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LLP Registration Online

Register your LLP online to avail double benefits of a Partnership & a Company.

LLP Registration Services In India | Easy Process and Documentation

Register LLP online at lowest price with India’s leading platform . At Laudable Legal Solutions we provide quick and affordable service to register a LLP in India through 100% online process. Our services are trusted by thousands of entrepreneurs in all major cities of India.

What is LLP Registration?

A Limited Liability Partnership (LLP) is a form of corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership.The LLP can continue its existence irrespective of changes in partners. It is capable of entering into contracts and holding property in its own name.

The LLP is a separate legal entity, is liable to the full extent of its assets but liability of the partners is limited to their agreed contribution in the LLP.Further, no partner is liable on account of the independent or un-authorized actions of other partners, thus individual partners are shielded from joint liability created by another partner’s wrongful business decisions or misconduct.

 


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Advantages of LLP Registration


 

  • Convenient: It is easy to start and manage a business like entrepreneurs. LLP agreements are customized in according to meet the needs of partners concerned. There is fewer formalities in areas of legal compilation, annual meeting, resolution as compared to any other Private Limited Company. For a detailed comparison between LLP and Private Limited read Choosing between LLP and Private Limited.
  • Perpetual Existence: The subsistence of LLP does not depend on its partners. The partners of the LLP can change from time to time, but that will not affect the existence, continuity, or operations of the LLP. In the case of a Partnership firm, the resignation or death of any partner would have huge consequences and the Partnership would have to be reconstituted.
  • Separate Legal Entity: It means that in the eyes of law, LLP is separate from its partners just like a company is separate from its shareholders. The LLP is distinct from its partners. An LLP can sue and be sued in its own name.
  • Limited Liability: The liability of the partners is limited to the contributions made by them and they are not personally liable for any loss in the business. This means that if an LLP becomes insolvent, at the time of winding up, only the LLP assets are liable for clearing its debts and the personal assets of the partners cannot be attached.
  • Lower Cost of Registration and Compliance : The cost of forming an LLP and the cost of compliances is low compared to the cost for a public or private limited company. The LLP needs to file only 2 statements annually, i.e., Annual Return (Form 11; the due date is 30th May) and a Statement of Accounts and Solvency (Form 8; the due date is 30th October).
  • No Requirement of Compulsory Audit : LLPs are not mandatorily required to do statutory audit of the accounts. Any other company (Public, Private) are mandated to get their accounts audited by the auditing firm. LLP is required to audit their account in the following situation :   A) When the contributions of the LLP exceeds Rs. 25 Lakhs, or

    B) When annual turnover of the LLP exceeds Rs. 40 Lakhs

Disadvantages of LLP Registration


  • Limited Funding Alternatives: LLPs have limited alternatives when it comes to raising funds. LLPs can either borrow debt from financial institutions or via a loan from partners. Venture Capitalists (VCs), Angel Investors and Private Equity (PE) firms would be unwilling to invest in an LLP structure. Also, Foreign Direct Investment (FDI) in LLP is more restrictive as compared to companies. Neither an LLP can issue Employee Stock Options (ESOP).
  • Non-Compliance is Expensive: Although the compliance requirements for an LLP would be minimal, it is essential to adhere to them, else it can lead to heavy penalties. Even if an LLP does not have any activity, Form 8 and Form 11 are required to be filed annually. In case of non-compliance, an additional fee of INR 100 per day, per form is applicable. There is no cap on the additional fee, and it could run into lakhs if an LLP has not filed them for a few years. Also, the LLP and its DPs would be liable for a fine that can extend up to INR 5 Lakhs!

Documents Required



Passport Photo
Copy of PAN Card
Copy of Electricity Bill
Sale Deed (if owned)
Copy of Aadhar Card
Address Proof of Director/Partner (Bank Statement / Mobile / Telephone Bill)
Copy of Rent Agreement
No Objection Certificate

Minimum Requirement for Limited Liability Partnership


 

  • The number of Partners must be at least 2.
  • There must be at least two Designated Partners.
  • Each Designated Partner must have a Designated Partner Identification Number (DPIN)
  • PAN card copy of Designated Partner/Partner.
  • There is no minimum capital requirement

Process For Incorporation Of Limited Liability Partnership

 

Obtain Digital Signature Certificate (DSC)*

1
Filing of RUN (Reserve Unique Name) application

2
Filing of FiLLiP (Form for incorporation of LLP) application

3
Filing of Form 3

4
PAN and TAN Application.

5

Choose Package

Basic Plan

₹ 4,499

  • LLP name approval
  • LLP Incorporation Certificate
  • PAN
  • TAN
  • MCA processing
  • FiLLiP
  • LLP agreement
  • Form-3
  • Current account opening
  • Allotment of 2 DPIN and
  • GST registration

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Standard

₹ 10,999

  • LLP name approval
  • LLP Incorporation Certificate
  • LLPIN
  • PAN
  • TAN
  • MCA processing
  • FILIP
  • LLP agreement
  • Form-3
  • Current account opening
  • Allotment of 2 DPIN
  • GST registration
  • Income tax return filing
  • Form 11 (Annual return of LLP)
  • Form 8 (Statement of Accounts)
  • DIR-3 eKYC of Directors

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Premium

₹ 19,999

  • LLP name approval
  • LLP Incorporation Certificate
  • LLPIN
  • PAN
  • TAN
  • MCA processing
  • FILIP
  • LLP agreement
  • Form-3
  • Current account opening
  • Allotment of 2 DPIN
  • GST registration
  • Income tax return filing
  • Form 11 (Annual return of LLP)
  • Form 8 (Statement of Accounts)
  • 12 months filing of GST return and
  • DIR-3 eKYC of Directors

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Workflow at Laudable Legal

Step 1
Want to incorporate a LLP.
Step 2
Login to our online portal through the link given above.
Step 3
Fill the form and upload the required documents.
Step 4
Sign the draft documents as provided by incorporation expert to be uploaded on ROC portal.
Step 5
Sit back and relax.
Step 6
Congratulations! your LLP incorporated.

Comparison


 

Particulars Private Limited Company LLP One Person Company
Ideal For Businesses having high turnover and enterpreneur who need external source of funding Service oriented business that have low investment needs Proprietor looking to limit liability and wants 100% control over the business
Minimum Share Capital No requirement for minimum share capital No requirement for minimum share capital No requirement for minimum share capital. If capital exceeds 50 lakhs, OPC gets converted to Pvt. Ltd.
Members Required Minimum 2 Minimum 2 Minimum 1
Maximum 200 Maximum No limit Minimum 1
Directors Required Minimum 2 Two designated partners Minimum 1
Maximum 15 Maximum not applicable Minimum 15
Statutory Audit Compulsory Not compulsory unless partner’s contribution exceeds 25 lakhs or annual turnover exceeds 40 lakhs Compulsory
Liability of Partners/Directors Limited Limited Limited
Foreign Direct Investment Eligible via automatic route Eligible via automatic route Not eligible for FDI
Income Tax Rate 22% 30% 22%
Statutory Compliance More Less Moderate
GST Registration In case of service if turnover exceeds 20 lacs Same Same

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FAQ

 

  How many partners are required to register LLP?
There should be at least 2 people required as partners or designated partners in the Limited Liability Partnership.
  What are minimum and maximum number of partners in an LLP?
A minimum of two partners will be required for formation of an LLP. However there is no limit to the maximum number of partners.
  Whether a body corporate may be a partner of an LLP?
Yes, a body corporate can become a partner of an LLP.
  Who can be a “Designated Partner”?
Every LLP shall be required to have atleast two Designated Partners who shall be individuals and at least one of the Designated Partner shall be a resident of India. In case of a LLP in which all the partners are bodies corporate or in which one or more partners are individuals and bodies corporate, at least two individuals who are partners of such LLP or nominees of such bodies corporate shall act as designated partners.
  What will be the obligation of a partner in case he changes his name or address?
Y Every partner shall inform the LLP of any change in his name or address within a period of fifteen days of such change. The LLP, in turn, would be under obligation to file such details with the Registrar within thirty days of such change in Form 4.
  Whether LLP Agreement would be mandatory for all LLPs?
As per provisions of the LLP Act, in the absence of agreement as to any matter, the mutual rights and liabilities shall be as provided for under Schedule I to the Act. Therefore, in case any LLP proposes to exclude provisions/requirements of Schedule I to the Act, it would have to enter into an LLP Agreement, specifically excluding applicability of any or all paragraphs of Schedule I.
  What is the minimum capital requirement in LLP registration?
There is no minimum capital requirement at the moment of incorporation. The partners can start their LLP with any amount.
  Can NRIs and foreign nationals or foreign entities register a LLP in India?
Yes, the LLP Act 2008 allows Foreign Nationals including Foreign Companies & LLPs to incorporate a LLP in India provided at least one designated partner is resident of India. However, the LLP/Partners would have to comply with all relevant Foreign Exchange Laws/ Rules/ Regulations/ Guidelines.
  For what period a name can be reserved by Registrar?
The name can be reserved by ROC on approval of Form 1, for a period of 3 months from the date of intimation by the Registrar. However, Foreign LLP/Companies have an option to reserve their existing names, under which they are operating outside India, for a period of 3 years in India, which can be further renewed on application to Registrar in Form 25.
  Can a LLP be a partner in another LLP?
Yes. A LLP can be partner in another LLP as it is formed as a separate legal entity as per the provisions of the Limited Liability Partnership Act, 2008.
  Whether every LLP would be required to maintain and file accounts?
An LLP shall be under obligation to maintain annual accounts reflecting true and fair view of its state of affairs. A “Statement of Accounts and Solvency” in prescribed form shall be filed by every LLP with the Registrar every year.
  Whether audit of all LLPs would be mandatory?
The accounts of every LLP shall be audited in accordance with Rule 24 of LLP, Rules 2009.
Such rules, inter-alia, provides that any LLP, whose turnover does not exceed, in any financial year, forty lakh rupees, or whose contribution does not exceed twenty five lakh rupees, is not required to get its accounts audited. However, if the partners of such limited liability partnership decide to get the accounts of such LLP audited, the accounts shall be audited only in accordance with such rule.
  Whether any Annual Return would be required to be filed by an LLP?
Every LLP would be required to file annual return in Form 11 with ROC within 60 days of closer of financial year. The annual return will be available for public inspection on payment of prescribed fees to Registrar.
  Which documents will be available for public inspection in the office of Registrar?
The following documents/information will be available for inspection by any person:-

  • A) Incorporation document,
  • B) Names of partners and changes, if any, made therein,
  • C) Statement of Account and Solvency
  • D) Annual Return
  Whether other business entities like firm or company would be able to convert themselves into LLP?
The LLP Act contains enabling provisions pursuant to which a firm (set up under Indian Partnership Act, 1932) and private company or unlisted public company (incorporated under Companies Act) would be able to convert themselves into LLPs. Provisions of clause 58 and Schedule II to Schedule IV to the Act provide procedure in this regard.
  Whether two LLPs would be allowed to merge?
Provisions of section 60 to 62 of the Act provide for the manner in which compromises or arrangements including mergers and amalgamations involving LLPs shall be allowed.