Online Limited Liability Partnership Registration (LLP)

Partner or Designated Partner requirements for LLP Registration

• A minimum of two partners are required for Limited Liability Partnership registration.
• A minimum of two designated partners are required for Limited Liability Partnership registration.
• Partners or Designated Partners can be same persons i.e., 2 persons can register a Limited Liability Partnership (LLP).

Documents required for LLP Registration

Initially, you need to provide following information

• Name of proposed LLP
• Business objects of the LLP
• State of registration
• Mail addresses and contact numbers of Partners/Designated Partners.

Documents required are as follows

• I. Identity and residence proof of Partners/Designated Partners:
  1. Scanned copy of pan card
  2. Scanned copy of Aadhaar card/driving license/voters’ identity card
  3. Bank statement/electricity bill or any other utility bill not older than 2 months (should be in the name of Director or Shareholder only)
• II. Documents for registered office of LLP:
  1. Scanned copy of electricity bill or no objection certificate in case of owned property or
  2. Scanned copy of rent agreement, electricity bill and no objection certificate if registered office premise is rented or
  3. Scanned copy of sale deed/property deed and no objection certificate in case of owned property and no electricity bill is available.

Limited Liability Partnership (LLP) registration package inclusions:

• Digital Signature of 2 Designated Partners.
• DIN of Designated Partners.
• Drafting of LLP Agreement.
• Filing of company registration application with Registrar of Companies along with MOA, AOA and application for allotment of Pan and Tan.
• Certificate of Incorporation
• Pan of the Company
• Tan of the Company
• PF & ESIC registration of the Company
• Assistance in opening bank account

Features of Limited Liability Partnership (LLP)

Limits the personal liability

A Limited liability partnership or LLP provides limited liability protection to its owners and partners. This means that if the LLP fails, the owners are not personally liable for any debts or liabilities incurred. This provides a great deal of financial security to the owners, as they are not at risk of losing their personal assets in the event of a business failure.

Flexible management structure

An LLP can be managed by its partners or by designated managers. The management structure is flexible and can be tailored to meet the needs of the business.

Separate legal entity.

A Limited liability partnership or LLP is a separate legal entity. This means that the LLP is recognized by the law as an independent legal entity and is responsible for its own liabilities and obligations. This provides the owners and partners with a great deal of freedom as they are not personally responsible for any of the company’s actions.

Easy and quick registration

The formation of a Limited liability partnership or LLP is relatively easy compared to other forms of business organizations. There are fewer legal formalities involved and the LLP can be formed in a matter of days.

Perpetual succession

A Limited liability partnership or LLP has perpetual succession. This means that the LLP continues to exist even if its owners or shareholders die or leave the company. This provides a great deal of stability to the company and allows the business to continue even in the event of changes in ownership.

Pass-through taxation

An LLP is a pass-through entity for tax purposes, which means that the profits and losses of the business are passed through to the partners and reported on their personal tax returns.

No restriction on the number of partners

An LLP can have any number of partners, making it a suitable option for businesses with multiple owners.

Online LLP Registration Process

• Choose a Unique LLP Name: The LLP name should be unique and should not be identical or too like existing company names already registered with the Ministry of Corporate Affairs (MCA)
• Obtain Digital Signature Certificates: The applicant should obtain the Digital Signature Certificates (DSC) of all the directors and the promoters.
• Draft the Limited liability partnership deed: Deed of Limited liability partnership or LLP should be drafted in accordance with the provisions of Limited liability partnership Act,2008.
• Submit online incorporation application on MCA portal: You need to file the LLP registration application with the Registrar of Companies (ROC) within the jurisdiction of the proposed LLP’s registered office. The application must be accompanied by the following documents:
  1. Incorporation document
  2. LLP Agreement
  3. Address proof of the registered office
  4. PAN card of all partners
  5. Identity proof of all partners
  6. Address proof of all partners
• Obtain Certificate of Incorporation: After verifying the application and documents, the Registrar of Companies will issue a Certificate of Incorporation to the LLP.

Why Fastlegal for LLP Registration

We make it easier for entrepreneurs to get their LLP registered online from the comfort of their home. With Fastlegal, you can get your LLP registration done in just 7-10 working days. We provide a comprehensive package that includes not only the registration process but also guidance through the entire process. This includes LLP name verification, filing of the documents, obtaining Director Identification Number and Digital Signature Certificate, getting the LLP registered with the Registrar of Companies, and more. Additionally, we also offer post-registration services like GST registration, filing of annual returns, and maintenance of statutory records.