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Process For LLP Registration In India

Limited Liability Partnership is called a hybrid between a company and a partnership as it gives the benefits of limited liability of a company and the flexibility of a partnership.  It is governed by the provisions of Limited Liability Partnership Act, 2008.

If you want to start your business with Limited Liability Partnership, then you must get it registered under Limited liability Partnership Act, 2008.

Minimum Requirements for LLP Registration:

i) Minimum 2 Partners

ii) DIN (Director Identification Number) for all the Designated Partners

iii) If a body corporate is a Partner, it has to nominate a natural person as its Nominee

iv) DSC (Digital Signature Certificate) for all the Designated Partners

v)  There is no concept of share capital, but each Partner has to contribute towards capital of LLP

vi)  Address proof for office of LLP

How to Register a LLP:

STEP 1: Apply and obtain a DSC (Digital Signature Certificate)

The first step towards registering LLP is to acquire the digital signatures of all the designated partners of the LLP. This is because all the documents for LLP are filed online and are required to be digitally signed.

STEP 2: Apply for the DPIN (Designated Partner Identification Number)

DPIN is an identification number required by a person who wishes to register an LLP or become a Designated Partner of an existing LLP. All designated partners of the proposed LLP shall obtain a Designated Partner Identification Number (DPIN).

STEP 3: Apply for the name availability and approval

To register a proposed LLP, the applicant needs to get a Limited Liability Partnership-Reserve Unique Name (LLP-RUN) that can be processed at the Central Registration Centre. However, before citing or quoting the name, it is always advisable to check from the Ministry of Corporate Affairs (MCA) portal for a free name.

The registrar will approve the name only if the name is not undesirable in the opinion of the Central Government and does not resemble any existing partnership firm or an LLP or a body corporate or a trademark.

STEP 4: Incorporation of LLP

Form for incorporation of Limited Liability Partnership (FiLLiP) is required to be filled and submitted with the registrar for incorporation of LLP. Fees has to be paid as per Annexure ‘A’.

STEP 5: File for LLP Agreement

LLP agreement is very crucial in a limited liability partnership as it determines the mutual rights and duties amongst the partners, and between the LLP and the partners.  LLP agreement must be filed within 30 days of incorporation in form 3. The LLP Agreement has to be printed on Stamp Paper. The value of Stamp Paper is different for every state.

If such an agreement is not made, then the Act governs the mutual rights and duties of all partners.

Documents Required for LLP Registration:

There are two sets of documents that will need to be submitted for the LLP registration i.e. documents required of partners and the LLP documents.

Documents of Partners

All partners in the LLP will be required to submit the following:

  1. Identity proofs and PAN cards of all partners.
  2. Address Proofs of partners that includes Voter ID, passport or driving license.
  3. A passport size photograph against a white background.
  4. Passports of NRIs and foreign nationals who wish to become partners in an LLP.

Documents of LLP

Documents related to the LLP entity that need to be compulsorily submitted are:

  1. A proof of the registered office of address.
  2. A Digital Signature Certificate (DSC)

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Note: This Post was last updated on May 6, 2021

Disclaimer: The entire contents of this document have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation i.e. May 6, 2021. Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, We assume no responsibility therefore. Users of this information are expected to refer to the relevant existing provisions of applicable Laws. The user of the information agrees that the information is not a professional advice and is subject to change without notice. We assume no responsibility for the consequences of use of such information. IN NO EVENT SHALL WE SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM, ARISING OUT OF OR IN CONNECTION WITH THE USE OF THE INFORMATION.

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