What is an LLP Registration? How to Register Your Company as LLP?

Limited Liability Partnership (LLP), a limited liability partnership, was launched in 2008 as a new entity incorporating the features of the Partnership organization and the features of the Limited Liability organization. It is through the growing number of LLP companies that we can see the overwhelming support for the LLP system among start-up entrepreneurs. In this article we will look in full detail under all the following LLP related topics for LLP Registration In India. 

  • Features of LLP Record
  • The process of registering as an LLP
  • Documents Required for LLP Registration
  • The cost to register an LLP is
  • Duration taken to register LLP

Features of LLP Record

  • The liability of the partners in the company is only the amount commensurate with the investment they have made.
  • There is no minimum investment amount to register your company under this scheme.
  • Unlimited maximum number of partners can be added
  • The initial cost of setting up an LLP business is low.

A minimum of two persons and a maximum of as many persons can be admitted as partners to identify their firm as an LLP. It is very important that at least two persons are Desiconnected partners and at least one should be an Indian. The LLP Agreement governs the obligations and rights of the Desiganate Partner. LLP Act 2008 The desicaneted partners shall be the persons who can undertake all the responsibilities mentioned therein. Register under the Limited Liability Partnership Act 2008 if you want to start a limited liability partnership company.

The process of registering as an LLP

  • 1) Obtaining DSC
  • 2) Obtaining TIN
  • 3) Selection of company name
  • 4) Obtaining LLP Institutional Recognition
  • 5) Prepare LLP Partners Agreement

1) Obtaining DSC

The first step in the LLP registration process is to purchase a Digital Signature Certificate called a DSC for persons who are to become a DesiConnected Partner of your LLP company. This DSC application means that you have to apply through online applications in various places where you have to register to start LLP. Digital Signature Certificate – TSC carries all the authority equivalent to your written signatures so should be handled with care wherever it is used. All DesiConnected partners apply for DSC from organizations authorized to issue digital signature certificates.

  • National Information Center (NIC)
  • IDRPD Certification Authority
  • SafeScript CA Services, Cify Communications Ltd
  • (N) Code Solutions CA.
  • E-Mudra
  • CDAC
  • NSDL
  • Capricorn
  • Bandacin
  • iDesign

Each type of fee is charged by each company as the various companies mentioned above have been appointed to issue the Digital Signature Certificate. So it is a good idea to contact the company from which you are going to get DSC and find out the details of the fee. Your DSC will be ready within three to seven days of submitting the Digital Signature Certificate application. The Class 2 and Class 3 types of digital signature certificate are required if you want to apply for your Enterprise Certificate on the MCA site. Since the DSC certificate is only valid for one or two years, renewing the DSC before the expiry of the validity period will help to avoid various stage problems.

2) Obtaining TIN

A Director Identification Number (TIN) is required for all those who have been designated as a Desikanedite Partner or who wish to become a Desikanetide Partner. Before filing application form TIR-3 for allotment of TIN you need to have some documents. If you want to get a DIN then you should keep all the documents ready.

  • Gender and date of birth and national citizenship details
  • Permanent Account Number (PAN)
  • Voter ID card
  • If you are a foreigner, you must have a passport
  • Driving license
  • Aadhaar card
  • A personal email address and phone number
  • Permanent address
  • D.S.C

The application forms you apply for must have the signatures of the CEO of the company and the CEO of the beauty company. The SRN number generated upon successful submission of DIR Application Form No. 3 can be used for MCA site operations.

3) Selection of company name

If you want your company to be registered as an LLP, you must choose a name that no one else can use to run your businesses. You can find out what kind of new names you can choose for your company by researching the names of companies that may already be on the MCA website. After selecting a unique name that has not been fully explored and used by anyone, the LLP – RUN Limited Limited Liability Partnership – Reserve Unique Name must be registered with the Non-STP Central Registration Center.

If the name you choose is similar to the names of any other company, your application for registration will be completely rejected. If your name registration application is rejected then you can apply again only after next 15 days. It is not necessary for you to select only one name so you can apply by suggesting another alternate name as well.

4) Obtaining LLP Institutional Recognition

The form used to obtain LLP corporate accreditation should be submitted to the office of the Correspondent of the corporation where your business is located. You will have to pay a fee for submission of Link Form A. Through this attachment form there is also the facility to obtain a DBIN if the person responsible for being your company’s disconnected partner does not have a DIN.

5) Prepare LLP Partners Agreement

The LLP partners agreement should define the information about the distribution of powers between the partners and the mutual rights and obligations of the partners. You have to file your LLP agreement documents through Form III on the MCA website. You must submit this Form 3 within 30 days of preparing the LLP Agreement. Your LLP agreement should only be on a stamp paper approved by the state government.

Documents Required for LLP Registration

1.     Documents of partners

A PAN card is required as the primary identity card for all those joining as partners in an LLP firm.

Permanent Address Identity Card with no typographical errors like name and date of birth on PAN card is a must.

Submit any of the electricity bill, telephone bill, gas bill, etc. confirming the location of the partners. The duration of such receipt forms should be within the last three months.

Passport photographs taken on white background are required.

Any person residing in a foreign country who wants to participate in an LLP institute in India should submit his/her passport details and address certificates of our existing country.

2) LLP company documents

Certificate of location is required for the office where your LLP company is to be started. If the place where your company is to be started is rental space then you need to get a lease agreement and an agreement from the landlord that you have no objection to starting the company.

As we said earlier most of the document filing is done online so Digital Signature Certificate and Director Identification Number is mandatory.

The cost to register an LLP is

Below is an approximate amount that can be spent at each step for LLP registration.

  • 1500 to get D.Sc
  • 1000 to get TIN
  • 200 for company name registration
  • Incorporation registration requires Rs 500 if your company’s investment is between Rs 1 lakh and Rs 2000 if it is between Rs 1 lakh and Rs 5 lakh.
  • The stamp duty that the partners can contract is subject to the control of the State Government.
  • 50 for Form-3 to join as a partner in one lakh rupees

Duration taken to register LLP

All kinds of registration can be completed within 15 days if you have all the documents right.