LLP Registration- Requirements and Procedure

LLP registration provides number of benefits and perfectly fits in the requirements of people who wants to pool up their expertise and knowledge. 

We are pleased to inform that JR Compliance is an award winning compliance service provider with an experience of over 8 years provides finest LLP registration assistance to our clients. 

What is LLP Registration?

In India, Limited Liability Partnership (LLP) was established under the Limited Liability Partnership Act 2008 (which came into effect on 31st March 2009). An LLP is a type of partnership in which all or some partners have limited liabilities depending on the jurisdiction. Thus, it comprises the features of a corporation and partnership firm.

Consequently, LLP registration is the process of registering an LLP firm by fulfilling certain obligations. 

Moreover, LLP is unassociated with the limited partnership, yet, it carries out its operation like a limited partnership. But in an LLP company, the liability of each partner is limited (members/partners are liable to pay the debt of the company only to the extent of their capital contribution). 

Can a foreigner incorporate LLP? 

Under LLP Act 2008, foreign nationals which include Foreign Companies can incorporate LLP in India. However, for this, one partner should be a resident of India.

Get Free Expert Consultation!

Your Name*
Phone*
Your Message
Please fill all the required fields!
Please accept terms and conditions to proceed

Benefits of LLP Incorporation

It provides pliability without imposing comprehensive legal and procedural requirements.

The existence of the company is not affected by the bankruptcy, death, etc of a partner.

Flexible transfer of ownership without any procedural delay.

LLP having capital below 25 lakh and annual turnover below 40 lakhs need not maintain a formal audit.

LLP being a juristic person has the authority to own and acquire the property.

It is organized and managed by the agreement.

Provides professional or technical expertise to the company.

LLP registration

Characteristics of LLP Company

As a company, LLP is a separate legal entity. That means it has rights similar to a person. Thus, it can sue, be sued, own property, etc.

To commence an LLP, you need at least 2 members, while there is no restriction on the maximum number of members.

There is no restriction on the minimum amount required for LLP incorporation

It continues to operate regardless of a change in its partners. 

The mutual rights and duties of partners are controlled by agreement between partners or agreement between partners and LLP.

No partner in an LLP is answerable to the unaccredited or independent actions of the other partners.

Checklist For LLP Registration

For LLP incorporation, you at least need 2 partners. Though, there is no restriction on the number of maximum partners.

Every partner should agree to the contribution towards the capital requirement.

In the case of Foreign Nationals and NRI, one designated partner should be a resident of India.

For LLP incorporation there is no restriction on the capital contribution.

Every partner should have a Designated Partner Identification Number (DPIN).

All the Designated Partners should obtain DSC.

You need the address proof of the LLP office, either rented or owned.

Checklist For LLP Registration

Documents Required For LLP Incorporation

For identity proof, you need to submit a photocopy of the Voter’s ID card, Driving license, etc.

Photocopy of electricity bill, telephone bill, latest bank statement, etc.

You are required to submit the No-Objection Certificate (NOC) from the property owner.

If your business is operating at a rented place, you need to submit a photocopy of the rental agreement.

In case you own the property, you need to submit the sale or property deed.

Foreign nationals and NRIs need to submit a replica of a PAN card and passport.

Systematic Registration Process For LLP Incorporation

To commence an LLP registration process, the Digital Signature Certificate (DSC) and Director Identification Number (DIN) needs to be obtained.

An application in Form 1 will be filled to choose the appropriate name of the establishment.

After selecting name which is appropriate and meets all the standards, the incorporation Form 2 (including required information and affixing documents) will be filled.

Lastly, certificate of incorporation will be obtained after complying with all the requirements. 

Note- Within 30 days of LLP incorporation of LLP, file an LLP agreement.

JR Compliance strive to provide you high standard compliance services as our experts are committed to provide you complete assistance to complete the LLP registration without any hassle. For this, we have up-to-date knowledge regarding the same which helps us in making the registration process smooth. It saves your time and money. 

Our Role in LLP Registration 

We will assist you in the process of documentation, and evaluation.

Our team will assist you in opening a Current Bank Account for an LLP firm.

We will assist you in choosing the right name of your LLP company by doing proper research to avoid further inconvenience.

Our team will ensure a smooth procedure as we will be available whenever required.

We will directly coordinate with LLP officials to prevent errors as well as for proper follow-ups.

We will provide the finest solution to all your queries concerning LLP incorporation process.

A man assisting a woman in LLP registration

Conclusion

JR Compliance has assisted reputed brands in the successful registration of their brands for different certificates. Our services are not limited to India only but our services are far-reaching to different parts of the globe. 

We ensure to provide you with our complete assistance in the process of LLP registration. Also, we guarantee to avoid every inaccuracy which can be an obstacle in LLP incorporation. For this, we have highly professional and experienced LLP experts who will provide you promptitude assistance by keeping your concern in mind.  

We understand the importance of procuring a certificate for a firm and for appropriate help contact us immediately.

Have questions? We've got answers.

1. How is LLP different from a private limited company?

In an LLP, there is no clear distinction between its owner and management. While the ownership of the private limited company is determined on the basis of its shareholding.

2. Is it mandatory to register an LLP?

Indeed, registration of an LLP is mandatory.

3. Can an individual form an LLP?

No, one person can not form an LLP because it requires a minimum of two members to commence an LLP firm.

4. Is GST required for LLP?

Yes, GST is required for an LLP.

5. Is audit compulsory for LLP?

As per Rule 24 of LLP, Rules 2009, accounts of LLP must be audited. 

6. Whether an annual return an LLP has to file?

An LLP must file the annual return in Form 11 from ROC within 60 days closer to the financial year. 

7. Which document will be available for public inspection in the office of the registrar?

Below-mentioned are the documents that must be available for public inspection, 

  • Incorporation documents
  • Annual return
  • Statement of account and solvency
  • Partners’ name and change, if any
8. Does an LLP have directors?

Unlike a company, an LLP does not have directors.

9. Who control or owns the LLP?

LLP is controlled and owned by its members.

10. Can I register LLP online?

Yes, an LLP can be registered online.

Disclaimer:

All to whom it may concern, JR Compliance is not liable for any direct, indirect, incidental, special, or consequential damages from the use of any information contained on our website, or from any action/ decision taken as a result of using the site.

The information provided on this website is with the sole intention to give information, not a professional opinion. Moreover, our website might include copyrighted material that may or may not have been specifically authorized by the owner, however, used for the purpose of providing information. That constitutes a “fair means” under Section 52 of the Copyright Act, 1957.

Customer Support: 1800121410410
Phone:

+91 1143022315

Email:

info@jrcompliance.com

support@jrcompliance.com

Address:

K8, Sector 3, Bawana Industrial Area, Delhi - 110034 (India)

Intellectual Property -  Unless otherwise stipulated, this site is our proprietary intellectual property. All the graphics, media, editorial content, and website design (altogether, “content”) used are the intellectual property of JR Compliance which are protected by Trademark, Copyright, and other applicable intellectual property laws. 

Any content or mark might be copied, reproduced, republished, and displayed publicly for any profit-oriented purpose whatsoever, require our prior written permission, otherwise, an offender may have to face legal consequences. 

Get Your Free Consultation!

Ask any questions you have. Our Experts would love to help you.

Full Name*
Phone no.*
Your message*
Please fill all the required fields!
Please accept terms and conditions to proceed
Please wait