Online Limited Liability Partnership Registration in India

Don’t wait any longer to register your Limited Liability Partnership (LLP) and start reaping the benefits of this business structure.

End to End Free Consultation

Hassle Free Process

Within 30 Days.

1. Fill Form

Fill The above Form to get started or reach out to us via email or call.

2. Call to discuss

Our experts will call you to discuss formalities and prepare documents.

3. Task Complete

We will prepare and submit all the documents for registering your company.

Get Started!

Name

Mobile Number

City

The form has been submitted successfully!

There has been some error while submitting the form. Please verify all form fields again.

Online Limited Liability Partnership Registration in India

Table Of Contents

Limited Liability Partnership – Overview
Limited Liability Partnership Registration Process
Documents Required for Online Limited Liability Partnership Registration
Benefits of Pvt Ltd Company Registration
Limited Liability Partnership Registration with Advisource
FAQs on Online LLP Registration in India

Limited Liability Partnership – Overview

In India, A Limited Liability Partnership (LLP) is a type of business entity that combines the features of a partnership and a private limited company. LLPs are suitable for businesses that want the benefits of a partnership, such as flexibility and shared decision-making, but with the added protection of limited liability for the partners.

In an LLP, the liability of the partners is limited to their capital contribution. This means that the personal assets of the partners are not at risk if the LLP incurs debts or obligations. However, the partners of an LLP are still personally liable for their own actions, such as fraud or negligence.

LLPs are required to have at least two partners, and there is no maximum limit on the number of partners. LLPs are governed by the Limited Liability Partnership Act, 2008, and are regulated by the Ministry of Corporate Affairs.

Limited Liability Partnership Registration Process

The process of registering a Limited Liability Partnership (LLP) in India typically involves the following steps:

Choose a suitable name for the LLP and check its availability. This can be done through the Ministry of Corporate Affairs’ (MCA) online name reservation portal.
Obtain a Digital Signature Certificate (DSC) and a Director Identification Number (DIN) for each partner.
File the LLP Incorporation Form (Form 2) with the MCA, along with the required documents, including the LLP Agreement and the Statement of Affairs.
Obtain approval from the MCA for the name of the LLP and the LLP Agreement.
Once the LLP has been incorporated, apply for a Permanent Account Number (PAN) and a Tax Deduction and Collection Account Number (TAN).

It is advisable to work with a legal professional or service provider like Advisource, us, to ensure that the process of registering an LLP is completed correctly and efficiently. The process can typically be completed within a few days to a week, provided that all necessary documents are in order and there are no delays in the process.

Consult an Expert

Mobile Number

Message

The form has been submitted successfully!

There has been some error while submitting the form. Please verify all form fields again.

Documents Required for Online Limited Liability Partnership Registration

ID Proof of all the Partners- Passport/Voter ID/Adhaar
Passport size photograph of all the partners
Address Proof of all the Partners- Electricity Bill/Latest Bank Statement/Mobile Bill) (not older than 2 months)
Pan Card of all the Partners
Address proof of the Registered Office – Rent Agreement (duly Notarized)/Bank Statement/Electricity Bill/Gas Bill on the name of Company /sale deed/property deed (in case of owned property)
No-Objection Certificate from the property owner (in case of Rented Property)
LLP Agreement

Benefits of Pvt Ltd Company Registration

There are several benefits to registering a Limited Liability Partnership (LLP) in India, including:

Limited liability: The liability of the partners in an LLP is limited to their capital contribution. This means that the personal assets of the partners are not at risk if the LLP incurs debts or obligations.
Shared decision-making: In an LLP, the partners have equal say in the management and decision-making of the business. This can foster a collaborative and democratic approach to business management.
Flexibility: LLPs offer flexibility in terms of profit sharing and management, as the partners can determine their own contribution and role in the business.
Ease of formation and operation: LLPs are relatively easy to set up and operate, and they do not have the same regulatory requirements as private limited companies.
Tax benefits: LLPs are taxed at a lower rate than private limited companies, making them a tax-efficient option for certain types of businesses.
Professional image: LLPs can be a more professional and credible option for certain types of businesses, such as professional practices, as they offer limited liability protection to the partners.

Limited Liability Partnership Registration with Advisource

Advisource, your trusted legal service provider, offers an affordable company registration process in India. The process includes handling all legal requirements and complying with the Ministry of Corporate Affairs, after which a Certificate of Incorporation, PAN, and TAN are issued. With these documents, a current bank account can be opened and the business can begin operations.

FAQs on Online LLP Registration in India

What are the steps to incorporate LLP?

To incorporate a Limited Liability Partnership (LLP) in India, the following steps must be taken:
1. Reserve a name for the LLP by filing eForm 1 to confirm its availability.
2. Incorporate the LLP by filing eForm 2, which includes information about the LLP and the details and consent of the partners or designated partners.
3. Execute an LLP Agreement, which is required by law and must be filed with the registrar in eForm 3 within 30 days of incorporating the LLP. The LLP Agreement outlines the terms and conditions of the partnership.

Can an existing partnership firm be converted to LLP?

An existing partnership firm can be converted into a Limited Liability Partnership (LLP) by following the procedures outlined in clause 58 and Schedule II of the LLP Act. This process involves filing Form 17 along with Form 2 in order to convert the partnership firm and incorporate the LLP.

How does LLP differ from Traditional Partnership and Company?

In a Limited Liability Partnership (LLP), the business has a corporate structure and the operations are governed by an agreement between the partners. This arrangement allows the partners to have more flexibility in their actions compared to a traditional partnership firm, where the partners are jointly responsible for the consequences of any actions. In an LLP, the liability of the partners is limited to their capital contribution, which means that their personal assets are not at risk if the LLP incurs debts or obligations.

I am an NRI. Can I form an LLP in India?

Non-resident Indians (NRIs) and foreign nationals who wish to enter into a partnership in a Limited Liability Partnership (LLP) are able to do so by submitting the necessary documents and getting them notarized by the relevant authorities. However, at least one of the designated partners in an LLP must be an Indian national. This means that NRIs and foreign nationals can participate in an LLP partnership in India, provided that they meet the necessary requirements and follow the proper procedures.

What is an LLP agreement?

An LLP agreement is a document that outlines the terms and conditions of the partnership between the partners and the Limited Liability Partnership (LLP). It typically includes provisions related to the management policies of the LLP, the admission of new partners, the profit sharing ratio, and the remuneration of the partners, among other things. The LLP agreement helps to establish the structure and functioning of the partnership and sets out the rights and responsibilities of the partners. It is an important document that should be carefully drafted and reviewed by all parties involved in the LLP.

What is LLPIN?

An LLPIN (Limited Liability Partnership Identification Number) is a unique 7-digit alpha-numeric registration number assigned by the Ministry of Corporate Affairs in India to a Limited Liability Partnership (LLP). For example, the number AAA-0002 was assigned by the Ministry of Corporate Affairs to CompaniesInn Consulting LLP, the first LLP to be registered online in India. The LLPIN is used to identify and track the registration and activities of an LLP in India. It is an important number that is required for various purposes, including filing tax returns and conducting business transactions.

What is the minimum number of partners required to start LLP?

As per the Limited Liability Partnership Act, at least two designated partners are required to establish an LLP in India. The designated partners are responsible for fulfilling all the necessary requirements and obligations related to starting and operating an LLP. They are responsible for managing the day-to-day affairs of the LLP and ensuring that it complies with all relevant laws and regulations. Designated partners are appointed by the partners of the LLP and their role and responsibilities are typically outlined in the LLP agreement.