LLP stands for Limited Liability Partnership. It offers the benefits of a partnership with that of a limited liability company. It’s like overnight fame for LLPs. This concept instantly became popular in India after January 2009. Startups and professional services providers specifically liked it for its limited liability & easy maintenance of the business.
Tailormade is one-point digital support for company registration and its documentation. We are a group of respected and trusted professionals, including CA, CS, and respectable lawyers. Our understanding of legal matters and compliance is unprecedented. We are advanced and offer online support, ensuring complete guidance on how to register LLP in India and across the world.
Partners are only liable to incur a small amount of debt. On the flip side, the partnership does not protect the personal assets of directors & partners if the business goes bankrupt.
The LLP continues even if the partners might leave. The business stays up and running. For dissolving, all partners should be mutually agreed.
The ownership of LLP is easily transferrable. One can easily be designated as a partner and also, attain its ownership.
The LLPs having capital less than INR 25 lakhs and turnover below INR 40 lakhs per year need not conduct any formal audits.
Minimal Requirements to be Fulfilled
Minimum Two Partner of LLP
Register your Limited Liability Partnership (LLP) with at least two persons as a partner in the new LLP. You may maximize the list of partners later, as it does not have any limit.
One Resident Designated Partner
Any of the partners of the LLP should be a resident in India. The resident is the one who stays in India for over 120 days during the previous financial year.
Registered Address Proof
Submit the proof of registered address of the LLP. We require it. Also enclose a utility bill, which is not older than 60 days, and an NOC from the owner of the registered address owner.
Capital Requirement
The LLP Act, 2008 does not set any minimum or maximum capital limit. Therefore, you may keep the capital/contribution of the LLP corresponding to the business requirement.
New & Unique Name of LLP
Find a new & unique name of LLP. Ensure that the proposed name of the LLP is not the same or similar to an already existing LLP, company, or trademark. We also guide this selection.
Standard Process for Registration of LLP Company Registration
Select Name for LLP
Select a unique name and cross-check it with the ROC to avoid duplicity with another trademarked name.
Making of Partners DSC:
DSC is a digital signature, which is required to be done by all partners of the LLP. All applications to ROC require it.
Name Approval for Registration
We fill-up the form RUN-LLP to apply online for the name approval of LLP. You may file two preferences with their significance.
ROC Filing for LLP Incorporation
Upon name approval, the LLP registration is filed via the FILLIP form. It requires KYC of partners with valid proofs of registered address is to be done. It should be attested by a practicing Chartered Accountant, Company Secretary, Cost Accountant, or an Advocate practicing at the High Court.
Issue of the Certificate of Incorporation of LLP
Its final stage is the Certificate of Incorporation for the LLP. Once done, it becomes a conclusive proof of the LLP registration by the Registrar of Company (ROC).
Drafting LLP Agreement & Filing to ROC
A valid agreement is prepared on the stamp paper of the appropriate value. It consists of the mutual rights and responsibilities of partners, which are later attested by the notary public. Then, it is filed with ROC in Form-3 within a month of the LLP incorporation.
PAN Card & TAN Number
The prescribed form 49A is to be filled and applied with the Income Tax department for the PAN card. TAN number is a permanent business number to comply with withholding tax provisions (TDS) & submit TDS returns.
Documents to Enclose for a Startup
Checklist of Documents
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Promoter Documents
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Registered Office Documents
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- Passport Size Colour Photograph
- Self attested Pan Card
- Self attested Aadhar Card
- Address Proof: (any one document)
- Telephone Bill
- Gas Bill,
- Electricity Bill
- Bank Statement
- Identity Proof: (any one document)
- Passport
- Voter ID
- Driving License
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- Proof of Premises
- Telephone
- Electricity
- Water Bill
- No Objection Certificate
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Legal Documents
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- Consent of Partners in Form 9
- Subscriber Sheet for LLP Incorporation
- PAN Card Application Form
- TAN Card Application Form
- Questionnaire For LLP Registration
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