A Limited Liability Partnership (LLP) registration is a type of registration by which business structure is registered with online portal at MCA. It gives a separate legal existence to the business different from its Partner’s and designated Partner’s. It is also an alternative Corporate business form that gives to a company the benefits of Separate Legal Entity, Limited Liability, Cost-Effectiveness and Minimal Compliances, No Mandatory Capital Contribution and Flexible Partners Limit.
LLP Registration- Limited Liability Partnership Registration, LLP Registration in India involves a few key Steps:
- To obtain a Digital Signature Certificate (DSC) by submitting documents through the online signature process that verifies the authenticity of the documents submitted by all designated Partners and also the Director Identification Number (DIN) for them by applying for online government-recognized, Ministry of Corporate Affairs (MCA), portal.
- Choose a unique name for your LLP and apply for name approval via the Ministry of Corporate Affairs (MCA) portal using Form RUN-LLP.
- Prepare an LLP agreement in Form-3, online on the MCA portal within 30 days of Incorporation. The LLP agreement must be printed on stamp paper. That outlines the Rights, Duties, and Profit-Sharing ratio of the designated Partners/Director. Once the LLP agreement is ready, file/fill Form-1 LLP, (for Incorporation) with the Registrar of Companies (RoC), attaching the required necessary documents such as the approved name, identity, and address proof of Partners/Directors such as an Aadhar card, driver’s license, passport or voter ID, Business address proof such as an electricity bill or telephone bill. No Objection Certificate, (NOC) from the owner of the registered office and Rent agreement, if applicable, and the LLP agreement. After the RoC processes the application, a Certificate of Incorporation is issued, confirming the establishment of the LLP, as well as you must apply for a PAN and TAN for the LLP, and also open a Business Bank Account. The entire process typically takes 7-10 days after submitting the application form along with complete required documents, with no Minimum Capital requirement for LLP Registration.