Register Now
LLP Registration Online
LLP Registration at@₹7990
Fast and Effortless Process
Lifetime Access to Complimentary Expert Support
LLP stands for Limited Liability Partnership. It is a relatively recent business structure in India, combining the limited liability advantages of a private limited company with the operational flexibility of a partnership firm. Introduced in India in 2008, the LLP is governed by the Limited Liability Partnership Act, 2008. With lower maintenance costs and fewer compliance requirements, LLPs have become a popular choice among entrepreneurs, especially for small and medium-sized enterprises.
Overview of Limited Liability Partnership
Table of Content
Complete the Limited Liability Partnership Registration Application Form
Provide us required Documents
Make an Online Payment
Our expert team will manage the Application process for One Person Company Registration
Certificate of LLP Registration will be mailed after completion of registration
How to register Limited Liability Partnership with Corporate Shastra
Benefits of Registering a LLP Company
Partners' Liabilities Are Limited
The main benefit of registering as a Limited Liability Partnership (LLP) instead of a Partnership Firm is its distinct legal identity. This means that an LLP offers limited liability protection to its partners. In the event of business losses or insolvency, partners’ liability is limited to their capital contribution as outlined in the LLP agreement. Additionally, one partner is not accountable for the negligence or misconduct of another partner.
Separate Legal Existence
Limited Liability Partnership (LLP) registration establishes a distinct legal identity separate from its partners. Regulated by the LLP Act of 2008, it enables the business to enter into contracts, initiate legal proceedings, own assets, and secure loans under the LLP’s name. This structure offers the business the flexibility to operate independently and continuously, regardless of changes or the death of partners.
Enhanced Operational Flexibility
The LLP Agreement, a deed among the partners of an LLP, outlines the operational structure and specifies the rights and responsibilities of each partner. Usually, an LLP designates a "Designated Member" to manage daily operations. Members can be individuals or existing businesses. This structure facilitates the clear definition of partners' roles and responsibilities and helps protect each partner’s interests in the event of losses resulting from another partner's unlawful actions.
Reduced Compliance Obligations
LLPs have fewer compliance requirements compared to Private Limited Companies. They are not subject to mandatory audits until reaching a specific turnover or contribution level. Unlike companies, LLPs do not need to adhere to regulations related to board meetings or statutory meetings. Professional services for LLP compliance are generally more affordable than those for companies, making LLPs a cost-effective option for maintenance.
LLP Registration Process
Step 1: Obtain Digital Signature Certificate
The initial step in the registration of a Limited Liability Partnership (LLP) in India is to apply for the digital signatures of all designated partners of the proposed LLP. The incorporation process for the LLP is entirely digital; thus, all documents need to be filed online and must be digitally signed.
Designated partners whose signatures will be included on the e-forms are required to obtain Class-3 Digital Signature Certificates from certifying agencies recognized by the government.
Step 2: Application for DPIN
You need to apply for the "Designated Partner Identification Number (DPIN)" for all designated partners as well as for those who plan to become designated partners of the proposed LLP.
Step 3: LLP name approval
The LLP-RUN (Limited Liability Partnership - Reserve Unique Name) form is submitted to reserve the name of the proposed LLP. When applying for the name, it is advisable to ensure that the name is not similar, identical, or phonetically alike to existing LLPs, companies, firms, or trademarks.
Step 4: Incorporation of LLP
The FiLLip form must be submitted for the incorporation of a Limited Liability Partnership with the Registrar who has jurisdiction over the state where the LLP's registered office is situated. The details required to be filled in the FiLLip form include:
Address of the registered office
ROC
Business activity code
Number of designated partners and partners
Personal details of designated partners and partners
Contribution of designated partners and partners
Certification by a practising professional (CA, CS, CMA)
The Registrar will register the LLP if the submitted documents adhere to the relevant provisions of the LLP Act. After the approval of the FiLLip form, the Certificate of Incorporation will be issued within 14 days in Form-16 from the Central Registration Centre of the MCA, on the letterhead of the Government of India.
Step 5. Filing of LLP agreement and Partner's details
The LLP Agreement is the most crucial document of an LLP, governing the mutual rights and responsibilities of the partners as well as the relationship between the LLP and its partners.
The LLP Agreement must be filed online in Form-3 on the MCA portal.
Partner details should be submitted in Form-4 on the MCA portal.
The LLP Agreement must be drafted and filed under Form-3 within 30 days of the incorporation date.
The LLP Agreement should be printed on stamp paper.
Limited Liability Partnership Registration – requirements
The requirements for incorporating an LLP in India are as follows:
A minimum of two partners
At least one partner must be an Indian resident
Digital Signature Certificates (DSC) for all designated partners
Designated Partner Identification Numbers (DPIN) for all designated partners
A unique name for the LLP, not resembling any existing LLP, company, or trademark
Capital contribution from the LLP's partners
An LLP agreement between the partners
Proof of address for the LLP’s office
To incorporate a Limited Liability Partnership (LLP), documents for both the partners and the LLP must be provided:
Documents for Partners:
Identity proof
Address proof
Residence proof
Passport-sized photograph
Passport (for foreign nationals/NRI)
Documents for LLP:
Proof of the registered office address
Digital Signature Certificate
LLP Registration – Documents required
Comparison of Business Structures
Proprietorship | Partnership | OPC | LLP | Private Limited | |
|---|---|---|---|---|---|
Ownership | Sole Ownership | Min 2 partners Max 50 partners | Only 1 member | Min 2 Designated Partners | Min 2 Directors Min 2 Shareholders Max 15 Directors Max 200 Shareholders |
Separate
Legal Entity | No | No | Yes | Yes | Yes |
Applicable Law | No specified Act | Partnership Act, 1932 | Companies Act, 2013 | Limited Liability Partnership Act, 2008 | Companies Act, 2013 |
Statutory Audit | Not Mandatory | Not Mandatory | Mandatory | Based On Applicability | Mandatory |
Liability | Unlimited | Unlimited | Limited | Limited | Limited |
Perpetual Existence | No | No | Yes | Yes | Yes |
Ownership Transferability | No | Yes (Restricted) | Yes (Restricted) | Yes | Yes |
Taxability | Low | High | Moderate | High | Moderate |
Compliance
Requirement | Low | Low | High | Moderate | High |
LLP Incorporation Package Includes
After registering an LLP in India, you will receive the following documents:
Certificate of Incorporation
LLP Agreement
FiLLip Form
Form-3
LLP PAN
LLP TAN
Payment Challan
Company Master Data
DSC and DPIN for designated partners
Frequently Asked Questions (FAQs)
What is the minimum capital for LLP?
Under the provisions of Limited Liability partnership (LLP), there are no such requirements for Minimum Capital, unlike in the case of Private Limited Companies.