LLP Registration Online In India

In addition to lowering their liability for the activities of other partners, LLPs are a flexible legal and tax structure that enables partners to collaborate and achieve economies of scale. Check the laws in your country (and your state) before getting overly enthused, as you should with any legal entity. In other words, consult a lawyer first. There is a considerable probability that they have first-hand knowledge of an LLP.

Minimum Requirements for LLP Registration in India:

• Minimum Two People: Two people are needed for LLP registration in India. However, there is no limit on maximum partners.

• No Minimum Capital: Capital in case of LLP is depending on the need of the business and contribution to partnership by partners. The Stamp Duty on the deed is based on the amount of capital. 
   
• Resident Person requirement: One Designated partner of LLP must be from India. 
   
• Unique Name: Name of the LLP should be unique, and it must not be same or similar to the name of any existing company, LLP or trademark which is registered or applied for.

Features of LLP

• It has a separate legal entity just like companies.
• The liability of each partner is limited to the contribution made by the partner.
• The cost of forming an LLP is low.
• Less compliance and regulations.

• No requirement of minimum capital contribution.
  
  The minimum number of partners to incorporate an LLP is 2. There is no upper limit on the maximum number of partners of LLP. Among the partners, there should be a minimum of two designated partners who shall be individuals, and at least one of them should be resident in India.
  
  The rights and duties of designated partners are governed by the LLP agreement. They are directly responsible for the compliance of all the provisions of the LLP Act 2008 and provisions specified in the LLP agreement.
  
  If you want to start your business with a Limited Liability Partnership, then you must get it registered under the Limited liability Partnership Act, 2008.

Documents required to Register LLP in India:

Step 1: Obtain Digital Signature Certificate (DSC)
 

Before initiating the process of LLP registration online in India, you must apply for the digital signature of the designated partners of the proposed LLP. This is because all the documents for LLP are filed online and are required to be digitally signed. So, the designated partner must obtain their digital signature certificates from government-recognized certifying agencies.

Here is a list of such certified agencies. The cost of obtaining DSC varies depending upon the certifying agency. Also, you should obtain the class 3 category of DSC or you can click here & let an Online Legal India expert procure DIN for you. If you go for Limited Liability Partnership registration in India with Online Legal India, up to 2 DINs are covered in the plan & there is no need to apply for DIN separately.

Step 2: Apply for Director Identification Number (DIN)
 

You have to apply for the DIN of all the designated partners or those intending to be designated partners of the proposed LLP. The application for allotment of DIN has to be made in Form DIR-3. You have to attach the scanned copy of documents (usually Aadhaar and PAN) to the form. The form shall be signed by a Company Secretary in full- time employment of the company or by the Managing Director/Director/CEO/CFO of the existing company in which the applicant shall be appointed as a director.

Step 3: Name Approval
 

LLP-RUN (Limited Liability Partnership-Reserve Unique Name) is filed for the reservation of the name of the proposed LLP which shall be processed by the Central Registration Centre under Non-STP. But before quoting the name in the form, it is recommended that you use the free name search facility on MCA portal. The system will provide the list of closely resembling names of existing companies/LLPs based on the search criteria filled up. This will help you in choosing names not similar to already existing names. The registrar will approve the name only if the name is not undesirable in the opinion of the Central Government and does not resemble any existing partnership firm or an LLP or a body corporate or a trademark. The form RUN-LLP has to be accompanied by fees as per Annexure ‘A’ which may be either approved/rejected by the registrar. A resubmission of the form shall be allowed to be made within 15 days for rectifying the defects. There is a provision to provide for 2 proposed names of the LLP.

Step 4: Incorporation of LLP
 

1.The form used for incorporation is FiLLiP(Form for incorporation of Limited Liability Partnership) which shall be filed with the Registrar who has jurisdiction over the state in which the registered office of the LLP is situated. The form will be an integrated form.

2.Fees as per Annexure ‘A’ shall be paid.

3.This form also provides for applying for allotment of DPIN, if an individual who is to be appointed as a designated partner does not have a DPIN or DIN.

4.The application for allotment shall be allowed to be made by two individuals only.

5.The application for reservation may be made through fill up too.

6.If the name that is applied for is approved, then this approved and reserved name shall be filled as the proposed name of the LLP.

Step 5: File Limited Liability Partnership (LLP) Agreement
 

LLP agreement governs the mutual rights and duties amongst the partners and also between the LLP and its partners. LLP agreement must be filed in form 3 online on MCA Portal. Form 3 for the LLP agreement has to be filed within 30 days of the date of incorporation. The LLP Agreement has to be printed on Stamp Paper. The value of Stamp Paper is different for every state.

Conclusion:  

Limited Liability Partnership (LLP) has become a preferred form of organisation among entrepreneurs as it incorporates the benefits of both partnership firm and company into a single form of organisation. The concept of the Limited Liability Partnership (LLP) was introduced in India in 2008. An LLP has the characteristics of both the partnership firm and company. The Limited liability Partnership Act, 2008 regulates the LLP in India. Minimum two partners are required to incorporate an LLP. However, there is no upper limit on the maximum number of partners of an LLP. You can register LLP online in India with the help of Online Legal India. Our professional will help you in LLP registration hassle free.