Limited Liability Partnership Registration

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Limited Liability Partnership Registration

What is LLP or Limited Liability Partnership Registartion?

Limited liability relationship is a kind in which most parties have limited liability under the jurisdiction.This shows that limited liability partnership has the components of partnership and corporate businesses.

By limited liability it means that each partner will not be responsible or liable for the wrong doing of the another partner. In limited liability the partners only need to pay the liability from the assets they acquire inside the company. No personal assets are required to be included.

Limited Liability Partnership or LLP Contains salient features of Company and Partnership.

Advantages Of LLP Registration

1. Separate Legal Entity

LLP Registration is a separate legal entity formed under the Act. The partners shall be distinct from the company.

2. Transferability of Ownership

The ownership of the LLP can easily be transferred to another party. All new partners are to be known as LLP Designated Partners. LLP is a separate legal entity, independent from its Partners, so that the ownership of LLP can be modified by changing the Managing Partners.

3. Owning Assets

The LLP, being a legal entity, can purchase, own and enjoy assets on its own behalf. And it's completely separate from its partners. Partners can not claim the properties of the LLP.

4. Audit not Required

If entrepreneurs earning a turnover of less than 40 Lakhs and a capital investment of less than 25 Lakhs do not need to have their accounts audited. Thus, LLPs are best suited for start-ups and small businesses that are just beginning their operations and want to have minimum regulatory compliance formalities.

5. Limited Liability Benefits

limited liability is the most important benefit. It basically means that it is legally liable only to a limited amount for the debts of the LLP.

Steps Involved in LLP Registration

1. Application of DSC & DPIN

Our very first step in this direction would be getting Digital Signature Certificate (DSC) and Designated Partner Identification Number (DPIN) for the proposed Partners of the LLP.

2. Name approval

You need to provide 6 different name for your company name to MCA of which one will be selected. Names provided should be unique and suggestive of company business.

3. Submission of MOA & AOA

Once name is approved, one needs to draft Memorandum of association and Articles of Associate. Both MOA and AOA are filed with the MCA with the subscription statement.

4. Get the incorporation certificate

Incorporation documents can be submitted to the MCA along with an application for incorporation. MCA will approve the application for incorporation in 5 to 7 days, subject to their processing time. Incorporation certification is a proof that company has been created.

5. Apply for PAN & TAN Certificate

Then you need to apply for PAN and TAN.

Minimum Requirements For LLP Registration

Minimum 2 Partners

No Capital Requirement

At least one Designated Partner as Indian Resident

DPIN for all Partners

Documents Required for Limited Liability Partnership Registration

1. Copy of PAN Card of partners.
2. Passport size photograph of partners.
3. Copy of Aadhaar Card/ Voter identity card.
4. Rent agreement (If rented property).
5. Electricity/ Water bill (Business Place).
6. Copy Of Property Papers (If Owned Property).
7. Landlord/Owner Noc (Format will be provided)

Features of LLP :

1. The LLP has a separate legal body, i.e. the LLP and the partners are independent from each other

2. Minimum of 2 LLP partners is necessary. But, there is no restriction to the total number of partners.

3. No minimum capital investment requirement.

4. No minimum capital investment requirement.

  • Basic
  • 7,899/-
  • 2 Class 2 Digital Signature
  • Designated Partner Identification Number (DPIN)
  • LLP Name Approval 2
  • LLP Deed Drafting
  • Incorporation Fees
  • 1 Lakh Capital
  • Incorporation Certificate
  • GST Registration
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  • Enquiry Form

  • Standard
  • 14,899/-
  • 2 Class 2 Digital Signature
  • Designated Partner Identification Number (DPIN)
  • LLP Name Approval 2
  • LLP Deed Drafting
  • Incorporation Fees
  • 1 Lakh Capital
  • Incorporation Certificate
  • PAN & TAN
  • GST Registration
  • 6 months Gst return Filing GSTR-3B or GSTR-1
  • Order Now
  • Premium
  • 22,899/-
  • 2 Class 2 Digital Signature
  • Designated Partner Identification Number (DPIN)
  • LLP Name Approval 2
  • LLP Deed Drafting
  • Incorporation Fees
  • 1 Lakh Capital
  • Incorporation Certificate
  • PAN & TAN
  • GST Registration
  • 12 months Gst return Filing GSTR-3B or GSTR-1
  • Udyog Aadhaar Registration
  • Order Now

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FAQ(Frequently Asked Questions)

  • 1. Name reservation: The first step is reservation of name of LLP in incorporation of Limited liability partnership (LLP). Applicant has to file eForm 1, for finding availability and reservation of the name of a LLP business.
  • 2. Incorporate LLP: After a name is reserved, user has to file eForm 2 for incorporating a new Limited Liability Partnership (LLP). eForm 2 contains the
  • 2(a). details of LLP proposed to be incorporated,
  • 2(b). partners’/ designated partners’ details and
  • 2(c). partners/ designated partners consent to act
  • 3. LLP Agreement: Execution of LLP Agreement is mandatory as per Section 23 of the Act. It is required to be filed with the registrar in eForm 3 within 30 days of incorporation of LLP.
By following with the Provisions of clause 58 and Schedule II of the LLP Act, conversion can take place. Form 17 along with Form 2 has to be filed.
As per the Provisions of clause 58 and Schedule III and IV of the LLP Act, Form 18 along with Form 2 has to be filed.
No, Only private / unlisted public company can be converted into LLP.
  • 1. If eForm 2 is not found appropriate, conversion application (Form 17 or 18) can be rejected by the registrar.
  • 2. The applicant can appeal against the rejected application within 90 days and inform the registrar about the action undertaken.
  • 3. After the appeal is decided, the registrar can mark the status of eForm as ‘Sent for re-application’ or ‘Rejection confirmed’.
As per section 2(6) of the CGST/SGST Act “aggregate turnover” includes the aggregate value of
  • 1. The applicant must file a fresh Form 17 or 18 along with Form 2 within 60 days, if the status is ‘Sent for re-application’, failing which the Form will be marked as ‘Rejection confirmed’ by the system.
  • 2. The fee is not to be paid again while re-applying for conversion.
LLP shall have the same name as that of the company at the time of conversion.
  • 1. Fill LLP Form No. 1 (Application for reservation or change of name) online on the portal and payment of fee prescribed and attaching the digital signature of the designated partner proposing to incorporate a LLP.
  • 2. Refer the LLP name availability guidelines prescribed under section-15 read with Rule-18 of LLP Rules, 2009.
  • 1. Validity is for a period of 3 months from the date of approval, of the approved name of LLP.
  • 2. The name will lapse and available for other applicant/ LLP, if the proposed LLP is not incorporated within the period.
  • 3. There is no provision for renewal of the name.
No, the name of LLP shall end with either ‘Limited Liability Partnership’ or ‘LLP’.
There is no provision for treatment of stamp duty issues under the LLP Act. Stamp Duty is reserved for the States and will depend upon the relevant Stamp Act prescribed by the State Government/Union Territory
  • 1. The partner must inform LLP within a period of 15 days of such change.
  • 2. The LLP must file such details with the Registrar within 30 days of such change in Form 4