Six Steps of Limited Liability Partnership Registration

Six Steps of Limited Liability Partnership Registration

What is a Limited Liability Partnership?

Six Steps of Limited Liability Partnership Registration

This type of business entity, Limited Liability Partnership (Limited Liability Partnership), was introduced in India in 2008 with the enactment of the Limited Liability Partnership Act, 2008. This 

hybrid firm has characteristics of both a partnership firm and a limited liability company. Here, two or more individuals invest their money in a particular business to earn a high profit. The mutual privileges and obligations of the partners are standardized by the partnership agreement.

Requirements for the formation of a Limited Liability Partnership

Requirements for the formation of a Limited Liability Partnership

Minimum of two partners, two designated partners, and office location within Indian territory. There is no specific minimum authorised share capital requirement to form an LLP.

Documents Required for LLP Registration

Documents Required for LLP Registration
  • Documents are required from Partners
  1. Aadhar Card of the partners
  2. PAN Card of the partners
  3. Photo of the partners
  4. Residential Proof
  5. Bank statement not old before two months


  • Documents for registering a Limited Liability Partnership Company
  1. Rental Agreement
  2. EB Receipt
  3. NOC

Six Simple Steps for Limited Liability Partnership Registration in India

Six Simple Steps for Limited Liability Partnership Registration in India

The Registering authority for Limited Liability Partnership is the Registrar of Companies. The procedure is explained in this article in simple six steps. 

Step 1: Name Approval

 

The primary step for Limited Liability Partnership Registration is to apply for name approval before the ROC Registration Authority by submitting the objects and the Limited Liability Partnership Name. But before that, the company name can be checked by ourselves for availability using the ROC Portal and Trademark Registration Website. 

If the name is distinct enough, the registrar of Companies shall allot the name.  RUN-Limited Liability Partnership is a simple and easy-to-use web service for reserving a name for a new Limited Liability Partnership.

 

Step 2: Obtain a Digital Signature

 

The next step to registering a Limited Liability Partnership is to get digital signatures for all partners. A digital signature is used to sign all online application forms and government regulatory processes such as ROC registration, GST return, IE code application and more. 

This digital signature is mandatory for all partners in Limited Liability Partnership.

 

Step 3: Apply for DPIN

 

Once you get the digital signature, you can apply for a Designated Partner Identification Number (DPIN) by submitting the necessary documents before the Registrar of Companies. Documents required to obtain a DIN Number are Aadhaar Card, PAN Card, Passport Size Photograph and Residence Proof. 

After verifying the same, the Registrar of Companies shall assign a unique number known as the DPIN Number.  Form DIR-3 is required to get the Designated Partner Identification Number

 

Step 4: Incorporation Certificate

 

By submitting the Form for Incorporation of  Limited Liability Partnership the Registrar of Companies shall issue the Incorporation certificate for the Limited Liability Partnership. 

 

Step 5: Submission of Limited Liability Partnership Agreement

 

This Limited Liability Partnership Agreement governs the mutual relationship, rights, responsibilities and duties of the partners. The necessary form for submitting the Limited Liability Partnership Agreement before the registrar of companies is Form 3. 

The agreement should be submitted within 30 days from the date of Incorporation of the Limited Liability Partnership. 

 

Step 6: Obtain a PAN Card 

 

The final step in the formation of a Limited Liability Partnership is to apply for an online PAN Number in the name of the Company. Once you obtain the PAN Card, you can open a Current Account in the name of the Limited Liability Partnership.

Advantages of LLP / Limited Liability Partnership Registration

Advantages of LLP / Limited Liability Partnership Registration
  • Easy to incorporate
  • No minimum share capital required
  • No limit for maximum partners
  • Protection against liability
  • Separate legal entity
  • Property can be bought in the company name
  • Can be extended after the death of partners
  • Partners may retire or resign
  • Fewer compliances

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