Nowadays LLP has become a very popular form of business as many entrepreneurs are opting for this. There are many partners in the firm but they are not liable or responsible for other’s misconduct. Everyone is liable for their acts. There must be at least two individuals to be appointed as Designated Partners, out of which one must be a resident of India. Also, there is a pre-requisite to have an address of a business in India to register it as your LLP’s registered office. All limited liability partnerships are administered under the limited liability partnership act of 2008. However, in India LLP was established in April 2009. LLP Registration Cost For registration of Limited Liability Partnership, government fees are as follows (Note that there are additional costs such as DIN application fees, LLP form filing fees, etc as well): Limited Liability Partnership whose contribution does not exceed Rs. 1 lakh Rs. 500/- Limited Liability Partnership whose contribution exceeds Rs. 1 lakh but does not exceed Rs. 5 lakhs Rs. 2000/- Limited Liability Partnership whose contribution exceeds Rs. 5 lakhs but does not exceed Rs. 10 lakhs Rs. 4000/- Limited Liability Partnership whose contribution exceeds Rs. 10 lakh Rs. 5000/- However, it may vary according to the stamp duties of respective states. Get Legal advice from the best lawyer now
Before starting the process of registration, you must enroll for the DSC of the designated partners of the proposed LLP. Applying for DSC is important because the registration process of LLP is done online and requires Digital signatures.
After applying for DSC the next step is to enroll for DPIN and DIN application for the proposed Partners of the LLP. Within 5 to 7 working days, DPIN and DIN, The application for allotment of DIN have to be made in Form DIR-3.
The Name of the LLP should be cross-checked with the ROC and the trademark registry to avoid any infringement of someone else Trademark or Other Company /LLP Name. The application for the Name approval of LLP is submitted in Form RUN-LLP. It is an online application, where two names in order of preference can be filed with a note on the significance of the Name and the business activities.
Once the name is approved, it is essential to draft the Memorandum of association and Articles of Associate. Both documents are registered with the MCA with the agreement statement.
The form for incorporation is FILLIP(Form for incorporation of Limited Liability Partnership) which must be registered with the Registrar who has jurisdiction over the state in which LLP’s registered office is located.
Then one requires to apply for PAN and TAN. Incorporation certificate, MOA, AOA and PAN can be submitted with the bank for opening your bank account.
LLP agreement looks after the mutual rights and duties between the LLP and its partners.LLP agreement must be registered in Form 3 which is to be submitted in 30 days of the date of incorporation.
LLP formation starting from obtaining DSC to Filing Form 3 takes around 15 days subject to availability of all the documents.
Below is the list of documents required for registration:
Documents of Partners:
PAN Card/ ID Proof of the Partners
Address Proof of the partners
Residence Proof of Partners
Photograph
Passport (in case of Foreign Nationals/ NRIs)
Documents of LLP:
Proof of Registered Office Address
Digital Signature Certificate
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