PSD FILINGS

Limited Liability Partnership (LLP) Registration

Registering a Limited Liability Partnership (LLP) online is a streamlined process designed for ease and efficiency.

Access the official portal and choose 'LLP Registration' for a streamlined process.
Submit required documents, such as address and identity proof, online during the application.
The Ministry of Corporate Affairs verifies the application, and upon approval, issues a unique identification number.
This online registration method offers businesses a convenient and time-efficient way to establish a legal entity with limited liability benefits.

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Limited Liability Partnership (LLP) Overview

Registering an LLP is a modern and widely recognized business model globally. LLP companies undergo registration with the Ministry of Corporate Affairs under the Central Government. Secure your LLP registration effortlessly with PSD Filings.

An LLP blends partnership and corporation traits, providing partners with limited liability and retaining a flexible partnership structure, combining the benefits of both entities for business operations.

In an LLP, partners have autonomy in business management, structuring roles based on their agreement. LLPs offer tax advantages with pass-through taxation, ensuring individual partners are taxed for profits.

For entrepreneurs, LLPs stand as the preferred business structure. This approach prevents double taxation on both the entity and its partners, enhancing the overall tax efficiency for LLPs.

The simplicity of LLPs lies in their unique feature of limited liability, granting partners freedom in forming a business where individual liabilities are restricted to their invested capital.

During business challenges, the partners' personal assets, property, or income are protected. Creditors or investors are unable to claim them, thereby ensuring the partners' financial security and stabilitys

LLP Registration Required Documents

For LLP registration, partners need proof of identity, PAN cards, and Aadhar cards. Address proofs, passport-sized photos, and utility bills are also required. Documentation for the registered office includes electricity bills, rental agreements, and a No Objection Certificate (NOC). Additionally, a comprehensive partnership agreement outlining roles and responsibilities, along with a statement of LLP Act compliance, is essential. Ensuring the accuracy and completeness of these documents is crucial for a smooth LLP registration process.

PAN Card

Shareholders and directors must provide PAN cards. Foreign nationals require a valid passport. These documents are essential for identity verification and regulatory compliance in company affairs.

ID Proof

Shareholders and directors need to provide identity proof, including Aadhar card and either Voter ID, Passport, or Driving License, confirming their identity in official documents.

Director’s Address Proof

Shareholders and directors must provide recent address proof, including a telephone bill, electricity bill, or bank statement, confirming the residential addresses of key company individuals.

Photograph

Current passport-sized photos of Shareholders and Directors are mandatory. It's crucial to verify that these photographs are the most recent to meet documentation requirements accurately.

Business Address Proof

Recent utility bills like electricity or telephone bills serve as valid proofs for the registered office address, ensuring compliance and authenticity in business documentation.

NOC

In the process of establishing your business, it is imperative to acquire a No Objection Certificate (NOC) from the owner(s) of the registered office, confirming their consent for your business presence

Sale Deed

The Deed of Sale, written in English, is necessary for owned properties. This legal document outlines the details of property transfer and serves as evidence of ownership.

Limited Liability Partnership Firm Registration Process

Listed below are the steps for the successful completion of the Limited Liability Registration process.

Documents Required

To start the LLP registration process, the documents needed are partner details, business addresses, and LLP deed. Complete the online questionnaire by filling in the details in the fields.

Name Selection

Ensure your LLP name is distinct from existing companies or trademarks; verify its availability on the MCA and IP India websites, adhering to guidelines for a valid selection.

Apply for DSC

The LLP registration process is completely online; fill out the application form and upload the latest necessary documents, signed with the designated partner's digital signature certificate (DSC).

Name Approval

Once you choose a LLP name, reserve it through the RUN application on the MCA website, allowing two proposed names per application and two chances for resubmission if needed.

Fill the Fillip Form

Submit FiLLiP form for LLP incorporation in India to ROC. A designated partner signs with a DSC, submit documents and the application fee linked to the LLP's authorized capital.

Issue Certificate

After submitting the FiLLiP form to the ROC, inspection, and verification of the details and accompanying certificate, the LLP is registered & certificate is issued with ID.

LLP Agreement

Post LLP registration, partners create and sign a valid LLP deed on stamp paper, detailing rights and duties and Submit the deed to the ROC via Form-3 within 30 days.

PAN Card & TAN Number

Obtain LLP's PAN and TAN via forms 49A and 49B under the Income Tax Act which is mandatory. PAN is crucial for tax payments, while TAN facilitates tax deductions.

Advantages of LLP Registration

Limited Liability Partnership registration offers the advantage of limited personal liability for partners, protecting their assets. It also provides flexibility in management and a straightforward compliance process, making it an appealing business structure.

Limited liability

This in an LLP is contingent on the contribution made by each partner to the business.

Separate Legal Entity

An LLP is recognized so, signifying that the company is responsible for debts and holds assets in its own name.

No Manager/Owner Distinction

In a limited liability partnership company, partners both manage and own the business.

Reduced Compliance Requirements

Only three annual compliances are required

Windup Easily

It takes only three months to complete the winding up procedure