How to Register an LLP in India?

You can register LLP online through Legalitis. While we make LLP registration online a simple 3-step process for you, the actual registration process is elaborate and is explained below for your knowledge:

• • Step 1: Obtaining DSC And DIN

    All the forms that need to be submitted online require the directors’ DSC. So, the first step in the process is to get DSCs and DINs for 2 partners. We collect the necessary information from you and file it on your behalf.

  • Step 2: Application For Name Approval

    Simultaneously, we check if the name you want to register under is available and reserve it for your LLP. You can check for name availability in the MCA portal. The approval of the name will be made by the registrar only if the central government does not deem it undesirable. The name should not hold any resemblance to any of the existing partnership firms, LLPs, trademarks, or body corporates..

  • Step 3: LLP Agreement

    The next step is to draft the LLP agreement and other documents for registration. An LLP agreement is very crucial in a limited liability partnership as it determines the mutual rights and duties amongst the partners, and between the LLP and the partners. Thus, our experts take utmost care in drafting this agreement. The partners enter into the LLP agreement upon registering the LLP by filing Form 3 online on the MCA portal. This procedure has to be done within 30 days of the date of incorporation.

  • Step 4: LLP Incorporation Certificate

    Our team will file the necessary forms and documents with the registrar. Once the registrar approves all the forms and documents, you get your LLP incorporation certificate and are almost set for running your business.

  • Step 5: Apply for Your PAN, TAN, & Bank Account

    As soon as you get the incorporation certificate, we will apply for the PAN, TAN, and bank account for your LLP.

    The following are included in Legalitis’s LLP Registration in India package:

  • DSCs for 2 directors

  • DINs for 2 directors

  • TDrafting of MoA & AoA

  • Drafting partnership agreement

  • Registration fees and stamp duty

  • Company incorporation certificate

  • PAN and TAN registration.

  • DSCs for 2 directors

  • DINs for 2 directors

  • Drafting of MoA & AoA

  • Drafting partnership agreement

  • Registration fees and stamp duty

  • Company incorporation certificate

  • PAN and TAN registration.

  • DINs for 2 directors

We also assist with the following for LLP registration in India:

• • A first free consultation, followed by subsequent support to clear every concern you may face

  • Complete support on opening a current bank account

  • Comprehensive and on-time updates on ROC compliances

  • Online accounting software valid for one year

  • A master file that contains all the documentation needed to file the incorporation

  • You will also get a zero balance current account – powered by DBS bank.

  • A first free consultation, followed by subsequent support to clear every concern you may face

  • Complete support on opening a current bank account

  • Comprehensive and on-time updates on ROC compliances

  • Online accounting software valid for one year

  • A master file that contains all the documentation needed to file the incorporation

Time Taken for LLP Registration

• The time taken to register a limited liability partnership India depends on receiving the required paperwork and verifying that all applicable LLP Act provisions have been followed. The Registrar will register the LLP, at most 14 days after Form-2 is filed, and issue a certificate of incorporation in Form-16.

LLP Compliance

• Legalitis Company abides by the LLP Act of 2008, featuring minimal compliances compared to other businesses. Upholding transparency, governance, and stakeholder interests—ROC, Partners, Designated Partners, Investors, Tax Departments—is crucial. Compliance, categorized into one-time post-incorporation, yearly, event-based, and recurring, is vital. Here, we’ll focus on yearly and one-time LLP compliances; consult our expert startup advisors for comprehensive guidance.

• One Time Compliance

  Unlike corporations, limited liability partnerships have a simpler initial requirement: submitting the LLP Agreement to the ROC.

• Filing of the LLP Agreement

  The LLP Agreement is a vital document outlining the agreed terms among partners, serving as the LLP’s governing instrument. After signing it on Stamp paper and notarizing it, the ROC doesn’t require it during incorporation. However, submitting the LLP Agreement via e-Form 3 to the ROC within 30 days of incorporation is essential.

• Annual Compliance

  Every fiscal year, an LLP must fulfill annual compliance obligations. This includes submitting annual returns to the ROC, income tax returns to the IT Department, financial statements, and solvency statements to the ROC.

Checklist for LLP Registration Online

• Choose Partners: For an LLP, pick at least two designated partners responsible for legal compliances.

• Choose an Appropriate Name: Ensure the name you want is available and follows LLP naming rules.

• Get DSC: All designated partners need Digital Signature Certificates (DSC) for online document filing.

• Get DIN: Designated partners must acquire Director Identification Numbers (DIN) from the Ministry of Corporate Affairs (MCA).

• Submit LLP Agreement: Create an LLP agreement detailing contributions, profit sharing, etc., and file it with the ROC.

• Get PAN and TAN: Apply for PAN and TAN for the LLP.

• File FiLLiP Form: File the FiLLiP form with the ROC along with necessary documents for LLP incorporation.

• Enroll in GST: Register the LLP for GST if turnover surpasses the limit.

• Register for Other Taxes: Based on business needs, register for taxes like Professional Tax, Import Export Code, etc.

• Secure Essential Licenses: Obtain licenses like FSSAI, Trademark, etc., as needed.

• Stay Compliant: Adhere to ongoing obligations like filing annual returns, audits, etc., to meet statutory requirements.

LLP Amendment 2022

• In 2022, the Ministry of Corporate Affairs (MCA) introduced updated Limited Liability Partnership Rules, announced on February 11. These changes were effective from April 1. The updates covered naming an LLP, penalty management, appeals, and introduced forms like Form 16A and Form 33 CG. Additionally, the rules about LLP fees were also revised.

  Synopsis of LLP (Amendment) Rules, 2022

  The 2022 amendment to the Limited Liability Partnership Rules has updated Rule 5 (Fees), 18, and 19. It has also added some new rules:

• 1. Rule 19A: This rule pertains to renaming an LLP under Section 17(3).

• 2. Rule 37A: This rule involves determining penalties.

• 3. Rule 37B: This rule addresses the process of appealing against decisions made by an officer.

• 4. Rule 37C: This rule relates to the registration of appeals.

• 5. Rule 37D: This rule outlines the involvement of the Regional Director in handling appeals.

  The amendment also added some new forms:

• 6. Form 16A: This form is used when a company modifies its name due to non-compliance with the directives of the Regional Director.

• 7. Form 33: This form is utilized for initiating an appeal.

Features of Limited Liability Partnership

• Distinct Legal Entity: An LLP stands apart as a distinct legal entity from its partners, enabling it to possess assets, secure loans, initiate legal actions, or be the subject of legal actions.

• Limited Liability Shield: Partners in an LLP are liable up to their agreed contribution. Their personal assets are protected from settling the LLP’s debts

• Uninterrupted Existence: Perpetual succession in an LLP ensures its continued existence regardless of partner changes.

• Adaptable Management:LLP management can be entrusted to partners or designated managers, providing flexibility in structure.