Overview
An LLP is a separate legal entity from its partners, meaning the LLP can own property, sue, and be sued in its own name. The main benefit of an LLP is that the liability of the partners is limited to their agreed contribution to the LLP. This form of business structure is particularly advantageous for businesses that want to maintain a flexible management structure while enjoying the benefits of limited liability.
How to Register an LLP in India?
Choose a Unique Name for Your LLP
The first step in the registration process is to choose a name for your LLP. This name should not be similar to any existing company or LLP and should comply with the naming guidelines issued by the MCA. The name must reflect the business nature and should not infringe upon any registered trademark.
Obtain Digital Signature Certificate (DSC)
Each partner in the LLP must obtain a Digital Signature Certificate (DSC) to sign documents electronically. A Class-3 DSC is typically required, and it has a validity of 2 years.
Apply for Director Identification Number (DIN)
Partners of an LLP must apply for a Director Identification Number (DIN). This number is mandatory for all individuals who are proposed to be designated partners in the LLP.
File the Incorporation Form
The next step is to file Form FiLLiP (Form for Incorporation of Limited Liability Partnership), which includes details such as the name of the LLP, details of partners, and the registered office address. This form also includes the application for PAN and TAN.
Draft the LLP Agreement
An LLP Agreement defines the rights and responsibilities of each partner, their profit-sharing ratio, and other crucial operational terms. This agreement must be filed with the Registrar within 30 days of the LLP’s incorporation.
Certificate of Incorporation
Once the MCA verifies the incorporation form and accompanying documents, a Certificate of Incorporation is issued. This certificate contains the LLP’s Corporate Identity Number (CIN) and serves as legal proof of its formation.
Obtain PAN & TAN
Upon incorporation, we assist in obtaining the LLP’s Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for taxation purposes.
Open a Bank Account
A bank account in the name of the LLP is essential to conduct business transactions. We help you open a current account in the name of your LLP by providing the necessary documentation and liaising with banks.
GST Registration
If your LLP’s turnover exceeds the prescribed threshold or engages in interstate transactions, GST registration is mandatory. We assist in filing for GST registration and ensure your LLP complies with GST regulations.
Eligibility for Registering an LLP in India
To register an LLP, the following eligibility criteria must be met:
Minimum Partners: At least two designated partners are required.
Residential Status: At least one partner must be a resident of India.
Unique Name: The LLP name must not resemble an existing company or LLP.
Registered Office: The LLP must have a registered office in India.
No Minimum Capital Requirement: There is no minimum capital requirement for LLP registration.
How to Register an LLP in India?
At BookmyLLC, we follow a streamlined process for registering your company. Here’s a step-by-step breakdown:
Step 1: Obtain DSC and DIN
Each proposed director must obtain a Digital Signature Certificate (DSC), which is used to sign documents electronically. We also assist in acquiring a Director Identification Number (DIN) for the directors.
Step 2: Name Reservation
We help you choose and reserve a unique name for your company through the MCA’s SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) system. Our team ensures the name is compliant with the Companies Act, 2013, and does not violate any trademark regulations.
Step 3: Preparation of Incorporation Documents
Our experts prepare essential documents like the Memorandum of Association (MoA) and Articles of Association (AoA). These documents outline the company’s objectives, rules, and regulations.
Step 4: Filing of Incorporation Documents
Once the documents are ready, they are filed with the MCA through the V3 portal, along with other relevant forms and the applicable registration fee.
Step 5: Certificate of Incorporation
After successful verification, the MCA issues a Certificate of Incorporation, marking the official establishment of your company. You will also receive your company’s Corporate Identification Number (CIN).
Step 6: Apply for PAN and TAN
Upon incorporation, we help you obtain your company’s Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN).
Step 7: Bank Account Assistance
After the company is incorporated, the next important step is opening a current bank account in the company’s name. At BookmyLLC, we assist you in selecting the best bank based on your business needs and help you complete all the required paperwork for opening a current account.
Step 8: GST Registration
Once your Private Limited Company is set up, it is essential to register for Goods and Services Tax (GST) if your business’s annual turnover exceeds the threshold limit (currently ₹20 lakh for services and ₹40 lakh for goods). GST registration is mandatory for companies that engage in interstate trade or e-commerce, regardless of turnover.
At BookmyLLC, we take care of the GST registration process for you. We prepare and submit the required documents through the GST portal, ensuring you receive your GSTIN (Goods and Services Tax Identification Number) quickly and efficiently. Proper GST registration ensures your business complies with tax laws and allows you to claim input tax credit on business expenses.
Documents Required for LLP Registration
For All Partners
- Proof of Identity (Passport/ Voter ID/ Driving License)
- PAN Card
- Address Proof (Utility Bills, Bank Statement)
- Passport-size photograph
For the Registered Office
- Latest utility bill
- Rental Agreement (if the office is rented)
- No Objection Certificate (NOC) from the landlord
How we can help you?
- Expert Guidance: We provide personalized advice and support throughout the registration process, ensuring compliance with Indian corporate laws.
Efficiency: Our streamlined process ensures timely registration, minimizing delays and administrative burdens for your business.
Compliance with Indian Corporate Laws: We ensure your business meets all necessary legal requirements, staying compliant with India’s regulatory framework.
Post-Incorporation Services: Our services don’t stop at registration. We offer ongoing support for all your company’s needs, including:
- Annual compliance filings
- Accounting and bookkeeping
- Tax filings and GST registration
- Additionally, certificates & licenses as per customer business needs
- Statutory audits
We ensure your company adheres to all compliance requirements with the Registrar of Companies (RoC) and other government agencies.
Tailored Solutions: We provide customized registration and compliance solutions to meet your specific business needs and goals.
Simplified Registration Process: We handle all legal paperwork, from obtaining DSCs and DINs to filing MoA and AoA, saving you time and effort.
Local Expertise: Our team has deep knowledge of Indian corporate laws and market dynamics, ensuring your business thrives in compliance with regulations.
Personalized Support: Receive dedicated, hands-on assistance throughout the registration process and beyond, with ongoing guidance and prompt responses.
Cost-Effective Solutions: We offer transparent, competitive pricing with no hidden fees, ensuring affordable services that fit your budget.
Live Process Updates: Stay informed with real-time updates on your registration status, keeping you fully aware of every stage.
Bank Account and GST Registration: We assist in opening your business bank account and registering for GST, ensuring full compliance with Indian tax laws.
Affordable Pricing: Our transparent pricing ensures no hidden costs, offering a range of budget-friendly packages for businesses of all sizes.