Limited Liability Partnership (LLP) Registration.
Your LLP Registration is just a click away.
(Price inclusive of all charges)
(Note: This fee doesn’t apply to the LLPs whose registered office is situated in the States of Madhya Pradesh, Punjab, and Kerala. Please contact us to know the price for these states.)
What is Limited Liability Partnership (LLP)?
The concept of Limited Liability Partnership (LLP) was introduced in the year 2008 under the Limited Liability Act, 2008. In India, LLPs are governed by the Ministry of Corporate Affairs (MCA). As per Section 2 of the LLP Act, 2008, an LLP is a partnership registered under this Act.
Advantages of Limited Liability Partnership (LLP) Registration in India.
LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership firm.
Main advantages of LLP Registrations are:
- It provides the status of separate legal entity. Its Partners’ liability is limited to their agreed contribution in the LLP.
- No partner is liable on account of the independent or un-authorised actions of other partners, thus individual partners are shielded form joint liability created by another partner’s wrongful business decisions or misconduct.
- Mutual rights and duties of the partners within the LLP governed by an agreement between the partners and the LLP as the case may be. The LLP, however, does not relieved of the liability for its other obligations as a separate entity.
Minimum Requirements to Register an LLP in India.
- No. of Partners : 2 Partners
- Capital Contribution : Any Amount
Time period of processing of application of LLP Registration.
Ministry of Corporate Affairs (MCA) usually takes 10 to 15 working days (excluding Saturday, Sunday, and Gazetted holidays).
Documents Required for LLP Registration.
Below is the list of documents required for the LLP Registration in India.
- PAN Cards of all the proposed Partners of the LLP.
- Passport (in case of foreign partner)
- Aadhar Cards of all the proposed Partners of the LLP.
- Voter ID / Passport / Driving License (any one) of all the proposed Partners of the LLP as identity of the director.
- Passport Size Photos of all the proposed Partners of the LLP.
- Contact Details (Content numbers and email IDs) of all the proposed Partners of the LLP.
- Occupations of all the proposed Partners of the LLP.
- Birth place of all the proposed Partners of the LLP.
- Telephone Bill / Electricity Bill / Bank Account Statement, having residential address, (not older than 2 months) of all the proposed Partners of the LLP as address proof of the Partners.
- Sale Deed or Rent/Lease Deed (if rented), NOC and Utility Bill (i.e., Electricity Bill / Water Bill / Property Tax Receipt, any one, not older than 2 months) as proof of register office address of the LLP.
- Area of business activity.
- Proposed name of the LLP.
How Much Cost it will take to Registration of an LLP and what will you get.
Prices charged by myaccountants.in for the LLP Registration is very reasonable and normal, for this we charge Rs. 4,999/- (inclusive of Govt Fees).
Note: This fee doesn’t applicable to the LLPs whose registered office is situated in the States of Madhya Pradesh, Punjab, and Kerala. Please contact us to know the price for these states.
- Digital Signature of two partners with 2 years validity, along with ePass USB token.
- Designated Partner Identification Number (DPIN).
- Certificate of Incorporation of the LLP.
- LLP Agreement.
- PAN of the LLP.
- MSME Certificate.
- GST Registration (if required)
How myaccountants.in will help you to get your LLP Registered in India?
myaccountants.in has knowledgeable and experienced team members to guide you and resolve your queries related to everything about LLP Registration. You can follow the steps given below to get register your LLP through us.
Step 1. Book your service by making payment for selected service and you can ask queries related to the service in case of any doubt.
Step 2. After receipt of your payment, our team member will contact you to understand your requirements and guide you to send the required documents.
Step 3. An application is submitted for obtaining the Digital Signature Certificate. Simultaneously proposed name reservation request will send with MCA for approval.
Step 4. Once the name reservation request is approved by the MCA, LLP incorporation Form i.e. Form-FiLLiP fills and Other Documents are drafted. These incorporation forms need to be signed by all the proposed Partners.
Step 5. Our team will start the process of filing incorporation form documents with the Registrar of Companies (ROC) for LLP registration and follow off the status of the LLP registration.
Step 6. After the successful process of the application by the Registrar of Companies (ROC), our team will send you all documents related to your LLP i.e. Certificate of Incorporation on your email ID.
Step 7. After that our team member will contact you to file the application of PAN and draft/filing of the Agreement of the LLP.
Some General Doubts Related to LLP Registration.
Q 1. Who can become a partner in LLP?
Ans. Any person, whether an individual or a body corporate, can become a partner in LLP. The individual can take registration with relatives i.e. Spouse and/or Children.
Q 2. What is an LLP Agreement?
Ans. LLP Agreement is the legal agreement made on Stamp Paper of respective states. It contains Terms and Rules related to the management of the partners.
Q 3. What is Designated Partner Identification Number (DPIN)?
Ans. DPIN is a Unique Identification Number allotted by the Ministry of Corporate Affairs (MCA). It Identifies the partners/directors and the LLPs/Companies in which he/she is a Partner/Director. All the Designated partners must have a valid and active Designated Partner Identification Number (DPIN) / Director Identification Number (DIN).
Q 4. What is the difference between LLP & Private Limited Company?
Ans. The basic difference between an LLP and a Private Limited Company is that a Company is regulated under the Companies Act, 2013 and LLP regulate under the Limited Liability Partnership Act, 2008. Further LLP has more flexibility as compared to a Company. LLP has lesser compliances to fulfill than Company.
Q 5. What is the difference between LLP and Traditional Partnership Firm?
Ans. The basic difference between an LLP and a Traditional Partnership Firm is that an LLP is regulated under the Limited Liability Partnership Act, 2008, and the Traditional Partnership Firm is regulated under the Indian Partnership Act, 1932. Ministry of Corporate Affairs (MCA) governs the affairs of the LLP which is a Central Govt Ministry and affairs of Traditional Partnership Firm are governed by the District Partnership Firm and Society Registrar, which is a State Govt Department. Further, in Traditional Partnership Firm, every partner is held liable, individually or jointly with all the other partners and also severally for all acts of the firm done while he is a partner. In LLP, the liability of the partners is limited to their agreed contribution. No partner is liable on account of the independent or unauthorized acts of other partners in LLP. Thus, it allows individual partners to be shielded from joint liability created by the wrongful acts or misconduct of another partner.
Q 6. How much capital need to invest initially?
Ans. There is no minimum amount of capital required to invest in LLP initially but it is advised to invest such amount of money as contributions of the partners as mentioned in the LLP Agreement and to meet up the requirement of the bank to maintain minimum account balance criteria.
Q 7. Can LLP be registered at a residential address?
Ans. Yes, there are no restrictions on the registration of LLP at a residential address.
Q 8. How many days it will take to register an LLP?
Ans. myaccountants.in will take registration of LLP in 10 to 15 working days (excluding Saturday, Sunday, and Gazetted holidays) but this is subject to the processing of application and documents filed for registration with Registrar of Companies (ROC).
Q 9. What are the Compliances needed to be fulfilled by an LLP?
Ans. LLP requires fulfilling certain compliance once it incorporates. Income Tax Return, Statement of Account & Solvency (Form 8), and Annual Return (Form-11) need to file on annual basis. Apart from this compliance, there is some other compliance like Partner/Director KYC on annual basis.