Limited Liability Partnership (LLP) is a body corporate formed and registered under the Limited Liability Partnership Act, 2008 and is a legal entity separate from that of its partners. LLP has perpetual succession. Any change in the partners of LLP shall not affect the existence, rights or liabilities of the LLP.

Every LLP shall have at least two designated partners who are individuals and at least one of them shall be resident in India. In case of an LLP in which all the partners are bodies corporate or in which one or more partners are individuals and bodies corporate, at least two individuals who are partners of such LLP or nominees of such bodies corporate shall act as designated partners.

The main object behind is that one partner should not be liable for the acts or negligence of other partners. It combines the features of Partnership and a Company like separate legal entity, limited liability etc. Further, it involves less legal formalities and is easy to register.

Unlocking Growth: A Comprehensive Guide to LLP Registration in India

Limited Liability Partnerships (LLPs) have emerged as a preferred choice for businesses in India due to their flexible structure and reduced compliance requirements. LLP registration offers entrepreneurs a unique blend of partnership and corporate features, ensuring limited liability protection while fostering collaboration. In this guide, we delve into the intricacies of LLP registration in India, providing a roadmap for aspiring business owners.

Understanding LLP Registration:

LLP registration in India is governed by the Limited Liability Partnership Act, 2008. It offers a corporate entity structure with the flexibility of a partnership, making it ideal for small and medium-sized enterprises (SMEs) and professional service providers. To initiate the registration process, partners must first obtain a Digital Signature Certificate (DSC) and Director Identification Number (DIN) for designated partners.

Documents required for registration of LLP in India

The following is the complete document list for LLP Registration in India

Passport size photograph of all the partners
PAN Card of all partners
Business Address Proof
Rented/leased: (Rent Agreement, NOC from the Owner, Latest Govt. Electricity Bill or Water Bill)
Business Address Proof
Owned Property : (Copy of Registry and Latest Govt. Electricity Bill or Water Bill)
Proof of Address (Utility Bill/Bank Statement/Telephone Bill which should not be later than 2 months)
Proof of Identity (Driving License/Voter ID Card/Passport) of the Partner
Disclosure of interest in other entities
Consent Letter

Minimum Requirements For Limited Liability Partnership(LLP) registration in Delhi

There are certain minimum requirements to proceed with the LLP registration. Such requirements are as follows

At least one Designated Partner should be Indian Resident
Minimum two Designated Partner
DIN of the Designated Partners
No Minimum Capital requirement.
Digital Signature Certificate of one Designated Partner
Contribution whether tangible or intangible property or other benefits of LLP

LLP Registration Process

Name Availability for LLP Registration in India

LLP registration begins with selecting a unique name for your partnership. Remember that the name should not be identical or similar to any existing LLP or company. A catchy and distinctive name can leave a lasting impression on your clients and partners.

Obtain the DSC & DPIN of partners for LLP Registration

E-filing for incorporation of a LLP

Once the name is approved, an online application is required to be filed through E-Form Fillip along with the requisite documents as obtained with ROC

Get Certificate of Registration of LLP

Once the name is approved, an online application is required to be filed through E-Form Fillip along with the requisite documents as obtained with ROC

Filing of LLP Agreement

Within 30 days of the incorporation, LLP Agreement as drafted by our team will be shared and after approval from the partners it will be printed on the stamp paper and will be filed with the Registrar of Companies.

Key Benefits of LLP Registration:

Limited Liability: Unlike traditional partnerships, LLPs provide limited liability protection to partners, shielding their personal assets from business liabilities.
Flexibility: LLPs offer operational flexibility, allowing partners to manage the business as per the LLP Agreement while maintaining statutory compliance.
Separate Legal Entity: LLPs enjoy the status of a separate legal entity, enabling them to enter into contracts, own assets, and sue or be sued in their own name.
Tax Advantages: LLPs are taxed at a lower rate compared to companies, making them a tax-efficient choice for entrepreneurs.
Less Compliance Formalities: The Limited Liability Partnership involves less compliance burden in comparison to any other corporate entities in thereby making it cost friendly also.
Lower Registration Cost: The cost involved in registration of a Limited Liability Partnership is much less than any other corporate entity.
Flexible Agreement : LLP Agreement can be modified as per the requirements of the partners like addition or removal of partners, banking transactions.
No compulsory requirement of Audit

LLP Registration step by step Process:

Submission of the documents and details to our email Id support@cabkgoyal.com or whatsapp number 9971782649
Scrutiny of the documents and details by our office
Application for Digital signatures of partners from our office
Filing of Incorporation forms with government for approval of LLP Registration with CA certification (as may be required)
Issuance of LLP Registration Certificate, LLP Pan Card and Tan Card

LLP Registration Fee

The fee for LLP Registration with 1 Lakh Capital and 2 Desiganted Partners is Rs 7500.

The fee for LLP Registration with GST Registration, MSME Registration and Startup India Registration is Rs 9500.

*The fee may vary on certain factors such as state of registration, capital and number of desiganted partners

Post-Registration Compliance:

After LLP registration, partners must adhere to ongoing compliance requirements, including:

Annual Filings: LLPs must file Annual Return (Form-11) and Statement of Accounts and Solvency (Form-8) with the Registrar of Companies.
Taxation: LLPs are required to file income tax returns annually and comply with Goods and Services Tax (GST) regulations, if applicable.
Changes in LLP Agreement: Any changes to the LLP Agreement or designated partners must be notified to the ROC within the prescribed time frame.

More about LLP Registration in India

LLP registration in India offers entrepreneurs a conducive environment to establish and operate their businesses with limited liability and operational flexibility. By understanding the registration process and compliance requirements, aspiring business owners can navigate the complexities of LLP formation and unlock growth opportunities. Embrace the advantages of LLPs and embark on your entrepreneurial journey with confidence.

For those seeking LLP registration in India, understanding the nuances of the process is crucial. From obtaining DSC and DIN to filing incorporation documents, each step plays a pivotal role in establishing your business as an LLP. Stay informed about the post-registration compliance requirements to ensure smooth operations. Explore the benefits of limited liability protection and tax advantages offered by LLPs. For expert guidance and seamless LLP registration services, consult trusted professionals today.

Frequently asked questions on LLP Registration in India

Q1: Can a foreign national be a partner in an LLP registered in India?

A1: Yes, a foreign national can be a partner in an LLP registered in Jaipur, provided they comply with the Foreign Exchange Management Act (FEMA) guidelines and obtain the necessary approvals.

Q2: Is there a minimum capital requirement for LLP registration in India?

A2: No, there is no minimum capital requirement for LLP registration. You can start an LLP with any amount of capital.

Q3: How long does it take to complete the LLP registration process in India?

A3: The LLP registration process typically takes around 7 to 10 days, subject to government processing times and document submission.

Q4: Do I need a physical office space for LLP registration in India?

A4: Yes, you will need a physical address for your LLP’s registered office in India. It can be a commercial or residential address.

Q5: Can an LLP convert into a private limited company later?

A5: Yes, an LLP can convert into a private limited company, subject to compliance with the Companies Act and approval from the concerned authorities.

Q6: Registration of LLP is granted by ?

A6: LLP i.e Limited Liability Partnership Firm is registered under Limited Liability Partnership Act and Registration of LLP is granted by Registrar of Companies (ROC) as presently all LLP are registered and governed by Ministry of Corporate Affairs through e filings.

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