LLP Registration in Delhi

Introduction

Delhi, the capital of India is one of the leading metropolitan cities in the country. It’s the hub for many different types of businesses as well as the home for people from various walks of life. Delhi is the leading city in North India. Incorporating a business in Delhi NCR is a great economical choice. If you’re thinking about going for LLP registration for your new business, this article is for you.

Why you should go for new LLP registration in Delhi NCR

An LLP or Limited Liability Partnership is a type of business structure that give you the advantages of companies and Partnership firms while avoiding the flaws of both. For example, unlike companies, LLPs have low registration costs and compliances, and at the same time, unlike Partnership firms, Limited Liability partnership firms don’t cease to exist when one of the partners leaves. Here are some detailed advantages of LLP registration in Delhi:

Advantages of LLP Registration over Company Registration

• While limited Liability Partnerships also have a separate legal identity like companies. Unlike companies, Limited Liability Partnerships have very few compliance requirements.
• LLP registration is a lot more cost-effective than company registration.
• LLPs do not have any minimum capital contribution requirement like companies. Hence you can start an LLP whenever!
• Limited Liability partnerships can easily be transferred from one owner to another.

Pro-Tip: Every partner has to provide something for LLP formation in Delhi, be it capital contribution or skills. 

Basic Requirements for New LLP Registration in Delhi NCR

• Every Limited Liability Partnership requires a minimum of 2 partners for incorporation
• At least one of the Partners needs to be a citizen of India
• One of the Partners must be residing in India.
• Limited Liability Partnerships have no minimum capital requirement.
• Every partner must contribute something to the LLP, be it monetary or non-monetary.
• Partners also have to apply for DIN (Director identification number) or DPIN (designated partnership identification number)

LLP registration fees in Delhi

Generally, LLP registration takes about 20 days. However, with LegalWiz you can complete the entire LLP registration process within 15-18 days (Depending on MCA Approval).

As for LLP registration fees in Delhi:

Procedure for LLP Registration Online in Delhi NCR

1. The first step is to apply for DIN or DPIN. At Least two partners need to apply for DIN. This is because you need a minimum of two directors for LLP registration.
2. The second step is to apply for DSC. Once again at least two Partners need to apply for this for Limited Liability Partnership registration. 
3. After this, you have to apply for a name reservation for a Limited Liability Partnership. You can do this by using the RUN service which is available on the MCA (Ministry of Corporate Affairs) website. 
4. After all of that, you can apply for Limited Liability Partnership incorporation via the e-form FiLLiP available on the MCA website. In this, you need to state the details of your partners.  
5. Finally, you need to draft and submit your Limited Liability Partnership agreement. This has to be done within 30 days of incorporation.  

Important Documents for New LLP Registration in Delhi

For LLP formation in Delhi you will have to provide the  following documents:

• Copies of the to-be partners’ PAN Cards
• Identity proof of copies of the to-be partners (Aadhar Card, Passport, Driving License, etc)
• Copies of the to-be partners’ Address Proof (Electricity bill, water bill or any other utility bill)
• Proof of address for the Registered Office (Utility Bills)
• NOC (No Object Certificate) from the owner of the property if the registered office is on rent
• A copy of the Rental Agreement if the registered office is on rent
• DSC (Digital Signature Certificate) of at least two partners

Conclusion

LLP registration in Delhi is a great option for people who want to start a venture but do not want to spend too much on registration costs or compliances. LLP Annual Compliance essentially only consists of Form 11 and Form 8 filing, which is quite simple to keep in mind. So, if you want to start a venture and want it to have legal recognition from MCA without high costs, LLP formation in Delhi is the way to go.