LLP Registration is gaining a lot of weightage because of lesser compliances and giving the businessmen liberty to do business in partnership firms. There has been big spike in the number of LLP Registrations in India in recent time as it gives exemption to statutory audit subject to capital contribution up to 25 Lacs and Turnover up to 40 Lakhs. Connect with us to know how CCL can help you register your LLP easily and help in its timely compliance anywhere in India.
LLP Registration has been simplified by Central Registration Center (CRC) which works under the aegis of the Ministry of Corporate Affairs (MCA). To begin with, we need to acquire your Digital Signature Certificates and register the same on the MCA portal. Thereafter, we can file incorporation documents to MCA with the desired name and object with all the required details and documentation. Once approved, you get Certificate of Incorporation for your LLP.
Like Companies, LLPs do not have MOA & AOA and instead (as LLP is in the form of limited liability partnership firms), an LLP Agreement is executed post LLP Incorporation Certificate is received and for this the stamp paper has to be bought from the same state where the LLP is getting registered. The amount of stamp paper to be bought shall be based on the capital contribution by partners of LLP. We at Compliance Calendar can help you register your LLP hassle free as we have registered LLPs across India.
NOT SURE IF REGISTERING AN LLP IS IDEAL FORM FOR YOUR BUSINESS ENTITY?
At first instance, it may seem overwhelming to have lots of questions unanswered and being dubious to decide whether to go for LLP or to choose Private Limited Registration for your business. Which one would be ideal considering your industry type and business model? The CCL Business Registration Advisors have years of experiences in handling Compliance Calendar of hundreds of LLPs and Companies and hence we can become your one stop destination for your LLP Registration or Even Private Limited Registration as well as its annual compliance under MCA, GST and Income Tax to begin with. As your business grows up, we can help you in all other compliances which may get triggered on with the passage of time.
Documents Required for LLP Registration
To register your start-up as LLP, there are certain set of documents required to begin with the registration procedure of LLP under the regime of Central Registration Centre (CRC) under the aegis of MCA. LLPs are registered under the LLP Act, 2008 and regulated by the Ministry of Corporate Affairs (MCA) with its extended hand called Registrar of Companies of the respective states where the LLP will have its registered office address.
You will be glad to know that most of the documents which are filed with the Department are drafted by us for your convenience. List of documents required from your end:
Identity Proof is required for all the partners/ designated partners. Identity Proof will be PAN Card copy in case of Indian Nationals and apostilled/ notarized copy of Passport for Foreign Nationals. All Documents must also be self-attested.
Two Address Proofs are required for partners/ designated partners. First is Driving License/ Passport/ Voter ID while Second can be Bank Statement/ Electricity Bill/ Mobile Bill/ Telephone Bill.
Mobile Number and E-mail ID are required for all the partners/designated partners and the same shall belong to the partners/ designated partners only and not of any professional or closed relatives too. Further, one email address of LLP is also required.
- Educational Qualification
Educational Qualification of the proposed designated partners is to be provided. It is not required to provide the proof for the educational qualification. The CRC (MCA) does not ask for proof of educational qualification copies.
A recent copy of the Electricity bill/ Gas bill/ Mobile/ Telephone bill is required. A rental agreement or lease/sale deed along with NOC from the landlord with his/her consent to use the office as a registered office is also required.
- Draft Documents for FiLLiP +
Finally, based on the above documents provided we prepare the drafts documents as per the LLP Act, 2008 and their applicable laws which are required to be submitted to CRC (MCA). At CCL, we make the LLP Registration very simple and smooth with our experience. You are not required to visit any place and we complete the LLP Registration procedure at the comfort of your home as the process is completely online.
Note: In addition to the above documents, you need to share with us the desirable LLP name and we will check its availability for its registration. Scope of the LLP, capital contribution, place of business, profit sharing ratio are some of the basic information we do require from your end. We will send a simple checklist for your easy sharing of documents and information.
Procedure for Online LLP Registration in India
MCA has introduced the new procedure for LLP Registration under which a new form has been introduced for LLP Incorporation called FiLLiP (Form for Incorporation of Limited Liability Partnership) which shall be filed with the CRC of MCA which has a jurisdiction across India. Earlier every state used to register LLPs in their jurisdiction.
FiLLiP includes-
- Application for allotment of DPIN;
- Name Reservation of LLP; and
- Filing of other required documents.
Book a free consultation with Compliance Calendar LLP today and do not let your dreams of becoming an entrepreneur take halt in the way to success. We are ranked as India’s Most Trusted Compliance Platform for Compliance Calendar as well.
Benefits of LLP Registration in India
LLP has many features and benefits which makes it ever rising forms of business especially in the service sectors. Since 2008, when the concept of LLP was introduced in India, we have seen big corporates are going towards LLP. SMEs find LLP very much suitable for their business as they save money in compliance cost as well.
Limited Liability
One of the best features of LLP registration is that the liability of the person who invests money into the business (also known as partners) will be limited to the amount invested by them which also means that personal property of the partners will remain safe and secure. This feature is not available in normal partnership firms. This limited liability builds confidence of young entrepreneurs to fulfil their dream of having their own Business entities registered with the Ministry of Corporate Affairs.
Separate Legal Entity
The separate legal entity feature gives LLP the space to keep yourself and the LLP at length recognizing both as separate identity. In the eyes of law, LLP and its Representatives are different personalities and LLP can sue and be sued on its own name without the name of its partners/ designated partners.
Perpetual Succession
LLP continues to exist until it is formally closed down either by the Partners or the ROC. This is what makes the registered LLP different from partnership firms where on the death of partners, the partnership firm ceases to exist but in case of registered LLP, even the death of all partners/ designated partners cannot stop the LLP to exist.
Easy exit and transferability
During the lifetime of any LLP, if all or any of the partners wish to exit from the LLP, they can do so by simply transferring their contributions. It is very easy to change management too. This gives partners the freedom to take informed decision whether to continue or not at any given point of time.
Owning Property
LLP being a legal person can own property on its own name through its Legal Representative. The Property includes Intellectual Property (IPR) such as Trademark, Copyright, Patent and Design too. LLP can also mortgage property the same way as a natural person to banks or any other financial institution.
Borrowing Capacity
LLP being a Legal Person, when there comes a requirement to borrow capital or funds, it can be done through various modes of borrowing. Some of them could be Private Borrowing/ Angel Investor/ Venture Capitalist/ Short-term capital from Partners or their Relatives and Debts through Banks or FIIs.
Investment Ready
Any Investor who is looking to make investment generally prefers LLP than any other business structure. This is what makes an LLP investment ready. LLP can also get itself registered under DPIIT (Earlier DIPP) Scheme of Start-up India under Ministry of Commerce & Industry, Govt. of India to enjoy numerous benefits which the Indian Govt comes up time to time.
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