs to opt for a DSC (digital signature certificate) as all documents & applications will be digitally signed by the concerned signatory.
Check if your firm qualifies for LLP in India
Starting a business requires certain specific requirements to be fulfilled to be eligible for registering as an LLP.
The normal partnership structure and LLP share the same attributes when it comes to internal management, profit distribution and tax liabilities. But, it offers the partners less financial liability (limited liability).
Any business who has:
- At least two partners are required to form an LLP. There is no limit to the maximum number of partners
- The nomination of a natural person, if a body corporate is a Partner
- No shared capital requirement, though each partner must have an agreed contribution towards it.
- Minimum capital contribution: There is no minimum capital requirement for an LLP (or a company, for that matter). The LLP should have an authorized capital of at least Rs. 1 lakh.
- At least one Designated Partner as an Indian resident
- DPIN for all Partners
- DSC for all the Designated Partners
- Address proof for the office of LLP. The registered office of an LLP does not have to be a commercial space. Even a rented home can be the registered office, so long as an NoC is obtained from the landlord.
- With regard to the changes in the FDI regulations dated November 10, 2015, foreign investors are now permitted to have a 100% FDI in the automatic route LLP. The 100% FDI in the LLP is granted to foreign companies who operate in activities or sectors where 100% FDI is considered permissible through the channels of the automatic route. Also, there should not be any performance prerequisites that are linked to FDI. A definite interpretation of the terms such as ‘ internal accruals’ and ‘ownership and control’ has been provided with reference to the LLP. Thus, Foreign investment is made smoother and quicker with FDI in LLP.
- The LLPs will also be permitted to opt for downstream investment in a different company or even choose LLP in those sectors which allow 100% FDI in accordance with the automatic route. This does not come up with any performance constraints that are FDI linked.
The Ministry of Corporate Affairs comes up with updates to LLP process and takes care of them for you.
DSC for one director and DIN for up to three directors
Drafting of MoA & AoA
Registration fees and stamp duty
Company Incorporation Certificate
We also provide assistance with:
A first free consultation, followed by subsequent meetings to clear every concern you may face.
Complete support on opening a Current Bank Account
Comprehensive and on-time updates on ROC compliances.
Online Accounting Software valid for one year.
A Master file that contains all the documented needed to file the incorporation.
A Dedicated service manager is present at all times.
Being a seperate legal entity from the existing partnership firm, LLP will have its unique name pan card so it is required a new/separate GST Registration on the name of LLP