Limited Liability Partnership Registration

Limited Liability Partnership Registration

Well, to register an LLP in India, first check eligibility and required documents, then understand the detailed step-wise procedure which is followed for registration of Limited Liability Partnership. LLP is an alternative corporate business form that gives the benefits of limited liability as present in a company and the flexibility of a partnership business; In other words, it offers advantages of both worlds by bringing simplicity in management akin to partnership firms and scope of expansion like that of a company. The biggest advantage of LLP form of business over a Pvt Ltd Company is in the fact that there is less compliance requirement in comparison to a Company.

Requirements

  • Minimum Shareholders: LLP can be registered in India by at least two persons who shall act as partners of LLP. There is no cap on the maximum number of partners in LLP.
  • Minimum Designated Partner: Minimum 2 designated partners, at least one of them shall be resident in India. A person is said to be resident if he or she stays in India for at least 182 days during the preceding financial year irrespective of their citizenship. The days can be in phases.
  • Capital Requirement: Invest as per requirement of your business, and there is minimum capital of Rs 10,000/- requirement as such to be maintained in the LLP.
  • Unique Name of LLP: The proposed name of the LLP should not resemble any existing company or LLP. Further you must check the trademark registry to ensure that the name does not match with any registered or applied trademark in India.

Documentation

  • Identity Proof & address proof of each promoter
  • Identity proof & address proof of each partners with photograph
  • PAN Card of each director and promoter
  • Signed declaration(s) from promoter and director
  • Proof of Registered Office of the LLP
  • Utility bill as proof must be latest with NOC from owner of premises

Registration Process

  • Digital Signature: As the application for LLP Incorporation is filed online, the process starts with the issuance of Digital Signatures of class two of directors.
  • Name Approval: LLP name must be unique and should not be same or similar to an existing company, LLP or a trademark.
  • Filling of Incorporation: One single application is filed for incorporation of the LLP. with the approval of this the Certificate is issued.
  • PAN, TAN: The IT Department allots PAN & TAN, which is mentioned on the certificate of incorporation.

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