Looking for help with LLP registration process in India? If your answer is affirmative, you’re at the right place. In this article, you will read everything about the process of LLP registration online in India.

A limited liability partnership (LLP) can be defined as a separate legal entity and partnership under the Limited Liability Partnership Act, 2008, in which the organization is liable to the full extent of its assets but the liability of the partners is limited to their agreed contribution as per as the partnership agreement.

What Are The Advantages Of Registering A Business As An LLP?

• No requirement for compulsory audit. However, LLPs are required to audit their accounts if the contributions exceed Rs. 25 lakhs and/or the annual turnover exceeds Rs. 40 lakhs.
• No dividend distribution tax payable under Section 40 (b) of the Limited Liability Partnership Act, 2008.
• A limited liability partnership can be started with any amount of minimum working capital.
• Lower cost of LLP registration as compared to a Company registration.

Apply for DSC And DIN

The first step is all about obtaining a Digital Signature Certificate (DSC) of all the partners. The reason for this is that all legal and statutory forms are required to be submitted online and require the digital signatures of the directors. The Limited Liability Partnership Act, 2008 also requires that all directors apply for a Director Identification Number (DIN) in Form DIR-3.

Get Name approved

Once the DSC and DIN are received, the next step is to register the LLP. For this, it is important to first check the availability of a name that has not been taken already by anyone else. A quick search on the Indian Ministry of Corporate Affairs (MCA) portal will be required for this. The Registrar will only approve the name if the Central Government doesn’t deem the proposed LLP name undesirable. The proposed LLP name should not hold any resemblance to any existing LLP, trademarks, corporate bodies, or partnership firms.

LLP Agreement

LLP Agreement is essential in a limited liability partnership as it regulates the mutual rights and responsibilities among the partners. An LLP agreement is entered between the partners after LLP registration by making an application under Form 3 available on the MCA portal. This aspect of the LLP registration process has to be completed within 30 days of the LLP’s date of incorporation.

LLP Incorporation Certificate

Once the Registrar approves LLP’s Memorandum of Association (MOA) and Articles of Association (AOA), you are only a few steps away from LLP registration online. The next step will be to get the LLP Incorporation Certificate. For this, you are required to submit all the required documents to the Registrar within 12 days. You’ll be ready to go after receiving the LLP Incorporation Certificate.

Apply For PAN & TAN & Bank Account

You need to make an application for the Permanent Account Number (PAN) and Tax Collection Account Number (TAN) with the National Securities Depository Limited (NSDL) and open a bank account for the LLP after receiving the LLP Incorporation Certificate.

Need help with LLP registration process? Contact Legalo, one of the most trusted financial & legal service providers in India. We are committed to providing hassle-free and cost-effective solutions to individuals and organizations across the country.