What Is The LLP Registration Process In India? And Documents Required?

Limited Liability Partnership is a form of partnership in a business enterprise where all the members have limited liabilities. No single partner is solely responsible for losses or misconduct of other partners.

It has become the preferred form of organization among entrepreneurs because it incorporates the benefits of both a partnership firm and a company into a single entity and the compliance requirements are less as compared to a company registration.

According to the Limited Liability Partnership Act 2008, out of all the partners, two designated partners must be individuals and from among them, one should be a resident of India.

LLP COMPANY REGISTRATION PROCESS IN INDIA

LLP registration in Mumbai involves the following processes:

1. OBTAIN A DIGITALLY SIGNED CERTIFICATE: One must apply for digital signatures of all the partners since all the documents will be digitally verified by the competent authorities.
2. APPLY FOR DIRECTOR IDENTIFICATION NUMBER(DIN): It is mandatory to attach a scanned copy of all the documents along with form DIR3 which has to be signed by a chartered accountant, company secretary, cost accountant and an advocate.
3. RESERVATION AND APPROVAL OF NAME: LLP-RUN has to be filed for reservation of the name of the LLP. This can be done at the central registration centre under Non-stop but before jotting down the name on the form, it is advisable to use the free name search facility on the MCA portal. It will help you find a name not similar to other existing firms.
4. INCORPORATION OF LLP: Once the name is approved, the next step is to fill the fiLLip form(Form for incorporation of Limited Liability Partnership). It has to be filled with the registrar who has jurisdiction over the state where the LLP is situated. A small fee has to be paid. Name approval is also done through this form.
5. FILE LIMITED LIABILITY AGREEMENT: The last step for forming an LLP is to file the agreement. It has been submitted 30 days after the date of incorporation and is printed on stamp paper, the price of which varies according to the state.

The duties of the designated partners are clearly stated in the LLP registration agreement.

After submitting the partner documents and documents of LLP, the registration process will take 15-20 days.

WHICH ARE THE DOCUMENTS REQUIRED FOR LLP COMPANY REGISTRATION?

PARTNER DOCUMENTS

• All the partners are required to provide their PAN Card details at the time of registering the LLP.
• For address proof, partners can submit any one of the following documents- voters ID, passport, drivers licence/aadhar card. The details of the PAN card and address proof should match. If there is any discrepancy, it should be corrected before submission.
• LLP registration also requires residence proof of partners. It can include the latest bank statement, mobile/telephone bill, electricity or gas bill. These documents should not be more than 2 months old and the name should be as mentioned in the PAN card
• All partners should provide a passport size photo on white background.
• It is mandatory for a foreign national looking to partner in an LLP to submit his/her passport. The passports have to be notarized or apostilled by the relevant authorities or the Indian Embassy in the country of residence of the foreign nationals.
• Foreign nationals also have to submit proof of residence which can be a driving license, bank statement or any other government-issued identity proof. In case all the documents submitted are in a different language, then a notarized/apostille translated copy has to be submitted.

DOCUMENTS OF LLP

• Proof of registered office has to be submitted during LLP company registration or within 30 days of the incorporation.
• In case the office space is rented, then the rent agreement along with an LLC has to be submitted.
• Besides the above documents, any one utility bill like gas, electricity or telephone bill has to be submitted.