Limited Liability Partnership (LLP) Registration
- Application submission Guaranteed within 14 days, completely online & hasslefree T&C*
- Transparent registration process starting at just ₹1499 + Govt Fee
Right plan for your business
Hikmadh ‘s incorporation experts register over 200 companies every month.
Standard
Standard application filing: Regular processing time+ Govt. Fee
What you’ll get
Expert assisted process
Your company name is reserved in just 2 – 4 days
DSC in 4 – 7 days
LLP Incorporation form filing done in 21 days*
LLP Incorporation Certificate
LLP agreement form filing done in 14 days(Post Incorporation)
Company PAN+TAN
DIN for directors
Zero balance current account with up to 7% interest
GST Registration Free 🎉
Fastrack
Expedited application filing: Faster processing for quicker results+ Govt. Fee
EMI Option Available
What you’ll get
Expert assisted process
Your company name is reserved in just 24 hours*
DSC in just 24 hours*
LLP Incorporation form filing done in 14 days*
LLP Incorporation Certificate
LLP agreement form filing done in 7 days(Post Incorporation)
Company PAN+TAN
DIN for directors
Zero balance current account with up to 7% interest
GST Registration Free 🎉
Trademark application filing Free 🎉
Premium
Complete solution(LLP incopration + Annual compliance)+ Govt. Fee
EMI Option Available
What you’ll get
Dedicated account manager
Your company name is reserved in just 24 hours*
DSC in just 24 hours*
LLP Incorporation form filing done in 14 days*
LLP Incorporation Certificate
LLP agreement form filing done in 14 days(Post Incorporation)
Company PAN+TAN
DIN for directors
Zero balance current account with up to 7% interest
GST Registration Free 🎉
Trademark application filing Free 🎉
Digital welcome kit that includes a checklist of all post-incorporation compliances
30-minute call with a senior CA/CS for your business planning
Annual compliance filed by our experts(Form 8 & 11)
ITR Filings
DIR-3 E-KYC filing
Documents Required for LLP Registration
Identity and Address Proof
Scanned copy of PAN card or passport (foreign nationals & NRIs)
Scanned copy of voter ID/passport/driving
Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
Scanned passport-sized photograph specimen signature (blank document with signature [directors only)
Registered Office Proof
Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
Scanned copy of notarised rental agreement in English
Scanned copy of no-objection certificate from the property owner
Scanned copy of sale deed/property deed in English (in case of owned property)
Limited Liability Partnership Registration Process
What we will do
Day 2-4
Expert assistance for DSC application and company name reservation
Day 5-10
Drafting and filing LLP incorporation form on MCA
Day 11-14
LLP Certificate issued
What Is Limited Liability Partnership?
LLP is a popular type of partnership where limited liability Partners enjoy protection of personal assets from debts, liabilities & damages. An LLP is a corporate body and legal entity separate from its partners. It has perpetual succession in every state and is registered under the LLP Act, 2008
An LLP (Limited Liability Partnership) is a corporate business structure that offers its members the benefit of limited liability, just like a company. It allows partners to manage internal affairs based on mutually agreed-upon terms, similar to a partnership firm. Partners have reduced liabilities for any future debts incurred in the course of running the business.
An LLP combines features of both a corporate structure and a partnership firm, making it a hybrid entity that provides the best of both worlds. Partners are required to contribute to the LLP as specified in the LLP Agreement, and their contributions can take various forms, such as tangible or intangible assets, movable or immovable property, money, and cash.
In an LLP, the Company itself is liable for any losses or debts incurred in business operations, which means individual members of the LLP are not personally responsible for such financial obligations.
Features of Limited Liability Partnership
LLP is a Body of Corporate
As per Section 3 of the Limited Liability Partnership Act 2008 (LLP Act), an LLP is a corporate body established and registered under the Act. It exists as a distinct legal entity separate from its partners.
Perpetual Succession
Unlike a general partnership firm, a limited liability partnership has the advantage of perpetual succession. This means that even if one or more partners retire, become insolvent, suffer from mental incapacity, or pass away, the LLP can continue its operations. Additionally, the LLP has the capacity to enter into contracts and own property in its own name.
Separate Legal Entity
Similar to corporations or companies, an LLP is recognised as a separate legal entity. It holds full liability for its assets and obligations. Moreover, the individual partners’ liabilities are limited to their contributions to the LLP. As a result, the creditors of the LLP are not considered creditors of the individual partners.
LLP Agreement
The LLP Agreement is a contract agreed upon by all partners, outlining their rights and duties. Partners have the freedom to create the agreement according to their preferences. The Act will govern their mutual rights and duties if they don’t create one.
Artificial Legal Person
For legal purposes, an LLP is considered an artificial legal person. It is created through a legal process and possesses all the rights of an individual. It exists as an intangible, immortal entity but is not fictional since it has real existence.
Common Seal
An LLP may have a common seal if the partners use one (Section 14(c)). However, having a seal is not mandatory. If they choose to use a seal, it must be kept under the custody of a responsible official. The seal can only be affixed by at least two designated partners.
Limited Liability
Under Section 26 of the Act, each partner is an agent of the LLP for its business activities. However, a partner is not an agent of other partners. The liability of each partner is limited to their agreed contribution to the LLP, providing personal liability protection to all partners.
Minimum and Maximum Number of Partners
Every LLP must have a minimum of two partners, and at least two of them must be individuals serving as designated partners. At least one designated partner should always be a resident of India. There is no maximum limit on the number of partners in the LLP.
Business Management and Structure
The partners of the LLP have the authority to manage the business. However, only the designated partners are responsible for ensuring legal compliance.
Business for Profit Only
LLPs are specifically formed to conduct lawful business to earn a profit. They cannot be established for charitable or non-profit purposes.
Investigation
The Central Government holds the power to investigate the affairs of an LLP. They can appoint a competent authority for this purpose.
Mutual Agency
Unlike a partnership firm, in an LLP, actions taken by one partner independently and without authorisation do not make other partners liable. Each partner is considered an agent of the LLP, and the actions of one partner do not bind the others.
Pre-requisites for Incorporating an LLP
- Minimum two partners allowed (Individual or body corporate)
- At least two designated partners are required, with one being an Indian resident
- A digital signature certificate needed
- Mandatory to have an LLP name
Stages of Incorporation of LLP
Procure Digital Signature Certificate
Reserve LLP Name
- The new process for reserving a unique name for an LLP involves using the web form ‘RUN-LLP’ (Reserve Unique Name – Limited Liability Partnership)
- This simplified form replaces the old LLP Form 1 and requires basic details and the significance of the desired name
- Applicants can provide up to 2 names in order of preference, ensuring compliance with applicable provisions for name reservation
- If none of the names provided are approved, there is an opportunity to apply for two more names
- The government fees for the RUN form follow the Register Office Fees Rules
- DSC (Digital Signature Certificate) and DIN (Director Identification Number) are not required for filing the RUN form, but having an MCA portal account is mandatory
- Once the name is allotted for the LLP, it is reserved for 90 days from the date of approval.
LLP Incorporation and DIN Application
LLP Incorporation Application with FiLLiP
The new LLP incorporation application process brings a significant change with the introduction of FiLLiP (Form for incorporation of Limited Liability Partnership). This updated form streamlines the process and offers the integration of the DIN Allotment Application with the incorporation application.
Here are the key points to know about this application:
DPIN/DIN Application
- Up to 2 Designated Partners (DPs) can apply for DPIN/DIN through this application
- Additional DPs without DIN can be added later through respective filings.
Optional Name Reservation
- The application allows for optional name reservations, which can be done either through LLP-RUN or this form
Document Submission
- The application requires the submission of necessary documents, including the subscriber’s sheet and proof of the registered office address
Attestation and Certification
- Partners need to attest the e-form using a PAN-based DSC (Digital Signature Certificate).
- The form must be certified by a practising professional (CA/CS/CWA).
Application Processing
- The Central Registration Centre (CRC) processes the application for approval.If required, the registrar may ask for further documents or information, with a maximum resubmission period of 20 days.
Certificate of Incorporation (CoI)
- The Certificate of Incorporation (CoI) in Form 16 is issued upon approval
- DPIN/DIN is also provided for the Designated Partners
- The CoI contains the LLP Identification Number (LLPIN), marking the official date of LLP incorporation
Commencing Business
- With the Certificate of Incorporation in hand, the LLP can legally commence its business under its registered name.
Apply for PAN and TAN
- Unlike companies, LLPs must separately apply for PAN and TAN through offline or online mode. Applications are made directly to the Income Tax Department using forms 49A and 49B, respectively, with the Certificate of Incorporation as supporting proof.