Check out everything about LLP Registration in India: why it is needed, documents required and LLP Registration Process.
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LLP or Limited Liability Partnership is one of the most preferable business structures as it offers benefits of both a company and Partnership firm. In order to start a LLP, partners need to follow certain guidelines such as at least 2 partners and 2 designated partners, etc. There are multiple documents needed to obtain along with the name approval. In this article, you’ll get complete details of LLP Registration in including eligibility criteria, documents required, procedure, time taken and benefits of LLP Registration.
LLP or Limited Liability Partnership is a business structure that includes the benefits of a private limited company and a partnership firm. As the name suggests in an LLP, partners have limited liability. An LLP can be continued irrespective of any partner’s retirement, resignation or even death. An LLP is considered as the most suitable business structure as it is a separate legal entity and thus partners' personal assets are not liable for LLPs Debt.
In order to register our LLP, there are certain requirements which need to be followed:
Following is the list of documents required for LLP Registration in
Note: If the documents are not in english then they must be notarized or apostilled transaction copy shall be attached.
The procedure for the LLP registration process are as follows:
Step 1
Name Reservation:
To start an LLP, the first step is to apply for a unique name which represents LLPs identity. To reserve the unique name for your LLP you need to file a RUN Form through MCA Portal. Also, the name of the LLP should end on “Limited Liability Partnership” or “LLP”.
Step 2
Obtain Digital Signature Certificate (DSC):
After the approval of the name, obtain digital signature certificate for all partners. If any partner has any valid DSC then there is no need to obtain DSC again.
Step 3
Obtain Designated Partner Identification Number (DPIN):
Once you obtain DSC for all partners, obtain DPIN i.e, Designated Partner Identification Number for all the designated partners of LLP.
Step 4
Filing of LLP Agreement:
After filing the Incorporation form, prepare the LLP Agreement including mutual rights and duties of partners. It is mandatory to file this agreement through form 3 online on MCA Portal within 30 days of the incorporation date.
The LLP Registration usually took 7 to 10 working days to complete the registration process. But the time can differ from LLPs to LLPs. Following is the detailed Table for time taken for LLP Registration:
Activities | Estimated Time |
---|---|
LLP Name Approval | 2 to 3 Working Days |
DSC Preparation | 1 Working Day |
LLP Agreement Draft and Form Filing | 2 Working Days |
LLP Registration Approval from MCA | 2 Working Days |
The fee structure for LLP Registration may vary based on several factors. Please contact our consultants for detailed pricing information tailored to your requirements.
Fees for LLP registration | Amount in ₹ |
---|---|
Professional Fee | ₹ 1,999 |
DSC Making Charges per partners | ₹ 1,499 |
Run + FiLLiP Form | ₹ 843 |
Total | ₹ 4,341 |
There are certain benefits partners can get through LLP Registration. Following are the benefits of LLP Registration:
Register Adda is a trustworthy LLP registration consultant in. They have a team of CAs, CS & lawyers who are experts in recommending the right business structure customised to your startup requirements. The team will guide you through the process, pros, cost, time taken, & post incorporation compliance for starting a new LLP.
LLP Registration is one of the complex processes as it includes obtaining multiple documents such as DSC, DPIN or even Name Approval. LLP offers benefits of Company & Partnership but on the other side it includes compliances as well. It is better to choose the best suitable business structure for you depending on your business needs.
How many partners are required to start an LLP?
In order to start an LLP, at least two partners and two designated partners are required.
What is the FiLLiP Form?
The FiLLiP Form or Form of Incorporation of Limited Liability Partnership is the incorporation form used for LLP Registration.
Is GST Registration compulsory for LLP?
GST registration for LLP is based on turnover and the services or goods that LLP offers. It is not a mandatory requirement.
Is there any minimum capital requirement for LLP registration in
For LLP registration in , no minimum capital is required, it can be established with the least possible capital.