You can operate your business under a Limited Liability Partnership in India online. We hold immense knowledge and expertise in LLP registration and help you in the following ways.
We help you pick the right name for your company/brand.
We help you get the 2 DSC with 2 years validity.
Finally, we draft, execute, and file the LLP Agreement (along with PAN & TAN) with utmost care.
Limited Liability Partnership (LLP) in India took shape after January 2009, making it an instant success with startups and professional services. Limited Liability Partnership Registration, governed by the Limited Liability Partnership Act, 2008, combines the benefits of a partnership with that of a limited liability company. LLP was introduced to provide a form of business that is easy to maintain and to help owners by providing them with limited liability.
For a Limited Liability Partnership registration in India, Vakilsearch is one of the most affordable and steadfast service providers.
After deciding on your business model, it's important to choose between the Private limited company registration and LLP, by understanding their differences and advantages they provide, so as to choose what’s best for your business model.
The most vital reason for registering as LLP is the limited liability. The members of the firm are only liable for a small amount of debt incurred by it. This is entirely different from proprietorship and partnership where the personal assets of directors and partners are not protected if the business becomes bankrupt.
Seperate Legal Entity:
Transferring the ownership of LLP is also simple. A person can quickly be inducted in as a designated partner and the ownership switches to them.
Suitable For Small Business:
No Owner /manager Distinction:
An LLP has partners, who own and manage the business. This is different from a private limited company, whose directors may be different from shareholders. For this reason, VCs do not invest in the LLP structure.
At Vakilsearch, we make the process of LLP registration seamless and hassle-free.
Step 1: Obtaining DSC And DIN
The first step is to obtain DSC of the desired partners of the Limited Liability Partnership. The reason for this is that all the forms need to be submitted online and require the directors' digital signatures.
The law also requires that all directors file for a DIN number. The application has to be made in Form DIR- 3.
Step 2: Application For Name Approval
This process involves registering the LLP. Before you do this, you would need to see if the name is already taken. You can check on the free search facility on the MCA portal. The registrar only approves LLP names that are not taken before.
The approval of the name will be made by the Registrar only if the Central Government does not deem it undesirable. The name should also not hold any resemblance to any of the existing partnership firms, LLPs, trademarks, or body corporates.
Step 3: LLP Agreement
LLP agreement is very crucial in a limited liability partnership as it determines the mutual rights and duties amongst the partners, and between the LLP and the partners. The partners enter into the LLP agreement upon the LLP registration by filing form 3 online on the MCA portal. This procedure has to be done within 30 days of the date of incorporation.
Step 4: LLP Incorporation Certificate
Once the registrar approves your MOA and AOA, you’re steps closer to getting your LLP registered. The next step is to get the LLP Incorporation Certificate. You can do by submitting all documents to the registrar. The time frame is between 2- 12 days. Once you get your LLP Incorporation Certificate, you’re ready to go.
Step 5: Apply For PAN & TAN & Bank Account
As soon as you get the incorporation certificate, you need to apply for your company PAN & TAN with the NSDL. The cost for this procedure is less than Rs.200 and it takes around three weeks to get done.
Starting a business requires certain specific requirements to be fulfilled to be eligible for registering as an LLP.
The normal partnership structure and LLP share the same attributes when it comes to internal management, profit distribution and tax liabilities. But, it offers the partners less financial liability (limited liability).
Any business who has:
The Registrar of Companies (RoC) has issued naming guidelines for LLPs. It is essential that you follow the rules closely or your application may end up getting rejected, leading to a much longer process.
In AlphaBeta Internet Private Limited, AlphaBeta is the unique component. Now, once taken, the name will not be given to any other business in categories related to the Internet.
Abbreviations, adjectives and generic words are rejected. So XYZ would be rejected, as would Good Quality Biscuits. The words bank, exchange and stock exchange, unless approved by RBI or SEBI, would also be rejected.
No Common Trademark:
There should not be a registered trademark by the same name on the IP India website. If there is one, the name can only be approved if you are able to get a No-Objection Certificate from its owner authorising you to use it.
In Biocon Research Private Limited, the word 'Research' describes the business the company is into. You cannot have 'Research' in your name if you're, say, in the logistics or restaurant business.
Naming an LLP is often a time-consuming process as the government has put together a complicated procedure with several rules. Furthermore, there are acceptable names for an India LLP, as per the Companies Act, 2013 and LLP Act, 2008. Lucky for you Vakilsearch has built an easy-to-use tool to ensure you’re not hassled just for finding a name.
Vakilsearch is cognizant of the new process. For years, we have helped many entrepreneurs, financial advisories, ad agencies register their businesses as LLP India. From Chennai to Bangalore to Mumbai and more, our LLP services are comprehensive and reach every corner of the country.
With VakilSearch, registering LLP is one of the easiest processes in India. We make the entire compliance procedure simple and give our best efforts to complete the process at the earliest time as possible. When you choose us to be your partner to register LLP, you get to avail a few undeniable benefits. The Ministry of Corporate Affairs comes up with updates to LLP process and Vakilsearch takes care of them for you.
We also provide assistance with:
20 Working Days
Just tell us a little bit about your business and you'll have the incorporation certificate in 20 working days. It's that simple. In addition to yours, we'll be handling around 400 requests this month.
9.1 Customer Score
We make your interaction with government as smooth as is possible by doing all the paperwork for you. We will also give you absolute clarity on the process to set realistic expectations.
160 Strong Team
Our team of experienced business advisors are a phone call away, should you have any queries about the process. But we'll try to ensure that your doubts are cleared before they even arise.
30th March: Relief measures announced by Government to incentivize compliance
MCA has launched 2 schemes- Companies Fresh Start Scheme and Revised LLP settlement scheme. There is a waiver of the penalty of up to Rs 107800 for 1 year and Rs 136900 for 2 years till 30th September.