LLP Registration

What is LLP Registration?

Limited Liability Partnership is the most preferred business structure by many entrepreneurs due to the reason that it provides benefits of both a company and a partnership. An LLP is governed by the Limited Liability Partnership Act, 2008, and as per the LLP agreement signed by the partners. Two major reasons that differentiate it from a partnership and that an LLP has a perpetual succession and the liability of its partners is limited. 

The basic requirement for incorporating an LLP is that it must have a minimum of two partners and a maximum it can have any number of partners. Therefore, registering an LLP can be an easy process, if you have an experienced team by your side to help with you with the registration process. AccountsWaale is committed to guiding you towards success and getting your LLP firm registration in the most effective manner. 

What are the Requirements for LLP Registration?

For LLP registration in India, the following requirements must be met:

• The name of any LLP must be unique and not similar to any other registered company, LLP, or trademark. 
• A minimum of two partners is required for LLP incorporation. 
• DSC and DPIN for the designated partners of an LLP. 
• There must be a properly signed agreement between the partners. It must reflect the rights and liabilities of the partners. This agreement is known as LLP agreement, 
• Proof of registered office. 
• The partners of LLP must contribute some amount of capital for LLP incorporation.
  
  

Documents Required for LLP registration

To register an LLP, two sets of documents will be required, that is documents of the partners and documents of the LLP. The important documents that will be required at the stage of incorporation are listed below:

Documents of Partners 

Every partner of the Limited Liability Partnership will be required to submit the following documents:

• PAN cards and identity documents for each partner.
• Provide address proofs for all the partners, such as driver’s license, passport, or voter ID.
• Partner’s passport-sized photograph on the white backdrop.
• If any foreign citizen or NRI wish to join the LLP, then their passports are also required.

Documents of LLP

• The LLP is required to mandatorily submit the following documents for registration: 
• At the time of registration or within 30 days of the LLP’s incorporation, documentation of the registered office of address must be provided. 
• If the registered office is located in a rented space, the landlord’s NOC is required.
• Proof of address of business is also required. You can provide a utility bill, but that shall not be two months old. 
• A Digital Signature Certificate (DSC), is required for signing the important documents of the LLP. 
  

LLP Registration Process

The procedure of registering for an LLP in India is not complex as it requires less compliance. Take a look at the steps below to understand the whole process:

Step 1: Obtaining a Certificate of Digital Signature (DSC)

Getting the digital signatures of each of the LLP’s selected partners is the first stage in registering the LLP. All documents submitted by the LLP must have a digital signature. The digital signatures on all the important documents facilitate the registration process and take relatively less time. 

Government organizations with certification, such as the National Informatics Center, IDRBT Certifying Authority, E-MUDHRA, CDAC, and NSDL, can provide the necessary digital signatures. Your application will determine the cost that you’ll have to bear for availing this certificate. 

Step 2: Select and reserve a unique name for LLP

The applicant must fill in the Limited Liability Partnership-Reserve Unique Name (LLP-RUN), which may be processed at the Central Registration Center, to register a proposed limited liability partnership. It is generally suggested to look for the existing names on the Ministry of Corporate Affairs (MCA) website, and then submit a name that is not already registered. This makes the registration process smooth and fast. You will already have a list of businesses that have the same name as the name selected for your proposed limited liability partnership. Make sure that the name you select, must not be same or resemble with any existing company. In order to reserve a name, file the LLP-RUN form with the requisite fee. 

Step 3: LLP Incorporation

In order to incorporate an LLP, the Limited Liability Partnership (FiLLiP) form must be completed and filed with the registrar along with the payment of a requisite fee. This application shall be filed by two individuals.

Step 4: Submit the LLP Agreement

The partners’ rights and obligations are governed by this agreement. Form 3 of the agreement may be submitted electronically via the MCA Portal.File the Form-3 within thirty days of incorporation and register the LLP agreement on the stamp paper where the LLP is incorporated. Therefore, you are also required to look at your state norms while incorporating an LLP in India. 

Step 5: Grant of Incorporation Certificate 

After properly verifying the application and documents submitted, the registrar issues the certificate of incorporation and the LLP firm comes into existence. 

How Much Time is Required for LLP Registration in India?

The time taken for registering an LLP depends upon the departmental approval and the accuracy of the application filed. Moreover, the process starts with getting a DSC by filing Form-3. In most cases, the process takes between 10 to 15 days. Well, there is no need for you to take any burden when PSR Compliance is there to handle the whole LLP registration process in Noida, India. 

For knowing the exact time and details required in the LLP incorporation process, please contact our experts and initiate the process most effectively.