What is LLP Incorporation Overview

Limited Liability Partnership (LLP) in India took shape after January 2009, making it an instant success with startups and professional services. Limited Liability Partnership (LLP) Registration as the name suggests defines limited liability to its partners. Thus it has features of both, a corporation and a partnership. One partner is responsible for only his own actions and not the actions of his partner. LLPs are governed by Limited Liability Partnership Act(LLP Act), 2008.

Process for LLP Incorporation

01

Step 1

Arrange basic documents of Partners

02

Step 2

Fill in an online form with accurate information

03

Step 3

Apply for Digital Signature and DIN of Partners

04

Step 4

Prepare all legal documents

05

Step 5

Apply to name availability of the proposed LLP

06

Step 6

Verification of all documents and forms by the respective Government dept and authorities

07

Step 7

File Incorporation Docs with ROC

08

Step 8

Get LLP Incorporation Certificate

09

Step 9

Drafting of LLP Agreement

010

Step 10

Filing of LLP Agreement

Documents Required For LLP Incorporation

Copy of PAN Card of partners
Passport size photograph of partners
Copy of Aadhaar Card/ Voter identity card/ Driver’s license as address proof
Electricity/ Water bill/ Telphone bill/ Latest bank statement as proof of Registered Office (Business Place)
Copy of Sale Deed/Property Deed (If owned property)
Landlord NOC (Format will be provided)
Passport (in case of Foreign Nationals/ NRIs)
Digital Signature Certificate
Copy of Notarized Rental Agreement
Copy of NOC from the property owner

Benefits Of LLP Incorporation

Limited Liability Protection to Directors personal assets
Separate Legal Existence & Operational Flexibility
Better image and credibility in Market
No Audit Requirement & Minimal Compliances
Suitable For Small Business

Checklist /Minimum requirement for LLP Incorporation

Minimum 2 Partners
If a body corporate is a Partner, it has to nominate a natural person as its Nominee.
There is no concept of share capital, but each Partner has to contribute towards capital of LLP.
DIN (Director Identification Number) for all the Designated Partners.
DSC (Digital Signature Certificate) for all the Designated Partners.
Address proof for office of LLP.