Limited Liability Partnership Registration Online: LLP Registration Process
Required Details & Deliverables
- Pan Card
- Aadhar card
- Passport or Voter ID or Valid Driving License
- Recent Bank statements (not older than 1 month)
- Mobile number & email id
- passport size photo
- Electricity bill or Telephone bill or gas bill of your office address (not older than 1 month)
- Property owner - Name & Address (to draft rental agreement)
- Two Proposed company names (To apply for name reservation)
- Digital signature for 2 Partners
- Partnership deed preparation
- PAN & TAN for the LLP
- DPIN for 2 Partners
- Incorporation certificate
- Name reservation fees
- Current Account Opening Support
Here's How it Works
1. Fill Form
Simply fill the form and click Get Start Now.
2. Call to discuss
Our Experts will connect with you to proceed further.
3. Work done
We will help you to get the entire process done.
What Is LLP Registration?
A Limited Liability Partnership (LLP) is a form of business enterprise in which the partners are not personally liable for the debts of the partnership. An LLP can be considered as a hybrid between an incorporated company and a partnership firm. Like companies, LLPs have limited legal liability for their partners, but like partnerships, they are generally governed by contractual obligations instead of company laws.
To know more about LLP company registration, keep reading.
Features of LLP
Some of the features of LLP are:
Unlike a partnership, the partners are not liable for the independent or unauthorised actions of one partner
Partners are personally liable only to the extent of their investment in the LLP i.e. limited liability for its partners
It is generally governed by contractual obligations instead of company laws
LLP is a separate legal entity and it has perpetual succession
Compliance requirements are lower compared to private limited companies
Two designated partners should be assigned who will be responsible for the legal compliances
The government has the power to investigate the affairs of an LLP
It is governed by the Limited Liability Partnership Act, 2008
Benefits of Limited Liability Partnership (LLP) Registration
The following are the benefits of an LLP:
It’s an organised partnership
There is no minimum requirement in terms of contribution i.e. LLP can be formed with a very low capital
While 2 partners are the minimum, there is no limit on the maximum number of partners an LLP can have
It operates based on a contract where the parties have the power to alter the terms
It is relatively easier to form and run
LLP structure is more flexible in terms of procedural and legal requirements
It is easier to dissolve
And of course, limited liability to the partners
Disadvantages of LLP
There are some disadvantages to the structure of Limited Liability Partnership registration in India. Some of these disadvantages are:
The income tax rate for LLP (30% irrespective of turnover) is higher than that of companies (25% up to ₹400 crores).
Irrespective of whether the LLP is active, certain compliances have to be completed regularly after registration. If an LLP fails to do so, there is an additional penalty of ₹100 per day for each day of continuing default.
There is no option for getting an equity investment.
LLP has to disclose their finances to the public, which is not in the case of partnerships.
Transfer of ownership rights is difficult as it requires written consent from all the partners and even one objection can make it difficult.
LLP Registration Requirements/Eligibility
The requirements for LLP registration in India are as follows:
The LLP must have at least two partners and there is no restriction on the maximum number of partners.
All the partners of the LLP must be at least 18 years old and of sound mind.
There should be a minimum of 2 designated partners who are individuals and at least one of them should ordinarily reside in India.
If a body corporate is a partner then a natural person must be appointed as the nominee.
Each partner should have agreed on a contribution towards the LLP’s capital.
Documents Required for LLP Registration
The LLP registration documents are as follows:
PAN card or any other ID proof
Address proof - Passport/Voter’s ID/Driving licence/Aadhar card
Residence proof - Utility bills/bank statement
Passport size photograph
In the case of NRIs or foreign nationals - passport
Proof of registered office address - Utility bills not older than 2 months
In case of rented office space, rent agreement and NOC from owner
LLP Registration Process
LLP registration procedure in India involves the following steps:
Step 1: Getting DPIN
DPIN stands for Designated Partner Identification Number. All the designated partners should get a DPIN by applying through eForm DIR-3.
If a designated partner already has a DIN (Director Identification Number), the same can be used as DPIN.
Step 2: Getting DSC
The DSC (Digital Signature Certificate) is essential for doing all the online filings of the LLP. It is the only way to authenticate electronically submitted documents and it protects the data. So, all the Designated Partners of the LLP need to apply and obtain a DSC.
DSC is given by certain government authorised agencies called “Certifying Authorities” whom you can find through the MCA portal.
eAuditor Office LLP registration package covers both DPIN and DSC applications, so you don’t have to worry about them.
Step 3: Apply for name reservation
The next step is to reserve a name for your LLP before you apply for incorporation. You can submit 2 preferred name options in an application. Once approved, it is valid only for 3 month within which you are expected to apply for incorporation. If not, the name registration will expire and you have to do it again.
Before deciding on the preferred name, run a free name search using the government portal to check if any other companies are using the same or similar names. If yes, then change your preferred name and make sure it's available.
To reserve the name, log in to the MCA portal and click the “E-Forms” link. Using Form-1 submit the name reservation application. You have to provide information of designated partners, pay the fees, and append digital signatures for this.
More about naming the LLP is discussed below.
Step 4: Apply for incorporation
Once the name is approved, you can file your application through FiLLiP (Form for incorporation of Limited Liability Partnership) for incorporation of the LLP along with the documents required, and fees prescribed. Then you have to wait for the application status to become “Approved”.
Step 5: File LLP agreement
Finally, within 30 days of the incorporation, you have to file an LLP agreement using Form 3.
The LLP agreement is like the MoA and AoA of the company and should lay down all the guidelines for how the LLP must function starting from its constitution to its dissolution. It has to be printed on a stamp paper of appropriate value.
Make sure that the LLP agreement is drafted by professionals so that the provisions are clear and unambiguous. eAuditor’s LLP registration package covers this too.
LLP Registration Fees
When registering an LLP, you will have to pay government fees at multiple stages.
For DSC of 2 partners: ₹1500 - 2000
For DIN for 2 partners: ₹1000
Name reservations fees: ₹200
Government fee: varies depending on the contributions
Less than ₹1 lakh - ₹500
Between ₹1 lakh to ₹5 lakhs - ₹2000
Between ₹5 lakhs to ₹10 lakhs - ₹4000
Above ₹10 lakhs - ₹5000
Filing LLP agreement - fees and stamp duty vary based on contribution and the state where the LLP is registered.
Compliance Requires for LLP
Every LLP should have 31st March as the end of a financial year.
Annual Return (under LLP Form 11) has to be filed annually within 60 days of the end of the financial year.
Statement of Accounts & Solvency (under LLP Form 8) has to be filed annually within 30 days of the completion of 6 months of the financial year.
Books of Accounts should be maintained and income tax returns should be filed.
At least 2 partners who can act as designated partners
DSC and DPIN for two designated partners
Proposed names for the LLP
Details on capital contributed by each partner
Registered office proof
Factors to Consider While Opting for LLP Name
The name of an LLP has to end with the suffix “Limited Liability Partnership” or “LLP”. Also, the proposed name should not already be used by another LLP. So, when you decide on a name, remember these.
The following names or words cannot be used in the name:
Words or phrases prohibited under the Emblems and Names Act, 1950
Terms that are offensive to any section of people
Registered trademarks. If it is used, consent of the trademark owner is required.
Name of any foreign country unless the LLP proves a collaboration with the said nation
Words like a bank, banking, mutual fund, insurance, etc, without the consent of the regulatory authority
Please note that the proposed name shouldn’t be identical or similar enough to any existing trademarks and LLP names that it can confuse.
Why Choosing eAuditor Office for Limited Liability Partnership(LLP) Registration
Any individual, private limited company, or LLP can be a partner in an LLP, including foreign nationals and body corporates. Provided the individual is qualified to enter into a contract and the corporate bodies assign a nominee to act on its behalf.
No, LLPs don’t require a Memorandum of Association (MoA) or Articles of Association (AoA). Instead, they use the LLP agreement as the guiding document.
Yes, body corporates can be designated partners of an LLP by appointing a nominee to act on their behalf.
Yes, you can convert a partnership to an LLP. There are certain procedures involved and the eAuditor Office can get it done for you smoothly.
Yes, you can convert a private or unlisted public company into an LLP easily with the help of the eAuditor Office. However, you cannot convert a listed company into an LLP.
Login to the MCA portal. Fill and file LLP Form No.1 along with the prescribed fee and the DSC of the designated partner.
Yes, as per the provisions of the LLP Act, it is mandatory to file the LLP agreement post-registration.
Once you submit the application, you will receive an SRN number. Using that you can track your application status in the portal. It is essential to regularly check the status as sometimes it can be marked as “Waiting for user clarification”/“Required resubmission” and these require immediate actions from you.
An LLP can be registered within 10 days approximately of getting DSC. However, this timeline depends on your promptness and departmental approval.