Online LLP Registration in India (Limited Liability Partnership)

LLP Registration in India is quick and easy with LegalWiz.in. More than 6,000 businesses trust us to register Limited Liability Partnerships and keep their businesses compliant with the law. Our team of expert CA and CS help you with the process of online registration. The end-to-end incorporation process takes about 15 business days. The fastest and most affordable way to get your LLP registration is just a click away.

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Introduction

Register as an LLP in India

Limited Liability Partnership, known as LLP, is a balanced structure that offers the benefits of a conventional partnership firm and a company. LLP is governed under the Limited Liability Partnership Act, 2008. With lower compliance requirements and structured roles and responsibilities like a partnership, LLP also offers key benefits of a company structure like the limited liability of the partners and separate and perpetual legal existence. For that, LLP Registration is a popular business formation among services and professional firms like Chartered Accountants, Company Secretaries, Management Consulting Businesses, Recruiting Firms, and other services-based businesses.

Why should you choose LegalWiz.in for your LLP Registration?

Team of Expert CA, CS, and Lawyers
Dedicated Account Manager, and 24 Hour Query Resolution Policy
Startup Friendly Pricing, and Quick Registration
100% Online LLP Registration Process and Post Incorporation Support
Thousands of Happy Customers Across All States of India
Exclusive partner offers on web hosting, payment gateways, etc.

However, transfer of ownership and issuing ownership options to employees (ESOP) are more challenging. If you are a high-growth aspiring startup and seeking external funding, Private Limited Company Registration may be a better option for you.

BENEFITS

Why Should You Register Your Business as a Limited Liability Partnership?

Partners' Liabilities are Limited

The key advantage of registering as a Limited Liability Partnership as opposed to a Partnership Firm is that it counts for a separate legal identity. Hence, LLP provides a limited liability benefit to the partners. In case of a business loss or insolvency, the liability of the partners is restricted to the capital contribution as per the LLP agreement. Further, one partner is not held responsible for the actions of negligence or misconduct of any other partner.

Operational Flexibility

LLP Agreement, deed among partners of an LLP, clarifies operating structure including rights and responsibilities of the partners. Typically, LLP has a “Designated Member” who would control day-to-day operations. It can have individuals or existing businesses as members. Further, this structure allows to clearly define the roles and responsibilities of the partners. It could also help in protecting the partner’s interest in case of loss because of an unlawful act of any other partner.

Separate Legal Existence

Limited Liability Partnership Registration creates a separate legal identity from its partners. Governed by the LLP Act of 2008, it allows the business to contract with other entities, take legal action, own assets, and borrow funds in the name of the LLP itself. It provides flexibility to the business to function independently and in perpetuity, irrespective of change or death of partners.

Lower Compliance Requirement

Compliance requirements for an LLP are lesser as compared to Private Limited Companies. It doesn’t have a mandatory audit requirement until a certain level of turnover or contribution. Unlike companies, compliances related to board meetings, statutory meetings, etc. do not apply to LLPs. Professional services for compliance are typically available at cheaper rates than that for companies, making it a cost-effective formation type to maintain.

Documents Checklist

Documents Required for LLP Registration in India

PAN Card

PAN Card of all partners
Foreign nationals may provide passport

Partners Address Proof

Aadhar Card/ Voter ID/ Passport/ Driving License of all partners

Photograph

Latest Passport size photograph of all partners

Business Address Proof

Latest Electricity Bill/ Telephone Bill of the registered office address

NOC from owner

No Objection Certificate to be obtained from the owner of registered office

Rent Agreement

Rent Agreement of the registered office should be provided, if any

Note

In case of NRI or Foreign National, documents of the partner must be notarized or apostilled

LLP name structure

Unique Name

Helps in easy approval of name, and to create distinct identity

Business Object

Clearly communicate your business activity

Constitution Type

The name of the registered LLP must end with LLP or Limited Liability Partnership as a suffix

Learn More

Online Registration

Start Your LLP – Quick and Easy!

1. Answer Quick Questions

Pick a package for LLP registration that best fits your requirements
It takes less than 10 minutes to fill in our questionnaires
Provide basic details & documents required for LLP registration
Make payment through secured payment gateways for LLP registration fees
You are assisted by our experts throughout the process

2. Relax While Team of Experts Get It All Done

Assigned Relationship Manager
Procurement of Digital Signatures (DSC)
Application for LLP Name Reservation
Certificate of LLP Incorporation
Application for Director Identification Number (DIN)
Application for PAN and TAN
Drafting of LLP agreement and other required documents

3. Wow! LLP Registration was Easy

Your business is registered, get-set-grow!
All it takes is 15 – 18 working days to register and incorporate your LLP in India*

*Subject to Government processing time

The Process

How Long does It Take?

Day 1 - 2

Application for Digital Signature Certificate

Day 3 - 5

Checking LLP Name availability
Application for Name Reservation under “LLP-RUN”
Reservation of LLP Name

Day 6 - 10

Drafting the LLP incorporation document
Filing application for LLP registration
Application for DIN allotment of Designated Partners
Certificate of LLP Incorporation

Day 11 - 14

Application for PAN and TAN of LLP
Drafting of LLP Agreement

Day 15 - 18

Payment of Stamp Duty
Filing of LLP Agreement
Government processing time

COMPARE WITH OTHER FORMATION TYPES

LLP vs. Private Limite Company vs. Partnership

	Private Limited Company	One Person Company	Limited Liability Partnership	Partnership Firm	Proprietorship Firm
Applicable Law	Companies Act, 2013	Companies Act, 2013	Limited Liability Partnership Act, 2008	Indian Partnership Act, 1932	No specified Act
Registration	Mandatory	Mandatory	Mandatory	Optional	No
	PLC must be registered with MCA under the Companies Act	Same as Private Limited Company	LLP must be registered with MCA under the LLP Act	Partnerships can be registerd or Unregistered, there are obvious benefits to register with the State ROF	No registration required. Registration under MSME or GST act are considered valid for Proprietor Firms
Number of Owners	2 – 200	Only 1	2 – Unlimited	2 – 50	Only 1
	Minimum of 2 to maximum of 200 shareholders excluding present or former employees who are members	Only one shareholder	Minimum 2 Designated Partners are required. No limit on the number of maximum partners	Minimum 2 partners, and maximum 50 partners	The proprietor can be the only owner of the firm
Separate Legal Entity	Yes	Yes	Yes	No	No
	PLC is a separate legal entity, and can enter into contracts or own assets in it’s own name	Same as Private Limited Comapany	Same as Private Limited Comapany	Partnership firm does not have any separate identity from its partners	Proprietor and business are the same, and hold same PAN number
Liability Protection	Limited	Limited	Limited	Unlimited	Unlimited
	Limited to the share capital subscribed (may vary if defined as limited by guarantee or unlimited liability in the MOA)	Same as Private Limited Company	Limited to the capital contribution agreed by the partner in the LLP Agreement	Partners are jointly and severally liable to pay the debts of the Partnership Firm	Paying off the liabilities of the firm is the proprietor’s responsibility
Statutory Audit	Mandatory	Mandatory	Based On Applicability	Not Mandatory	Not Mandatory
	Required to appoint a statutory auditor within 30 days of company incorporation	Same as Private Limited Company	Statutory audit required when turnover exceeds INR 40 Lac or contribution exceeds INR 25 Lac	No statutory audit required. Tax audit applicable on basis of total turnover	Same as Partnership Firm
Ownership Transferability	Yes	Yes (Restricted)	Yes	Yes (Restricted)	No
	Shares are easily transferable, so it makes it a most preferred option for raising capital through external investors	There is only one owner in OPC. 100% shares need to be tranferred to change ownership	Ownership can be changed with consent of other partners, by drafting a supplementary agreement	Ownership is not easily transferable. Partnership deed outlines the restriction for transfer of ownership	Ownership of the proprietorship is not transferable
Perpetual Existence	Yes	Yes	Yes	No	No
	Private Company prevails with change in ownership or management	OPC has a perpetual succession, but can only have one owner at any time	Change in Partners or Designated Partners does not affect the existence of an LLP	Change in partner leads to dissolution or formation of another partnership firm	Death or insolvency of proprietor dissolves the business
Foreign Ownership	Allowed	Not Allowed	Allowed	Allowed	Not Allowed
	Foreign nationals can invest as per RBI and FEMA guidelines, usually under the Automatic Route	Member, nominee and director must be an Indian resident	Foreign nationals can invest as per RBI and FEMA guidelines, usually under the Automatic Route	Nnon Resident Indian (NRI) can be a partner in the Partnership Firm, subject to RBI regulations	Foreign Nationals cannot own proprietorship business in India
Taxability	Moderate	Moderate	High	High	Low
	Lower rate of 25% for companies with gross turnover of INR 400 Crore. Additional dividend distribution tax may apply	Same as Private Limited Company	Tax rate of 30% on business profits, tax benefits to partners on profit distribution is high	Same as LLP	Tax rates for individuals apply to Proprietorship Firm, as per the Income Tax slab
Compliance Requirement	High	High	Moderate	Low	Low
	Private company has the highest compliance requirements, both annual and event based	OPC compliance requirements are similar to PLC, except conducting an Annual General Meeting (AGM)	Annual filing and few event based filings are necessary, but lesser compliance requirements as compared to company structure	ITR of partnership needs to be filed annually, no major compliance requirements otherwise	No requirement to file a separate ITR. Very less to no compliance hassle
	Know More	Know More	Get Started	Know More	Know More

Most suitable for professionals and services businesses

LLP Incorporation offers a blend of operational flexibilities and limited liability protection to owners. It also qualifies for DIPP registration to avail the Startup India scheme benefits

Frequently Asked Questions

Questions You May Have on LLP Incorporation in India

2020-11-11T12:44:33+05:30

What are the minimum requirements to register a LLP in India?

There must be at least two individuals to be appointed as Designated Partners, out of which one must be an Indian resident. Also, there is a pre-requisite to have an address of a business in India so as to register it as a registered office for your LLP.

2020-11-11T12:44:11+05:30

Is there any minimum capital requirement for LLP registration in India?

No. There is no minimum amount prescribed to form an LLP in India. It can be started with any amount of capital demanded by the business. Although there is no minimum requirement, every partner must make a contribution financially to form LLP. The amount of capital contribution is disclosed in the LLP Agreement and amount of stamp duty is decided by the total contribution amount.

2020-11-11T12:43:51+05:30

How to reserve the name for a Limited Liability Partnership?

LLP name availability is as an essential part for an online LLP registration. The name of an LLP is reserved through a web based form named “LLP-RUN” (Reserve Unique Name). The partners can provide maximum of 2 names in preferential order to reserve any one. The registrar may ask to re-submit the application with different name, if names do not fall under criteria of uniqueness, relevancy or does not fulfil the necessary requirements.

2020-11-11T12:43:29+05:30

What are the requirements to be a Partner/ Designated Partner for LLP formation in India?

There are no limitations in terms of citizenship or residential status to be a Partner in LLP. Therefore, the LLP Act, 2008 allows Foreign Nationals, including Foreign Companies & LLPs to incorporate LLP in India. The pre-requisite is to have at least one Designated Partner who is a resident of India. However, the person should be of the age 18 years. This is to ensure that the person in LLP is not a minor and competent enough to enter into contract. Also, the proposed Designated Partner shall have DIN.

2020-11-11T12:43:05+05:30

What is Director Identification Number (DIN)? Is DPIN is required for LLP Registration?

The concept of DPIN (Designated Partner Identification Number) is replaced by DIN with respect to the LLP incorporation. Director Identification Number is a unique number assigned by the MCA to Individuals on whose behalf the application is made. This allows any individual to be Director in any Company or Designated Partner in LLP.
The application of DIN allotment is made with incorporation application in FiLLiP subject to maximum 2 DIN.

2020-11-11T12:42:31+05:30

What is a Digital Signature Certificate? Who shall procure DSC for Limited Liability Partnership Registration?

Digital Signature Certificate for LLP is provided in the form of a token and issued by Certified Authorities. Any form filed for incorporation of Limited Liability Partnership (LLP) in India online shall be submitted after affixing the DSC of the designated partner.

2020-11-11T12:42:11+05:30

Whether a place of office is required for online LLP registration?

Yes, the partners must provide a place of business in India with the required list of documents. It can be both – a residential or commercial plot. In most cases, the address is used for the communication purpose by the MCA and other concerned authorities and is also published on its portal.

2020-11-11T12:41:19+05:30

What is LLP Agreement? Does it require filing with MCA?

LLP Agreement is an agreement executed by all partners after LLP incorporation in India. The agreement prescribes all the clauses related to business, including the rights, roles, duties, and responsibilities of partners in LLP. The agreement must be filed within 30 days of the issue of a certificate of incorporation. Failure to do so will charge an additional fee of ₹ 100 per day till the date of filing.

2020-11-11T12:40:38+05:30

Can an LLP carry on more than one business activities?

Yes, a Limited Liability Partnership registered in India can carry on more than one business subject to their relevancy. The activities must be related or in the same field itself. Unrelated activities such as Interior Designing and Legal consultancy cannot be carried under same LLP. The business activities are mentioned in the agreement and must be approved from RoC.

2020-11-11T12:40:18+05:30

Whether LLP can be registered for Not-for-profit activities?

No, one of the essential requirements for setting up LLP is ‘carrying on a lawful business with a view to profit’. Therefore, LLP cannot be incorporated for undertaking “Not-For-Profit” activities.

2020-11-11T12:39:57+05:30

When can I get the PAN and TAN of the LLP?

The PAN and TAN used for the LLP formation can be applied once the Certificate of Incorporation of the Limited Liability Partnership is issued. The physical copy of the PAN will be received at the Registered Office once the same is dispatched by the Income Tax Department.

2020-11-11T12:39:34+05:30

Whether Audit is mandatory after LLP registration in India?

Statutory audit in case of LLP registration depends on the turnover and contribution of the LLP. If the LLP turnover exceeds ₹ 40 lacs and/or the capital contribution exceeds ₹ 25 lacs, the financial statements must be audited by an eligible statutory auditor.

2020-11-11T12:40:58+05:30

How Stamp Duty amount is decided for LLP Agreement? Whether notarization is necessary?

The amount of capital contribution is taken into consideration in deciding the stamp duty on the LLP Agreement in India. The rate of stamp duty varies from State to State. The State Stamp Act will be applied depending on where the registered office is situated. The amount of ₹ 500 is included in our package cost. Further, the Notary on the Agreement is not a statutory requirement and not required by the MCA. A notary can be required by the bank officials but is not mandatory for incorporation of an LLP.

2020-11-11T12:39:13+05:30

What are the compliance requirements once LLP is registered?

Once online LLP registration completes, the partners must open a bank account in the name of LLP for business transactions. There is no additional requirement to be fulfilled. However, the partners must deposit the agreed amount to contribute as and when required. Furthermore, the annual compliance filing must be fulfilled every year upon LLP registration.

2020-11-11T12:38:53+05:30

Whether a Body Corporate can be a Partner in the LLP?

Yes, a body corporate can be a Partner in an LLP. However, to fulfill the requirement of minimum Designated Partner, any of the two Partners or the nominee of the Body Corporate shall act as an authorized individual on behalf of the body corporate in the LLP.

2020-11-11T12:38:33+05:30

Is Foreign Direct Investment (FDI) allowed in LLP?

Yes, Foreign Direct Investment (FDI) is allowed in LLP under the automatic route in the sectors allowed by the Foreign Investments Promotion Board (FIPB). However, Foreign Institutional Investors (Flls) and Foreign Venture Capital Investors (FVCIs) will not be permitted to invest in LLPs. LLPs will also not be permitted to avail External Commercial Borrowings (ECB.)

2020-11-11T12:38:02+05:30

Can an existing partnership firm or company be converted to LLP?

Yes, an existing partnership firm or a company (unlisted) can be converted into LLP. There are many advantages to converting a partnership firm into an LLP.

2020-03-18T04:44:12+05:30

What is the role of Accountants and Auditors in Limited Liability Partnership?

Daily transactions of the business are recorded in the Books of Accounts of the LLP by the Accountant/s. The Accounts hence recorded are verified by an Independent Auditor to make sure that no statutory compliance are missed and provide an Audit Report for the same.
(Note: LegalWiz.in shall only take the accountability of the Accounting Service provided by them but however shall help in appointment of Independent Auditor for your business.)