LLP Registration Services

LLP Registration

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Pre-requisites for registering a LLP

Minimum 2 Partners (Individual or body corporate)
Minimum 2 Designated Partners who are individuals and at least one of them
should be resident in India.
Digital Signature Certificate
LLP Name
LLP Agreement
Registered Office


LEGAL FRAMEWORK:-

The Limited Liability Partnership (LLP) is governed by Limited Liability Partnership (LLP) Act, 2008 and Limited Liability Partnership Rules, 2009. The LLP Rules, 2009 contains administrative provisions for formation, management, reconstruction and winding up of LLPs. Central Government can make applicable any provision of Companies Act to LLP with suitable modifications by issuing a notification. The Indian Partnership Act, 1932 shall not be applicable to LLPs.


Key features of LLP Act are as follows: -

LLP shall be a body corporate and a legal entity separate from its partners. It is like a corporation;

- There shall not be any upper limit on number of partners in an LLP unlike an ordinary partnership firm where the maximum number of partners cannot exceed 20 (10 in case of banking);


- While the LLP will be a separate legal entity, liable to the full extent of its assets, the liability of the partners would be limited to their agreed contribution to the LLP. Further, no partner would be liable on account of independent or unauthorized actions of other partners. The framework of LLP is not restricted to professional services alone. Several business activities can be undertaken using the LLP structure;


Steps for LLP Registration in India:

1.DPIN and DSC:Apply DPIN for every proposed Designated Partners (Minimum -2). At least one Designated Partner should have a valid Digital Signature.

2. Apply for Name:Selection of business name is critical for the image of an organization. Select a name that reflects the planned business. Ensure selected name satisfy LLP Name Guidelines and file an online application.

3.Filing of LLP Registration Documents:After the consent of name LLP registration documents are filed. On study of documents filed, Registrar of LLP will register the LLP and certificate of Registration will be issued.

4. Documentation of and filing of LLP agreement and Consent of Designated Partners:With in 30 days from the date of Incorporation of LLP, partners of LLP have to execute the LLP agreement and same has to be filed with Registrar of LLP in Form 3 and the consent to act as Designated Partner/Partner has to be filed in Form

 

 
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