How to Register LLP In India? Step by Step Simplified Process of LLP Registration
LLP is defined under the Limited Liability Partnership Act of 2008, under section 2(1)(n). Since LLP offers more flexible compliance to business owners or partners, it is the first choice of new startups & businesses in India. The concept of LLP is very recent & started in 2008 in India under the Companies Act 2013.
While the process of LLP registration is completely online, you are free to register anywhere in India by keeping a set of valid documents accurate & proper. Recently, the Indian Govt, with the Ministry of Corporate Affairs, has digitalized the registration process for LLP.
Under the MCA V3 Portal, the entire LLP registration can be handled digitally with an e-filing interface & real-time status tracking system. If you are planning to regsiter LLP in Bangalore or anywhere in India, this updated step-by-step LLP registration process can be the definitive guide.
What Is LLP Registration & How much time it takes to register LLP in India?
LLP registration can be performed by business registration consultants, company secretaries, lawyers, or chartered accountants in India. You can also DIY LLP registration, but you must master the entire process. It is always advisable to do online LLP registration under expert guidance.
The Ministry of Corporate Affairs has made it easier for every business to register online recently. Coming to the timeline of LLP registration, it takes at least 2 weeks for successful registration, if provided all documents are valid & if name approval happens in the first attempt.
What Are the Advantages of Online LLP Registration in India?
After making the LLP registration process online, many founders are enjoying the benefits of quick incorporation, a digital application process, and saving huge amounts of time.
- Founders Can Apply Anywhere from India: If you are staying in Chennai & willing to do business in Bangalore or Mumbai, you can now just complete the application online. You don’t need to travel; no physical documentation or signatures are required.
- Physical Signatures Are Replaced with Digital Signatures: You only need a Digital Signature Certificate (DSC), which is beneficial for further compliance purposes like ROC & Annual returns filings of GST.
- Saving a Huge Amount of Time: There’s no need to frequently travel to local authorities for approval, and no middlemen are required to get the approval done. It is easier through the MCA portal & saves time on travel.
Step By Step Process of LLP Registration in India: As per The latest MCA updates
Step 1 – Obtain a Digital Signature Certificate (DSC) for All Designated Partners
The designated partners of the proposed LLP should obtain a DSC for all document-filing purposes. As document filing is done online every time, DSC is compulsory for all partners.
Actax India makes the process easier by taking care of getting a DSC for designated partners from certified agencies. The price for DSC varies depending on the service providers. You should obtain a Class 3 DSC. You can also contact our team to get a Digital Signature Certificate.
Step 2 – Get Designated Partner’s Identification Number (DPIN)
You need to get a dedicated identification number, i.e., DPIN. You should apply for a DPIN for all the designated partners of the proposed LLP.
You have to apply for DIN using the DIR-3 Form. You have to attach a few documents (ID Proof/PAN Card/Address Proof) & you can use the same DIN to get appointed as Director for other companies.
Step 3 – Get Your Company Name Approved for an LLP Firm
Reserve a Unique Name for Limited Liability Partnership (RUN-LLP) – it is a dedicated service for any new companies registering in India for name approval.
Under this, you have to submit 6 unique names for name approval. CRC checks for availability based on other factors & allows you to suggest a name. If it is rejected, you’ll be given 14 days to rectify & reapply for Name Approval. If approved, it will be reserved for 90 days & you will get the confirmation of the same.
To ensure name approval happens quickly, check our guidelines for choosing the new name for your company. While choosing the name The name approval process is carried out by the Central Registration Centre (CRC). It is recommended to check the name availability for your new firm by using the Check Company Name tool provided by MCA.
The government fees for name approval is ₹200/-
Step 4 – File for LLP Incorporation Using FiLLiP
Using FiLLiP (Form for Incorporation of Limited Liability Partnership), you can apply for the incorporation of an LLP. This form (Form 2) is filed by the registrar whose jurisdiction is the place of incorporation. The name approved in the Name Approval stage is used for the same.
The FiLLiP is an integrated form & the fee to file the form is as per ‘Annexure A’. Upload all the documents required for LLP registration. You quickly need documents like Address proof, ID proof, PAN card, rental agreement of the office space, NOC from the owner, and electricity bill of office space during the LLP registration process.
Step 5 – Complete Payment & Receive the Incorporation Certificate & LLPIN
Once after uploading all the documents are uploaded, the name approval process, and the LLP registration fees for MCA. The Government fees for LLP registration are as follows –
If the paid-up capital is upto
₹1 Lakh, LLP Government fees are ₹1000/-
₹1 Lakh – ₹5 Lakh – fees shall be ₹2000/-
₹ 5 Lakh – ₹10 Lakh – fees shall be ₹4000/-
Above ₹10 lakh, fees shall be ₹5000/-
Pay the above mentioned fees as applicable according to your paid-up capital, submit the application & wait for the approval. After receiving successful approvals, you will receive an Incorporation certificate & LLP Identification Number (LLPIN), which certifies you as a legal entity in India. This document acts as business proof thereafter.
Step 6 – Draft & File LLP Agreement within 30 days
Within 30 days from the Date of Incorporation, you are required to file the partnership agreement on the MCA Portal using Form-3 online. The Partnership agreement governs all mutual rights & duties of designated partners & between LLP & partners. The stamp duties to file Form 3 differ for different states.
Step 7 – Post Registration Apply for PAN, TAN, Bank Account & GST
After successful completion of the registration process, you have to apply for PAN, TAN with NSDL, which is used to authenticate financial transactions & payroll. These are the essential documents for any business entity in India.
With the help of PAN, you can open a Bank account quickly with any nationalised bank. GST is not mandatory to register for all businesses. Check your eligibility for GST here. If your business meets the criteria defined, apply for new GST registration with the local GST authority.
Need Help for LLP Registration in Bangalore?
Key Documents Required For LLP Registration Process in India
Here’s the quick list of documents required from Designated Partners for the proposed LLP
- Adhar Card/Voter ID/Passport/Driving License – as ID Proofs
- Telephone Bill/Electricity Bill/Rental Agreement/Sale Deed of your residential address – For Address Proof
- The recent 2-3 months’ bank statement of the proposed directors.
List of Documents required for Office Registration for New LLP –
- No Objection Certificate (NOC) from the owner if it is a rented property.
- Lease Deed or Sale Deed in case of leased or purchased property.
- Rental Agreement in the business name or the director’s name.
- The recent electricity bill for the registered office.
The above documents need to be collected & preserved from all directors & landlords of the proposed office space. Actax India is well experienced in helping founders with LLP registration process & can help you with end to end documentation process. For quick assistance & consultation, contact Actax India now.
Start Your LLP Registration Process Confidently
Now that you have understood the entire LLP registration process, get started with applying for DSC. It takes only 24-48 hours to get a new DSC in your name & apply for DPIN. Keep these 2 ready along with other documents & proceed with registration of LLP in Bangalore or anywhere in India. You must also compliant with local state authorities after LLP registration to establish trade.
These major & simple processes of incorporating LLP in India give you the basic knowledge & understanding. Many experts in the market help you in incorporating LLP, but our concern is to provide a strong refinement of the process & make it streamlined for future benefits. Consult experts & understand clearly the Pros and cons of LLP formation in India.
Our Actax Experts help you with proper consultation & guidance based on your business model, we suggest the right business structure to choose, & then help you register your business in India.
