Register Your Limited Liability Partnership (LLP) Online in India
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Four Steps to Get Your LLP Registration
Fill the Form
Provide business details
Add to cart
Pay the required fee online
Submit Documents
Upload required papers
Certificate delivery
Official Document Delivery
Find the best plan for your needs
Basic Plan
+GST
- LLP Name Approval
- DPIN for 2 Directors
- DSC for 2 Directors
- LLP Incorporation Certificate
- PAN & TAN Application
- LLP Agreement Drafting
- LLP Master Data
- Current Account Opening Support
- Electronic Certificate Delivery
Standard Plan
+GST
Basic Plan
+
- MSME/Udyam Registration
- Form 3 Filing
- Auditor Appointment
- Hard Copy Certificate Delivery
Premium Plan
+GST
Standard Plan
+
- Trade license
- Shops & Establishment License
- GST Registration
- Business Letterhead(10 copies)
- LLP Seals
Overview of LLP
A Limited Liability Partnership (LLP) in India is a hybrid business structure introduced by the Limited Liability Partnership Act, 2008, combining the benefits of both partnership and company forms of business. It offers limited liability protection to its partners, meaning their personal assets are not at risk for the debts of the LLP, while allowing operational flexibility through a partnership-like management structure.
LLPs are particularly suitable for small and medium-sized enterprises and professional services firms, as they provide a simpler and more flexible regulatory framework compared to a private limited company. LLPs require at least two partners, with no upper limit on the number of partners, and must file annual returns and financial statements with the Registrar of Companies.
A Limited Liability Partnership (LLP) in India is a hybrid business structure introduced by the Limited Liability Partnership Act, 2008, combining the benefits of both partnership and company forms of business. It offers limited liability protection to its partners, meaning their personal assets are not at risk for the debts of the LLP, while allowing operational flexibility through a partnership-like management structure.
LLPs are particularly suitable for small and medium-sized enterprises and professional services firms, as they provide a simpler and more flexible regulatory framework compared to a private limited company. LLPs require at least two partners, with no upper limit on the number of partners, and must file annual returns and financial statements with the Registrar of Companies.
Advantages & Disadvantages
Advantages of Limited Liability Partnership (LLP)
Simplicity in Formation
It is relatively easy to form a LLP, since the process is simpler as compared to Company formation and involves lesser formalities and expenses.
Easy Transferable Ownership
It is easy to become a partner or leave the LLP. It is easier to transfer the ownership in accordance with the terms of the LLP Agreement.
Taxation
Another major benefit of incorporation is the taxation of a LLP. LLPs are not subject to Dividend Distribution Tax unlike companies, thus, there will not be any tax on distribution of profit to the partners.
Perpetual Succession
An incorporated Limited Liability Partnership (LLP) enjoys perpetual succession, meaning it remains unchanged regardless of changes in its partners. It retains its rights and properties and continues to exist until legally dissolved.
Fund-Raising
Financing a small business like a sole proprietorship or partnership can be difficult at times. A LLP, being a regulated entity like a company, can attract finance from banks/financial institutions, etc.
Liability
An LLP is a separate legal entity, distinct from its owners. All liabilities, including debts and legal actions, are borne by the LLP and not the individual owners, providing an extra layer of protection for businesses at risk of litigation.
Advantages & Disadvantages
Disadvantages of Limited Liability Partnership (LLP)
Binding Actions
Actions taken by any partner can obligate the entire LLP, potentially leading to unintended legal or financial consequences.
Extended Liability
In certain situations, the partners’ personal assets might be at risk if the LLP’s liabilities exceed its resources.
Capital Limitations
LLPs cannot issue shares or raise funds from the general public, which may limit expansion opportunities.
Complex Dissolution Process
Unlike simple partnerships, dissolving an LLP involves a more complex and time-consuming legal process.
Frequent Documentation Updates
Any changes in the LLP’s structure, like addresses or partnership terms, require updates to the original agreement.
Privacy Concerns
LLPs must disclose financial statements publicly as per legal requirements, reducing privacy.
Who Can Be a Partner in a LLP?
Under the LLP Act 2008 and its rules, partners in an LLP can include:
Note: Traditional partnership firm cannot become a partner in an LLP because it is not considered a separate legal entity.
Differences Between
Minimum Requirements
As Per LLP Act, 2008, there are Minimum Requirements that need to be met For LLP Incorporation in India.
Minimum 2 Designated Partners
Unique bussiness Name
At least one partner must be a resident of India
Registered office address
Documents for LLP Incorporation
The following documents need to be scanned and attached for LLP Incorporation
Identity & Address of Partners
Registered Premises Documentation
Identity & Address of Directors
Scanned Copy of PAN & Aadhaar/Driving License/Passport/Voters ID
Copy of Recent Utility Bills or Bank Statement (Not Older Than 2 Months)
Digital Passport-Size Photo
Email ID & Phone Number
Registered Premises Documentation
Copy of Recent Utility Bills (Not Older Than Two Months)
Scanned Notarized Rental Agreement (English Version)
Scanned No-Objection Certificate from Property Owner
Scanned Copy of Sale/Property Deed in English (For Owned Property)
Scanned Copy of PAN & Aadhaar/Driving License/Passport/Voters ID
Copy of Recent Utility Bills (Not Older Than Two Months)
Copy of Recent Utility Bills or Bank Statement (Not Older Than 2 Months)
Scanned Notarized Rental Agreement (English Version)
Digital Passport-Size Photo
Scanned No-Objection Certificate from Property Owner
Email ID & Phone Number
Scanned Copy of Sale/Property Deed in English (For Owned Property)
Note: The registered office for your business can be a residential address; it does not need to be a commercial space.
LLP Incorporation Procedure
Incorporating a Limited Liability Partnership (LLP) in India involves a series of steps
Decide Proposed Names: Applicants must select potential names for the LLP prior to the reservation process.
Check Name Availability: Use the Ministry of Corporate Affairs (MCA) portal to ensure the chosen names are not already in use.
Apply for Name Reservation: Through the MCA portal, submit a name reservation request using PART-A of the SPICe form. If the first choice is unavailable, consider alternatives.
Processing Time: The Central Registration Centre usually takes 1 to 3 working days to respond to your name reservation request.
Outcome and Validity: If the name is approved, it is reserved for 90 days, during which you should proceed with the incorporation process. If not approved, adjust based on feedback and resubmit.
Requirement: All designated partners must obtain a Digital Signature Certificate. This is a crucial step as DSCs are needed for electronically filing the incorporation documents.
Application: Apply for the DSCs through certified authorities that issue these certificates, ensuring that each designated partner has one for the upcoming steps.
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Director Identification Number (DIN): Acquire DIN for all designated partners or those intending to be designated by filling out Form DIR-3.
Fill Out the FiLLiP Form: This form includes applications for DINs, details about the business location, activities, partner contributions, and necessary declarations.
Digital Signatures and Professional Verification: All designated partners must digitally sign the FiLLiP form, which must also be signed by a professional (CA, CMA, CS, or Advocate) for verification.
Online Submission and Review: Submit the incorporation documents via the MCA portal. Ensure all forms are accurate and complete before payment of the requisite government fees and stamp duty.
Examination by ROC: The Registration of Companies (ROC) will review the submission and may request clarifications. Address these promptly if required.
Receiving COI: Once the MCA approves the incorporation documents and no further clarifications are needed, a Certificate of Incorporation is issued. This document is proof of the legal formation of the LLP.
Post-Incorporation Requirements: Following the issuance of the COI, the LLP must apply for a Permanent Account Number (PAN), a Tax Deduction and Collection Account Number (TAN), and open a bank account under the LLP’s name to commence operations.
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Incorporation of a private limited company within 7-14 working days.
Incorporation of a private limited company within 7-14 working days.
Documents Received After LLP Formation
Incorporation Certificate                                
Permanent Account Number (PAN) of the company    Â
Tax Deduction Account Number (TAN) of the CompanyÂ
Articles Of Association (AOA)Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
Memorandum Of Association (MOA)Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
Direction Identification Number (DIN)Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
Digital Signature Certificate (DSC)Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
Company Master Data                                 Â
Post Incorporation Compliances
Compliances for a Limited Liability Partnership (LLP) in India as required by the Ministry of Corporate Affairs (MCA), the LLP Act 2008, and other applicable laws
- Opening of a bank account
- First board meeting of the company
- Appointment of first auditors (ADT-1)
- Disclosure of director’s interests (MBP-1)
- Filing of INC-22
- Printing of letterhead & statutory registers
- Deposit of subscription money as per MOA
- Allotment of shares (PAS-3)
- Issuance of share certificates
- Payment of stamp duty
Filing of INC-20A to ROC (Declaration for Commencement of Business)
- Maintenance of statutory registers
- Register of members
- Register of charges
- Register of KMP
- register of loans & advances etc
- Minutes for Board & General Meetings
- Managing books of accounts
- Convening & holding the AGM
- Adoption of Annual Financial Statements
- Filing of AOC-4, MGT-7 to the ROC
- Filing of Income Tax Return (ITR)
- Filing DIR-3 KYC of Directors to ROC
- Changes in Directorship or Shareholding
- Change in Registered Office (INC-22)
- Alterations in MOA or AOA
- Loans, Investments, & Guarantees (MGT-14)
- Creation or Modification of Charges (CHG-1)
How V Smart Auditor can help ?
Our expert team at V Smart Auditors is committed to making your One Person Company incorporation process as seamless as possible. Here’s what you can expect when you choose us as your partner:
