Limited Liability Partnership (LLP) registration is done in accordance with the Limited Liability Partnership Act, 2008. It is a separate legal entity i.e. the entity has its own legal rights and obligations and these are separated from those running or owning the entity. It is capable of surviving beyond the lives of its partners i.e. it practices the concept of perpetual succession. Moreover, change in these partners would not affect the existence, rights, or liabilities of the LLP.  Every Limited Liability Partnership will have either the words ‘limited liability partnership” or “LLP” as the last words of its name. 

LLP registration is done on the Ministry Corporate Affairs website. This is a necessity to ensure that the body operates in a legal manner. The documents and process for LLP registration is explained with the help of this article. 

What is the eligibility criteria for LLP registration?

For LLP registration, the applicant should ensure that the following eligibility criteria are fulfilled under the Limited Liability Partnership Act, 2008:-

1. There should be a minimum of 2 Partners and there is no upper limit on the maximum number of partners of an LLP.

Note: If the number of partners reduces to 1, then the single partner can hold the position for 6 months and find another partner during this period. If the single partner is not able to find a partner during these 6 months, then the single partner has to face personally the obligations of the LLP and authorities under the Act can wind up the LLP. 

2. Partners should be 18 years or above age.
3. Partners should not be:
   • Declared unsound mind by a competent court
   • Undischarged insolvent

4. All the partners should have Designated Partners Identification Number (DPIN).
5. There is no minimum capital requirement.
6. One of the Designated Partners should be an Indian Resident.

Note: “Resident of India” means a person who has stayed in India for a period of not less than 180 days during the immediately preceding one year.

What are the essential documents required for LLP registration

The following documents of the partners are required to be submitted for LLP registration:-

1. PAN Card
2. Address proof of the partners
3. Passport (Foreign Nationals Only)
4. Aadhaar Card/ Voters Identity Card/Ration Card/ Driving License
5. Electricity Bill/Telephone Bill/Bank Statement
6. Passport Size Photo
7. Recent Utility Bill of the business place

What is the registration procedure for LLP registration

Step 1: New User Registration-

For the purposes of LLP registration and to avail services on LLP portal, the applicant is first required to register themselves as a new user in the relevant user category. To register, visit https://www.mca.gov.in/mcafoportal/login.do

Step 2:- Name approval/Reserve name

Firstly, the partners of the LLP should submit or apply for name approval/reservation of name for LLP registration. The applicant should bear in mind the following points while applying:

• Here, the partners of LLP give suggestion on names they prefer for their incorporation. 
• The name suggested should not be in usage by an entity in existence. 
• The partners can propose two names
• Moreover, this name approval is necessary to fill the form for “Incorporation of LLP.”  
• This form is accompanied with certain fees mentioned in the website.
• Hence, name approval or reservation of name for LLP registration is done by following the below mentioned steps. 

Visit https://www.mca.gov.in/content/mca/global/en/home.html> MCA Services> LLP Services> RUN-LLP

Step 3: Application for DIN or DPIN

Simultaneously, the designated partners of the proposed LLP shall obtain “Designated Partner Identification Number (DPIN)” and fill the mentioned form in the said website. The applicants are required to fill Form DIR-3 to obtain DPIN or DIN. 

Step 4: Apply for Digital Signature Certificates (DSC)

Since the LLP registration is done in the online platform, Digital Signature is used on documents submitted in the electronic form to ensure authenticity of the document under the Information Technology Act, 2000. As a result, the authorised person is required to file and sign the forms with use of Digital Signatures. This certificate is obtained only after registering their Digital Signature. 

In order to file this application, the DIN should be approved and typed correctly. The application details entered via the below mentioned link should match the DIR-3 form submitted earlier. The MCA website has a list of Certified Agencies (CA) because they have been granted license to issue DSC. 

To register for DSC, visit https://www.mca.gov.in/content/mca/global/en/home.html >MCA Services>DSC Services>Associate Director’s/Designated Partner’s/Authorized Representative’s DSC

Step 5:- Filing form of incorporation

The form is submitted with necessary documents for LLP registration. The name of the form used for LLP incorporation is Form for incorporation of Limited Liability Partnership (FiLLiP). This form is accompanied by fees mentioned. The applicant will receive approval email once the concerned official of the Ministry of Corporate Affairs is satisfied with application and gradually the status of the form will turn to “Approved”.

Step 6: File LLP Agreement

After incorporation of LLP, LLP agreement is to be filed within 30 days of incorporation of LLP. Filing of LLP agreement for completion of LLP registration is done through Form 3. This agreement is printed on a stamp paper. A LLP agreement is any written agreement amongst partners of LLP and also between partners and LLP, which determines the mutual rights and duties of the partners.

Step 6: LLP Registration Certificate

The final step for LLP registration is to apply for Certificate of Registration of LLP. When approval is received, the certificate of registration will be issued. The certificate will also contain the Limited Liability Partnership Identification Number (LPIN)

Conclusion

LLP registration process is completely online and one can do it with the help of professionals. It usually takes 7 days to register a LLP. One can also covert a LLP to a Private limited company on later stage. The conversion of LLP to Private limited company is also a completely online process and professionals will help you to facilitate the smooth conversion. For further clarifications, you can contact BizAdvisors.

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