Limited Liability Partnership (LLP)

Limited Liability Partnership (LLP) Company

LLP registration is the act of incorporating an LLP under the Limited Liability Partnership Act, 2008, with the Ministry of Corporate Affairs, Government of India. Upon registration as a limited liability partnership, it receives recognition as a unique and independent entity, quite apart from its partners, and can own property, agree to business and other contracts, and conduct business in its own name. The main idea behind LLP registration is to offer partners the advantage of limiting their liability, thereby making it a significant business option among Indian entrepreneurs.

Eligibility Requirements for LLP Registration

Before registering a Limited Liability Partnership (LLP), certain legal and documentation requirements must be fulfilled to ensure smooth approval from the Ministry of Corporate Affairs (MCA). Here is a list of eligibility criteria for LLP registration:

• All partners and designated partners must be at least 18 years old

• An LLP must have a minimum of 2 partners, with no upper limit

• At least 2 designated partners are required, and one must be an Indian resident

• Any person over 18 or a corporate body, including foreign nationals, can be a partner; individuals of unsound mind or undischarged insolvents are not eligible

• All designated partners must have a DIN/DPIN and a valid Digital Signature Certificate (DSC)

• There is no minimum capital contribution required to start an LLP

• The LLP must have a physical registered office in India with ownership or lease proof

• The proposed name must end with “LLP” and be unique from existing entities or trademarks

• The subscriber sheet must be signed by all partners and witnessed by a CA, CS, or Lawyer

• An LLP cannot be registered for non-profit activities or sectors prohibited by the government.

LLP Company Registration Process

Step 1: Name Reservation (RUN-LLP)

Step 2: DSC & DIN Application

Step 3: FiLLiP Form Filing

Step 4: Certificate of Incorporation

Step 5: PAN, TAN & Bank Account Setup

Step 6: LLP Agreement Drafting & Filing

These are the typical steps to be followed for LLP company registration in India successfully.