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What is LLP Company?

LLP stands for Limited Liability Partnership, which is an incorporated business organization governed by Limited Liability Partnership Act 2008. The simple premise behind the introduction of Limited Liability Partnership (LLP) is to offer a form of business entity that is simple to maintain while providing limited liability to the business owners. Since, the introduction of LLP in 2010, it was well received with over 1 lakhs registrations to date till September, 2014.

All partners in LLP enjoy a form of limited liability protection within the partnership. The partners in LLP management have the freedom to regulate affairs of the LLP. Minimum 2 directors are required to register an LLP, and there is no restriction regarding the maximum number of members. Any individual or organization can become the partner in LLP including foreigners and NRIs (but only after he has been assigned with DIN/DPIN). The individual needs to be at least 18+ and own a valid PAN card. You can also register your LLP at your residential address and it is completely legal. For more details one can opt for Tax Home and get the LLP registration done.

The average time we would take to complete the LLP registration services in India is about 15-20 working days. One can get a consultation on LLP registration and business setup in India by scheduling an appointment with Tax Home.

Why you should choose LLP Registration?
  • Separate legal entity
  • No audit of accounts is required (if turnover is less than Rs. 40 Lakhs)
  • Limited Liability of partners
  • Less tax as compared to other companies
  • No restrictions for maximum number of partners
  • Simple and less time taking process of registration
  • Cheaper to incorporate as compared to Private Limited Company

What documents will be required for LLP registration?

  • Scanned copy of partner’s PAN Card or Passport (Foreign Nationals & NRIs)
  • Scanned copy of Adhaar Card/Voter's ID/Passport/Driver's License.
  • Copy of Rent agreement (If rented property) or Copy of Property papers (If owned property).
  • Landlord NOC (Format will be provided)
  • Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
  • Scanned passport-sized photograph.
  • Specimen signature

What are the advantages of being an LLP company?

  • 1 LLP limits your liability
  • 2 One will get tax advantages
  • 3 No limit on owners of business
  • 4 Low registration cost
  • 5 Have a great flexibility
  • 6 Easy transferable ownership
  • 7 Compulsory Audit not required

What are the minimum requirements for LLP Company registration?

  • Should have minimum 2 partners
  • No Capital Requirement
  • At least one Designated Partner as Indian Resident
  • Designated Partner Identification Number (DPIN)
  • Designated Partner Digital Signature
  • Registered Office

What is the procedure for LLP registration?

  • Complete the LLP form

    You just need to fill a simple LLP company registration form and submit essential documents.

  • Get DSC and DPIN for LLP

    Once you will submit documents, then we will give you DSC and DPIN.

  • LLP Verification will be done

    Details and documents provided by you will be verified and then we shall apply for the LLP name approval.

  • Submission of LLP documents

    On your behalf, we will create all required documents (MOA & AOA) and file them with ROC for LLP.

  • You are registered as LLP

    After documentation, your company will be incorporated as LLP firm and then we will send you all the documents.

LLP Company registration process

  • Apply for DPIN and DSC

    Apply for Designated Partner Identification Number (DPIN) & Designated Partner Digital Signature. DPIN and DSC can be obtained within the time frame of 5-7 working days. Skip the step, if already has DPIN and DSC.

  • Apply for the name of company

    The name of an organization reflects its image, so it is crucial to select a business name that is short, simple, meaningful, and unique and reflect the planned business. Maximum of 6 and a minimum of 1 name are required to be given to the Ministry of Corporate Affairs. We will get back to you with the Name approval within 5 to 7 working days.

  • Filling of essential registration documents

    After the approval of name one needs to draft a Memorandum of Association (MOA) and Articles of Associate (AOA). Both registration documents can be submitted to the Ministry of Corporate Affairs along with an application for incorporation. The Ministry of Corporate Affairs will approve the application for incorporation in 5-7 days.

  • Apply for PAN, TAN and Company Bank Account

    After the registration you can apply for PAN and TAN on company name and it will be received within 7 working days. After this you can submit the incorporation certificate, MOA, AOA and PAN to open a bank account.

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