Limited Liability Partnership (LLP) Registration offers a blend of partnership and corporate advantages. With partners enjoying limited liability and simplified procedures, LLPs have their own legal identity, reducing risk and paperwork while fostering flexibility and trust.
Brief About Limited Liability Partnership (LLP) Registration
Insight into Limited Liability Partnership (LLP) Registration in Mumbai
A Limited Liability Partnership (LLP) is a unique type of business setup with a mix of partnership’s and a company’s features. In an LLP, partners enjoy limited liability, similar to shareholders in a company and also have flexibility and simplicity of a partnership. This arrangement grants the LLP its legal identity, allowing it to take legal actions and be subject to legal actions separately from its partners.
| Eligibility Criteria | ||
|---|---|---|
| i | Minimum of Two Partners | Minimum of two partners required with no upper threshold on the maximum number of partners. |
| ii | Designated Partners | Within the partnership framework, at least two selected partners need to be Designated Partners and they must be natural individuals. At least one of these designated partners must also maintain residency in India. |
| iii | Nomination for Body Corporate Partner | If a body corporate assumes the role of a partner, the designation of a natural person must act as its representative. |
| iv | Agreed Contribution | Each partner is required to contribute the shared capital of the LLP, as stipulated and agreed upon. |
| v | Minimum Authorized Capital | The LLP is mandated to possess an authorized capital of at least Rs.1 lakh. |
Key Benefits of Limited Liability Partnership (LLP) Registration in Mumbai
Discover the Advantages of Our Business Setup Services. From streamlined processes to expert guidance, we ensure your business establishment journey is smooth and efficient. Benefit from our strategic insights, legal expertise, and tailored solutions designed to meet your unique business needs and goals.
- Own Legal Identity
An LLP is like its own person, just like big companies. This helps people trust and work with it, as it can do legal things independently. - Less Risk for Partners
LLP partners are only responsible for what they put in. They don’t have to pay for all the debts or losses, which is good for their reputation. - Saves Money and Time
Starting an LLP costs less and has fewer rules than big companies. There’s less paperwork to do every year. - No Fixed Money Needed
You don’t need much money to start an LLP. Partners can put in whatever amount they want.
Your Guide to Compliance and Business Success in MSME Sector
Explore Our Streamlined Registration Process. Our expert team ensures a hassle-free journey, guiding you through every step with precision and efficiency, so you can focus on your business goals.
Step 1
Obtain a Digital Signature Certificate (DSC)
All proposed partners of the LLP must obtain a Digital Signature Certificate (DSC) since all government filings require digital signatures.
Step 2
Obtain Director Identification Number (DIN)
Partners without a DIN need to apply for one. The Director Identification Number (DIN) is a unique identification number assigned to individuals aspiring to become directors or designated partners in LLPs.
Step 3
Choose a Name for the LLP
Select a unique and suitable name for your LLP, adhering to Ministry of Corporate Affairs guidelines.
Step 4
Form for Incorporation of LLP (FiLLiP)
This form collects essential information about the proposed LLP, partners, LLP agreement, and registered office address. It includes a declaration from partners consenting to act as designated partners and comply with LLP regulations.
Step 5
Draft LLP Agreement
Create the LLP Agreement outlining partner rights, duties, and obligations. This agreement must be notarized and filed with the Ministry of Corporate Affairs within 30 days of incorporation.
Step 6
Obtain a Certificate of Incorporation
Once forms and documents are filed and verified, the Registrar of Companies (RoC) will issue the Certificate of Incorporation, officially recognizing the LLP's existence.
Step 7
Apply for PAN and TAN
After obtaining the Certificate of Incorporation, apply for the Permanent Account Number (PAN) and TAN for the LLP.
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Documents required for Limited Liability Partnership (LLP) Registration in Mumbai
Navigate the complexities of business setup effortlessly with our comprehensive document checklist. From identity verification to legal formalities, we cover all the essentials for a seamless registration process. Count on our expertise to guide you through every step, ensuring compliance and peace of mind as you embark on your entrepreneurial journey.
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Documents required for Limited Liability Partnership (LLP) Registration in Mumbai
Navigate the complexities of business setup effortlessly with our comprehensive document checklist. From identity verification to legal formalities, we cover all the essentials for a seamless registration process. Count on our expertise to guide you through every step, ensuring compliance and peace of mind as you embark on your entrepreneurial journey.
- PAN Card/ID Proof of Partners
Address Proof of Partners: Partners can submit the following documents: Voter’s ID, Passport, Driver’s License, or Aadhar Card. - Residence Proof of Partners
Partners need to provide recent documents such as a bank statement, telephone bill, mobile bill, electricity bill, or gas bill from the last 2-3 months. - Passport-size Photograph
Partners should provide a passport-size photograph with a white background. - For Foreign Nationals and NRIs
Foreign nationals and NRIs intending to partner in an Indian LLP should submit their passport. Additionally, proof of address, such as a driving license, bank statement, residence card, or any government-issued identity proof containing the address, is required. - Proof of Registered Office Address
This includes the landlord’s rent agreement and a no-objection certificate if the office space is rented. A recent utility bill (gas, electricity, or telephone) with the complete address and owner’s name (dated two months or older) should also be submitted. - Digital Signature Certificate (DSC)
At least one designated partner must have a DSC for digitally signing documents.
