LLP Registration In India
Get your Limited Liability Partnership registered to enjoy the double benefits of a partnership firm and a limited liability company, at just ₹499/-*.
LLP Registration With Finnsdom
Register your Limited Liability Partnership with us in 3 simple steps.
LLP Registration In India
Documents Required from Directors, Shareholders
- Pan Card Copy (Mandatory)
- ID Proof (Any one) – Driving License/ Voter ID/ Passport Copy/ Aadhaar Card
- Address Proof – Latest Bank Statement/ Latest Telephone or Mobile Bill/ Latest Electricity Bill.(MUST be less than 30 days old)
- Passport Size Photograph
Documents Required for Registered Office Address
- NOC – No Objection Certificate from the Owner of the Property
- Address Proof – Latest Telephone Bill or Mobile Bill/ Gas Bill/ Electricity Bill (MUST be less than 30 days old)
LLP Registration Online – An Overview
Limited liability partnerships (LLPs) are required to meet fewer criteria for compliance on filing annual returns, in comparison to private limited companies. LLPs are required to provide information related to the statement of accounts, and returns, on an annual basis. Penalties, however, are huge for failure to comply. Entities that don’t provide the requisite information are fined heavily, with penalties that can go up to Rs. 5 lakhs.
Benefits of an LLP
Here are the major reasons why people prefer the structure of an LLP for their business structure:
Limited Liability
The members of an LLP are only liable for a small amount of debt incurred by it. On the other hand, for proprietorships and partnerships, the personal assets of directors and partners are not protected if the business goes bankrupt.
Separate Legal Entity
An LLP is a separate legal entity from the partners in it. It has an uninterrupted existence that follows perpetual succession, i.e., the partners might leave, but the business remains. The terms of dissolution have to be mutually agreed upon for the firm to dissolve.
Flexible Agreement
Transferring the ownership of an LLP is also simple. A person can easily be inducted as a designated partner and the ownership switches to them.
Suitable For Small Business
LLPs having a capital amount less than ₹25 lakhs and turnover below ₹40 lakhs per year do not require any formal audits. This makes registering as an LLP beneficial for small businesses and startups.
Eligibility Criteria
To be eligible for registering as an LLP, the following criteria must be met:
- At least two partners are required to form an LLP (no upper limit)
- If a body corporate is a partner, a natural person must be nominated to represent it
- Each partner must have an agreed contribution towards the shared capital
- LLP should have an authorized capital of at least ₹1 lakh
- At least one designated partner should be an Indian resident.
Documents Required for LLP Registration
To register an LLP you need scanned copies of the following documents:
From partners:
- PAN card or passport (foreign nationals or NRIs)
- Aadhar card/ voter’s ID/ passport/ driving license
- Electricity bill/ gas bill
- Passport-size photograph
- Blank document with specimen signature.
Note: One partner must self-attest the first three documents. In the case of foreign nationals or NRIs, all the documents must be notarized (if currently in India or a non-commonwealth country) or apostilled (if from a commonwealth country).
For the registered office:
- Utility bills
- Notarized rental agreement in English
- No-objection certificate from the property owner
- Sale deed/property deed in English (in case of owned property).
How to Register an LLP Online with Finnsdom
You can register LLP online through Finnsdom. While we make LLP registration a simple 3-step process for you, the actual registration process is elaborate and is explained below for your knowledge:
Step 1: Obtaining DSC And DIN
All the forms that need to be submitted online require the directors’ DSC. So, the first step in the process is to get DSCs and DINs for 2 partners. We collect the necessary information from you and file for them.
Step 2: Application For Name Approval
Simultaneously, we check if the name you want to register under is available and reserve it for your LLP. You can check for name availability in the MCA portal.
The approval of the name will be made by the registrar only if the central government does not deem it undesirable. The name should not hold any resemblance to any of the existing partnership firms, LLPs, trademarks, or body corporates.
Step 3: LLP Agreement
The next step is to draft the LLP agreement and other documents for registration. An LLP agreement is very crucial in a limited liability partnership as it determines the mutual rights and duties amongst the partners, and between the LLP and the partners. Thus, our experts take utmost care in drafting this agreement.
The partners enter into the LLP agreement upon registering the LLP by filing Form 3 online on the MCA portal. This procedure has to be done within 30 days of the date of incorporation.
Step 4: LLP Incorporation Certificate
Our team will file the necessary forms and documents with the registrar. Once the registrar approves all the forms and documents, you get your LLP incorporation certificate and are almost set for running your business.
Step 5: Apply for Your PAN, TAN, & Bank Account
As soon as you get the incorporation certificate, we will apply for the PAN, TAN, and bank account for your LLP.
LLP Registration Package Inclusions
The following are included in Finnsdom LLP registration package:
- DSCs for 2 directors
- DINs for 2 directors
- Drafting of MoA & AoA
- Drafting partnership agreement
- Registration fees and stamp duty
- Company incorporation certificate
- PAN and TAN registration.
We also assist with:
- A first free consultation, followed by subsequent support to clear every concern you may face
- Complete support on opening a current bank account
- Comprehensive and on-time updates on ROC compliances
- Online accounting software valid for one year
- A master file that contains all the documentation needed to file the incorporation
- You will also get a zero balance current account – powered by DBS bank.
Why Finnsdom?
- Our package covers everything you need to incorporate your LLP and get it business-ready
- Our experts are up to date with the laws and have helped businesses like you register their LLP
- You can do all the tasks for registering your LLP through a simple and easy-to-use personalised dashboard. It is completely online and can be accessed through a desktop or the Finnsdom app on your mobile phone
- You’ll have your LLP incorporation certificate in 20 days
- Our support team is available to answer any questions you may have.
So you can start your LLP company registration process at ₹499/-.
