Limited Liability Partnership (LLP Registration)

Ideal business structure for Small and Medium sized Enterprises going for Partnership:

Our LLP registration giveaways:

  • LLP a separate legal entity
  • Simple Registration Process
  • Obtain DIN and DSC
  • LLP name approval
  • Complete LLP incorporation support
  • LLP Agreement
  • No minimum capital requirement
  • Lesser cost and compliances

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Definition
PROCEDURE
documents
FAQ’S

What is a Limited Liability Partnership?

Limited Liability Partnership (LLP) is a combination of a company and a partnership firm and a more convenient form of business. LLP carries benefits and features of a private limited company while it can function more flexibly like a normal partnership firm. Minimum 2 partners are required to form an LLP but there is no limit for the maximum number of partners of LLP.


  • Some of the salient features of LLP are
  • LLP work as a separate legal entity just like companies
  • Partners Liability is limited as compared to the contribution made by partner
  • The cost of LLP formation is comparatively low
  • A lesser amount of compliance and regulations
  • No minimum capital contribution requirement

Procedure to Register a Limited Liability Partnership

Apply for DPIN

All designated partners apply toobtain Designated Partner Identification Number DPIN for LLP.

Obtain DSC

The first step is to apply for a digital signature of the nominated partners of the proposed LLP. This is compulsory before starting the process of registration because all the documents for LLP registration need to be submitted online and digitally signed.

Name Approval

Choose 2 proposed names and apply for LLP name approval online which will be processed by Central Registration Centre (CRC).

Incorporation of LLP

Digitally signed application form for the incorporation of the LLP by the person having DIN named in the incorporation document. After fulfilling all requirements successfully the LLP would get registered by the Registrar.

File LLP Agreement

LLP agreement defines the responsibilities, rights, and duties between the partners and the LLP.

Documents required for LLP Firm

Documents required for Partners:

  • ID Proof e.g. PAN Card of all the Partners
  • Address Proof of all the partners
  • Partners Residence Proof
  • Passport size Photograph of all partners
  • Valid Passport in case of Foreign Nationals/ NRIs

Documents of LLP:

  • Address Proof of LLP Registered Office
  • LLPs Digital Signature Certificate

Advantages of a Limited Liability Partnership

Key benefits of LLP (Limited Liability Partnership) are:

  • Simple Registration Process
  • As LLP is a separate legal entity to the members they protect the member’s assets from the liabilities of the business
  • LLP allows greater flexibility in the operation and management of the business. A written agreement between the members clearly define the procedure of the partnership and distribution of profits is determined by
  • As LLP is considered as a legal entity, it can buy, rent, lease, own property, employ staff, sign new contracts, and be accountable for the actions.
  • LLP’s can provide corporate ownership by appointing two companies as members of the LLP.
  • LLP can elect and non-designate members and can operate with different levels of membership.
  • By registering the LLP we can protect the partnership name and prevent other partnerships or companies from registering the same name.



Frequently Asked Questions (FAQ)

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An LLP is similar to a partnership firm with a limitation of the obligation on the partners of the LLP. An LLP functions as a separate legal entity with the limited liability of partners restricted to the capital being contributed by them. Therefore, shareholders are not responsible for the debts of the company.

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If small businesses work as an LLP are exempted from audits up to the turnover of 40 Lac or the capital worth up to 25 lac.

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The minimum of two persons to be appointed as Designated Partners, one of them must be an Indian resident. Another requirement is to have an address of LLP in India for the purpose to register it as a registered office for LLP.

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Designated Partners And Partners Are Two Different Categorize in LLP. Designated partners are more accountable as compared to the partners. They are responsible for all day to day business activities as well as to ensure all regulatory and legal compliances. Rights and responsibilities between the partners are defined into an agreement.

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No specific qualification is required and any individual can become a designated partner or partner in an LLP Firm. No professional or educational qualification is necessary. to join as a partner in LLP.

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The major responsibility assigned to the designated partner is managing the LLP in the best efficient manner. A designated partner is accountable for any wrongdoing or fraud or found guilty of default.

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Yes It is allowed to change the registered office any time after following the specified procedure by LLP. The changed address could be within the same state or in a different state where it was originally registered.

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