Limited Liability Partnership (LLP) Registration in India

Limited Liability Partnership (LLP) is a contemporary and advantageous business structure. Blending the strengths of partnership dynamics and the security of limited liability, an LLP offers a versatile platform for entrepreneurs to collaborate and innovate confidently.

Getting your LLP registered in India is super easy with IndiaFilings. Many businesses trust us to help them register their Limited Liability Partnerships and ensure they follow the rules. Our team of experts will guide you through the online registration process from beginning to end. It's the fastest and cheapest way of LLP company registration, all you have to do is just reach out to us. Start now and set yourself up for a successful business future with LLP registration online.

What is an LLP?

A Limited Liability Partnership (LLP) is a unique type of business setup that blends a partnership's and a company's features. In an LLP, partners enjoy limited liability, similar to shareholders in a company, while also benefiting from the flexibility and simplicity of a partnership. This arrangement grants the LLP its legal identity, allowing it to take legal actions and be subject to legal actions separately from its partners.

LLPs have become popular among entrepreneurs in various industries because they shield partners' assets and have more straightforward regulatory requirements than traditional corporations. The concept of LLP was introduced in India in 2008 and is governed by the Limited Liability Partnership Act, offering a dependable and adaptable option for businesses of all sizes.

LLP Registration Prerequisites and Eligibility Conditions

• Minimum of Two Partners: Establishing a Limited Liability Partnership in India necessitates a minimum of two partners, with no upper threshold on the maximum number of partners.
• Designated Partners: Within the partnership framework, at least two selected partners are obligatory, and they must be natural individuals. At least one of these designated partners must also maintain residency in India for an LLP incorporation.
• Nomination for Body Corporate Partner If a body corporate assumes the role of a partner, the designation of a natural person must act as its representative.
• Agreed Contribution: Each partner is required to contribute the shared capital of the LLP, as stipulated and agreed upon.
• Minimum Authorized Capital: To register LLP, it is mandated to possess an authorized capital of at least Rs.1 lakh.
• Indian Resident Designated Partner: At least one designated partner of the LLP must hold a resident status in India.

Characteristics of Limited Liability Partnership (LLP)

• Legal Identity: Like big companies, an LLP has a separate legal identity. This means it's seen as its own "person" regarding rights and responsibilities, separate from those who own it.
• At Least Two Partners: An LLP needs at least two people to start it. This teamwork helps in setting up the business and working together.
• No Partner Limit: Unlike some other businesses, there's no highest number of partners an LLP can have. This makes it easy to grow and bring in more partners.
• Two Designated Partners: A Limited Liability Partnership must have at least two "main" partners. These people must be real individuals, and at least one should live in India.
• Limited Responsibility: One big plus of an LLP is that if something goes wrong, each partner is only responsible for what they put in. So, personal things are safe from business problems.
• Cost-Effective Start: To register LLP, costs less than setting up a big company. This makes it a great option for smaller businesses.
• Less Rules to Follow: LLPs don't have to follow as many rules and regulations as big companies. This means less paperwork and less to worry about.
• No Minimum Money Needed: Unlike big companies, you don't need a certain amount to start an LLP. Partners can invest what they can afford.

Advantages of LLP

• Own Legal Identity: An LLP is like its own person, just like big companies. This helps people trust and work with it, as it can do legal things independently.
• Less Risk for Partners: LLP partners are only responsible for what they put in. They don't have to pay for all the debts or losses, which is good for their reputation.
• Saves Money and Time: To register LLP, the costs are less and have fewer rules than big companies. There's less paperwork to do every year.
• No Fixed Money Needed: You don't need much money for LLP company registration. Partners can put in whatever amount they want.

Disadvantages of LLP

• Getting in Trouble for Not Following Rules: Even though LLPs have fewer rules, they can get big fines if they don't follow them on time.
• Ending an LLP: An LLP needs at least two partners. It must stop if it has fewer than two partners for six months.
• Hard to Get Big Money: LLPs don't work like big companies where people invest money and become owners. This makes it tricky to get a lot of money from investors.

LLP Name Structure

Choose a unique name that is not used by other businesses. This makes approval easier and establishes your identity. Include words that clearly describe what your business does. This helps people understand your services or products.

End your LLP name with "LLP" or "Limited Liability Partnership." This is necessary to show your business structure and essential part of your LLP registration process.

Documents Required for Registration

• PAN Card/ID Proof of Partners
• Address Proof of Partners
• Residence Proof of Partners
• Passport-size Photograph
• For Foreign Nationals and NRIs
• Proof of Registered Office Address
• Digital Signature Certificate (DSC)

Procedure for LLP Registration

• Obtain a Digital Signature Certificate (DSC)
• Obtain Director Identification Number (DIN)
• Choose a Name for the LLP
• Form for LLP Incorporation (FiLLiP)
• Draft LLP Agreement
• Obtain a Certificate of Incorporation
• Apply for PAN and TAN

Effortless LLP Registration Made Possible with Global Taxman

Global Taxman is your trusted companion throughout the entire LLP registration online journey. Here's how we can assist you:

• Experienced Professionals: Our skilled team knows the ins and outs of LLP company registration. We'll provide you with accurate information, ensuring you grasp each step.
• Name Availability: We'll help you check if your desired Limited Liability Partnership (LLP) name is available and reserve it according to the rules.
• DSCs and DINs: We'll assist you in getting the Digital Signature Certificates (DSCs) and Director Identification Numbers (DINs) necessary for the process.
• LLP Agreement: Our experts will aid in drafting the LLP Agreement, ensuring it's legally sound. We'll also manage to file the required documents with the authorities, keeping things accurate and compliant.
• PAN and TAN Application: We'll simplify the application process for your LLP's Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN).
• Customer Support: We're here for you. Our customer support will address your questions, ensuring your LLP registration process journey is seamless.
• Affordable LLP Registration Fees: Our LLP registration fees are designed to be affordable with high-quality service, including MCA name approval, instant filing, name choices, etc., for a seamless startup experience.
• Timely Updates: You'll receive timely updates on your LLP company registration progress, keeping you informed every step of the way.

With Global Taxman as your partner, you can confidently navigate LLP formation with reasonable LLP registration fees, guided by experienced professionals who will ensure a hassle-free experience from start to finish.