Register Your LLP Online in India – Fast & Hassle-Free Service Considering starting a business with a friend or in a compatible partnership? Regardless of the nature of your business, you are likely seeking flexibility, anonymity, and simplicity in your legal structure. Is that you? An LLP Registration may be your perfect solution.
What Is An LLP And Why Does It Matter To You? An LLP is the best of both worlds - it combines the operational simplicity of a normal partnership with the legal protections and liabilities found in a private limited company. Best of all, you are only liable for your portion of the business and the amount you invest. Therefore, if your partner makes a mistake, your personal property (house or savings) is not at risk. This separation of liability in terms of personal and business responsibility is precisely why LLPs have gained popularity among small businesses, freelancers, consultants, accounting firms, legal practices, and many other sectors.
Why choose LLP over other business structures? Imagine you and a friend are starting a small consultancy. You do not need to raise venture capital and do not want to deal with the red tape that can come with running a corporation. A limited liability partnership (or LLP) can be an excellent choice.
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What do you get? Limited Liability - your assets are protected Fewer Formalities - compared to private limited companies No Minimum Capital - you can start with little or no money Separate Legal Entity - your LLP can own property, sue people, and be sued No tax on dividend income - income earned by an LLP passes to the partners and is taxed individually So if you are not trying to build the next unicorn but want a legitimate, flexible business structure, LLP is hard to beat.
Who can register an LLP? Anyone can form an LLP, be it a perso, corporation, or a combination of both. However, the following are the minimum requirements to register an LLP: ● At least two (2) partners (and no limit of partners) ● At least one partner must be a resident of India.
● All partners must have a Digital Signature Certificate (DSC) ● All partners must have a Director Identification Number (DIN)
Documents Required for LLP Registration It may sound bureaucratic and government-focused, but the good news is that the paperwork is not too difficult, especially if you enlist the help of an expert service such as Kanakkupillai to take care of it for you! For each partner Mandatory Documents ● ● ● ● ●
PAN Card Aadhar Card / Passport / Voter ID / Driving License Proof of address (utility or bank statement, <= 2 months old) Passport-size photo Email ID and mobile number
For LLP: ● Proposed name of your LLP ● Proof of registered office (utility bill + NOC in rented premises) ● LLP Agreement (to outline duties, share of capital, and responsibility)
Step-by-Step Process for LLP Registration Here is a glimpse of the LLP registration process broken down into steps: Step 1 - Obtain a Digital Signature Certificate (DSC) Each partner must obtain a DSC. DSC is an online signature used for filing forms. You will typically receive the DSC within 1–2 working days. Step 2 - Apply for DIN (Director Identification Number) DIN means Director Identification Number which is a unique ID for all persons running LLP or companies. Application shall be made online on the MoCA (Ministry of Corporate Affairs) portal. Step 3 - Reserve the Name of your LLP You will be using the RUN-LLP form on the MCA site. You must have an amazing name that is not identical to any name registered in that form. Also, must adhere to naming principles. Pro tip: You can use "LLP" concluding the name (i., BrightTech Solutions LLP) 4. File Incorporation Documents (FiLLiP)
In this form, we will need some partner details, business address, capital contributions, and supporting documents. Once it is approved you will receive the Certificate of Incorporation which signifies that your LLP is established and operational! 5. Draft and File the LLP Agreement The LLP agreement defines the roles of the partners. It will describe how profits/losses will be shared, the duties/responsibilities of the partners, how decisions will be made, and exit/departure terms. You must file your LLP agreement with the Ministry of Corporate Affairs (MCA) within thirty days of incorporation, or penalty fees will apply. LLP Ongoing Compliance Although the compliance of an LLP is less than a private limited company, it is still necessary to keep up with a few basic obligations.
Is LLP Appropriate for You? We would recommend the LLP model for a small business, start-ups that do not have scale or heavy funding, or professional service providers providing a commodity service with no need for large investments. The LLP allows you the benefits of a structure without complexities. You do not require a meaningful capital investment or a team of lawyers, and you get the peace of mind that your assets are protected.
Do You Need Help with the Registration of an LLP? Registering an LLP is quite simple, but making sure that it is done correctly is important. If you don’t have much time to spare or avoid the paperwork minefield, Kanakkupillai can provide you with 100% online LLP Registration and professional assistance at every step of the way. They will take care of the process for you from getting name approval to filing the LLP agreement, leaving you free to grow your business.
