Online LLP Registration
LLP Partnership Registration - Process, Fees, Documents, Benefits With Raag Consultants
LLP Registration is mostly done by New Startups, register a LLP under MCA with ✓2 DSC & DIN ✓Name Approval ✓COI ✓LLP Agreement ✓PAN ✓TAN & Bank A/c
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Estimated Registration Time: 7 Days
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LLP Registration | Register a LLP Partnership in India
LLP Registration which stands for limited liability partnership registration which is registered under Ministry of Corporate Affairs (MCA) and the beneficial part under llp registration is that the liability of the partners is limited which is not in the normal partnership firms registered under partnership act. Under llp registration, the registered llp company will govern as per the rules and regulations of Limited Liability Act, 2008. Professionals firms like Chartered Accountants, Company Secretaries, Advocates, recruiting firms and consulting business go for LLP registration for partnerships.
Comparison between LLP Registration and Private Limited Company Registration
LLP Registration is similar to Private Limited Company registration with respect to compliance and operational requirements. Through LLP Registration, the company got its separate identity from its designated partners and can operate and enter or execute a contract on its own name. Through LLP Registration, the liability of the partners of LLP Company is also limited. LLP Registration and its compliances are greater than the normal partnership firms but easier than the compliances of Private Limited Company. The main drawbacks of LLP Registration are that the ownership transfer is not an easy task and issue LLP Company can issue the ESOP to their employees.
LLP Registration is Simple with Raag Consultants
Raag Consultants’s Experts is very much capable to do LLP Registration and its compliances as per the rules and regulations of Ministry of Affairs and Limited Liability Partnership Act, 2008. Thousands of clients related to LLP Registration is connected with Raag Consultants and getting satisfied services from us. Our unique ways to process the LLP Registration work make the complicated process very easy for our clients.
Features of LLP
• LLP Registration is having separate legal identity.
• The liability of each partner is limited to the contribution made by partner
• LLP Registration Cost and Compliance cost is very low
•LLP Registration is having less compliances and regulations
• No requirement of minimum capital contribution
Minimum two partners is required for LLP Registration. The maximum limit of the partners is not defined anywhere so there is no maximum limit in case of LLP Registration. Among the partners, there should be minimum two designated partners who shall be individuals, and at least one of them should be resident in India. The rights and responsibilities of designated partners are defined under LLP Agreement. The designated partners of the LLP is responsible to comply with the provisions of the Limited Liability Partnership Act, 2008 and provisions specified in LLP Agreement.
If you want to start your business with Limited Liability Partnership, then you must get it registered under Limited liability Partnership Act, 2008.
Advantages of LLP Registration / Register a LLP Patnership
Limited Liability of Partners
After LLP Registration, the partners and the LLP Company is having separate legal entity and can enter into contracts in its own capacity and the LLP Registration also offers the great advantages to their partners by limiting their liability to the extent of their capital contribution. Under Normal Partnership firm, the liability of the partners is unlimited and their personal assets and belongings are on risk but this is not happened under LLP Registration. Liability of financial contribution of any partner is restricted to the capital contribution as per the LLP agreement under LLP Registration. Many new age businesses prefer LLP registration over partnership so that their personal assets remain safe in case of loss, or even insolvency.
Separate Legal Existence
Once the LLP registration in India is done, a separate legal entity is born in eyes of law. After LLP Registration, LLP Company own its own enter into contract with third party and can open its current account in any bank account. LLP Registration separates itself from its owners and managers. After LLP Registration, LLP Company can sue itself against any third party in case of any dispute.
Lower Compliance Requirement
The main benefit of LLP Registration over Private Limited Company Registration is that there is less compliances. Statutory Audit is not mandatory under LLP until the specified annual turnover mentioned in the rules, is not crossed but under company statutory audit is mandatory irrespective of the annual turnover of the Company. Statutory meetings, board meetings, annual general meetings are some of the mandatory compliances under Company but there is no such compliances under LLP Registration. Professional fees is also very reasonable for the compliances of LLP Registration in comparison of Companies
LLP Agreement as per LL Partnership Act, 2008 is the deed between the partners of LLP Registration, which defines the powers and duties of the designated partners as well as normal partners, which is the responsibility of every partners to follow them. It could also help in protecting partner’s interest in case of loss because of an unlawful act of any other partner.
Passport size photograph of Partners
Documents Required for LLP Registration / Partnership Registratiom
Copy of PAN Card of Partners
Copy of Aadhaar Card/ Voter identity card of Partners
Electricity/ Water bill (Business Place)
Copy of Property papers(If owned property)
Copy of Rent agreement (If rented property)
Landlord NOC (Format will be provided)
Compliances after LLP Registration / LLP Incorporation
Raag Consultants will assist you to maintain all the books of accounts mandatory for LLP Registration Company and all other compliances mandatory for LLP Company to comply with. Our Professional fees for book-keeping, accounting and compliances start with Rs. 8,500 per annually. The following are compliances that a LLP must comply each year.
Income Tax Return: LLP Registration must file income tax return using Form ITR 5. Form ITR 5 can be filed online through the income tax website using the digital signature of any Designated Partner.
MCA Annual Return: LLP Form 11 is due on or before 30th of May each year. Form 11 contains details of the number of partners, total number of partners, total contribution received by all partners, details of body corporate as partners and summary of partners. In addition to LLP Form 11, Form 8 must be filed within 30 days from the end of 6 months of the financial year along with some prescribed fee. Hence, LLP Form 8 would be due on or before 30th October of each financial year.
In addition to the above, GST registration, GST return filing and TDS return filing would be required for the LLP - based on the sales turnover and various other criterias.
Raag Consultants is the market leader in LLP registration services in India. In addition to LLP registration, Raag Consultants also offers a variety of business registration services like private limited company registration, one person company registration, Nidhi Company Registration, Section 8 Company Registration, Producer Company Registration and Indian Subsidiary registration.
Complete Procedure for LLP Registration / Partnership Registration
Step 1: Apply for Digital Signature Certificate (DSC)
Before starting the process of LLP Registration, the designated partners need to apply for digital signature certificate (DSC) to apply signatures on the LLP Registration Forms. All the documents and forms need to be digitally signed by the designated partners for the purpose of LLP Registration. DSC must be obtained from the government recognized agencies. Also, you should obtain either class 2 or class 3 category of DSC or you can contact us & let a Raag Consultants expert procure DIN for you. If you go for Limited Liability Partnership company registration with Raag Consultants, up to 2 DINs are covered in the plan & there is no need to apply for DIN separately.
Step 2: Obtain Designated Partner Identification Number (DPIN)
You have to apply for the DPIN of all the designated partners or those intending to be designated partner of the proposed LLP.
The application for allotment of DPIN 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 digitally signed by the existing designated partners of the LLP Company and acknowledge the acceptance of a new person as the partner of LLP Registration
Step 3: Reservation of Name (RUN FORM Approval)
LLP-RUN(Limited Liability Partnership-Reserve Unique Name) is filed for the reservation of name of 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 with fees as per Annexure ‘A’ which may be either approved/rejected by the registrar. A re-submission 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 a 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 rules and regulations of Limited Liability Act,2008 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. 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 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 LLP agreement has to be filed within 30 days of the date of LLP Registration.
• The LLP Agreement has to be printed on Stamp Paper. The value of Stamp Paper is different for every state.