Limited Liability (LLP)
What is LLP or Limited Liability Partnership ?LLP is a separate legal entity that gives the benefit of limited liability of company plus the flexibility of partnership, wherein no partner is held liable on account of other’s partner misconduct and their rights and duties to be governed by LLP agreement. Limited Liability Partnership has been introduced in India by way of Limited Liability Partnership Act, 2008. The basic premise behind the introduction of Limited Liability Partnership (LLP) is to provide a form of business organization that is simple to maintain while at the same time providing limited liability to the owners.
What Is Included In Our LLP Registration Package?
DPIN for 2 Partners
Digital Signature For 2 Partners
ROC Fees & Pan card
Name search & approval
Free Accounting Software & GST filing
Procedure For LLP Registration
Complete our Simple Form
Obtain DSC and DPIN from us
Verification and Name Approval
Your work is completed
Documents Required For Company Registration
Copy of PAN Card of partners
Electricity/ Water bill (Business Place)
Passport size photograph of partners
Copy of Property papers(If owned property)
Copy of Aadhaar Card/ Voter identity card
Landlord NOC (Format will be provided)
Copy of Rent agreement (If rented property)
Steps Involved in LLP Registration
- 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. Within a timeframe of 5 to 7 working days DPIN and DSC can be obtained for the proposed Partners. If the partners already have DSC and DPIN, then this step can be skipped..
- Name approval : A minimum of one and a maximum of six proposed names are required to be given to the MCA. Subject to availability, naming guidelines and MCA processing time, we will get back to you with the Name approval within 5 to 7 working days. Names provided should ideally be unique and suggestive of company business.
- MOA & AOA submission :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.
- Get incorporation certificate :Incorporation documents can be submitted to the MCA along with an application for incorporation. MCA will usually approve the application for incorporation in 5 to 7 days, subject to their processing time. Incorporation certification is a proof that company has been creation. It also includes your CIN number.
- Apply for PAN, TAN and Bank account : Then you need to apply for PAN and TAN. PAN and TAN are received in 7 working days. Post this, you can submit the Incorporation certificate, MOA, AOA and PAN with a bank to open your bank account.
Minimum Requirements For Company Registration
- Minimum 2 partners
- No Capital Requirement
- DPIN for all the Directors
- At-least one Designated partner should be an Indian Resident
Frequently Asked Questions
1What is the minimum number of Partners required to start a Limited Liability Partnership?
At least two partners are required for LLP registration. The maximum partners can be 200. If you are the sole owner, you can register as a One Person Company.
2Who can be a member in LLP?
Any individual/organisation can become the partner in LLP including foreigners/NRI’s. However, the individual must 18+ above in terms of age and should have a valid PAN card.
3Do i have to be available in person to incorporate and LLP?
Our procedure is 100% online which means there is no compulsion for you to be present at our office physically. A scanned copy of documents can be sent to us via mail, and we will handle the rest. You will get the company incorporation certificate from MCA via courier at your business address.
4Are there any other payments to be made for incorporation certificate in addition to fee paid at the time of registration?
There is absolutely no other payment. Our charges are inclusive of everything. We will send you an invoice with no hidden charges. Our team provides you support till you get your bank account.
5How much money do i need to invest upfront in starting the business?
You need to have a bank account with a minimum balance, which could be as little as Rs. 5000. You need not invest any more capital in starting the business. You needn’t even deposit this amount to the bank. You can also show that the capital has been utilised as the pre-incorporation expenses of LLP e.g, LLP registration expenses. You can also show this capital has been infused in form of assets such as computers etc.
6Can NRIs/Foreign National become a Director in LLP Company?
Yes, but only after he has been assigned with DIN/DPIN. However, at least one designated partner in LLP must be a Resident of India. In fact, the foreign director can also be a majority shareholder in the company
7Can i register the LLP at my home address?
Yes, you can register your LLP at your residential address. It is perfectly legal to start the company at your home or in your garage. MCA team typically doesn’t visit your office. You just have to provide your home address proof such as rent agreement or electricity bill.
8Do i need a proper office address to start a company?
No, you don’t need a proper office. You can even register your company at your residential address. It is perfectly legal to start the company at your home or in your garage. MCA team typically doesn’t visit your office.
9Can a Salaried working person also become a partner of a LLP Company?
Yes, you as a salaried person can become a partner in an LLP. You need to check your employment agreement if that allows for such provisions. In most, cases employers are comfortable with the fact that their employee is a director in another company.
10Can i convert my Limited Liability Partnership (LLP) in a Private Limited Company?
No, you can’t convert your LLP into a Private Limited Company as it is not MCA. Both the LLP Act, 2008 and the Companies Act, 2013 don’t have any provisions on conversion of LLP in a private limited company. However, if you want to expand your business you can register a new Private Limited Company with the same name as that of the LLP. The LLP Company just needs to issue a no objection certificate.