WHAT IS LLP

WHAT IS LLP?

  • The Limited Liability Partnership (LLP) Registration is governed by section 8 of the Limited Liability Partnership Act 2008 and relevant rules.
  • It is a form of Business in which features of Partnership firm & Company is integrated into LLP.
  • Its Hybrid form of Partnership firm & Company.
  • To form an LLP (Limited Liability Partnership) the requirement of a minimum of 2 Partners and 1 of them act as Designated Partner.
  • As on date the incorporation/registration of an LLP (Limited Liability Partnership) is hassle-free and Having a very low cost of Incorporation.

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ADVANTAGES OF LLP (LIMITED LIABILITY PARTNERSHIP) REGISTRATION

  • LEGAL STATUS

The LLP (Limited Liability Partnership) has its separate legal entity which distinct its Partners and LLP.

 

  • LLP (LIMITED LIABILITY PARTNERSHIP) STATUS

The “LLP (Limited Liability Partnership)” word mention at the end of the LLP name.

 

  • PERPETUAL SUCCESSION

There is no effect on the LLP existence after the decease of its existing Partners. Remaining partner appoints other partners within 6 months.

 

  • NO MINIMUM CAPITAL/CONTRIBUTION REQUIREMENT

For LLP registration there no requirement of Minimum capital/contribution brings by the partners.

 

  • LIMITED LIABILITY

The Liability of Partners is Limited to the extent of the Contribution made.

 

  • BUSINESS CREDIBILITY /FUNDRAISING

The LLP can raise funds easily in comparison to other forms of business and having high business credibility.

 

  • BRAND VALUE

The LLP is registered under the Limited Liability Partnership Act, 2008 which is passed by the Government of India or its central act. The LLP is directly registered with the Central Government (Ministry of Corporate Affairs).

 

  • EXPANSION OF BUSINESS

The LLP can expand business by inviting Partners and raised funds by inviting various venture capital. There is no maximum limit of partners in LLP.

 

  • INVITE FDI (FOREIGN DIRECT INVESTMENT

The LLP is the best form to invite FDI from abroad and it’s a very good vehicle to invite foreign national (foreign capital) to become Partner of the LLP.

 

DOCUMENTS FOR LLP REGISTRATION

DOCUMENTS OF PARTNERS.

  1. Passport Size Photo.
  2. Identity Proof (Driving License or Passport or Voter ID).
  3. Address Proof (Mobile Bill or Electricity bill or Bank Statement).
  4. PAN Card (Mandatory).
  5. Passport is mandatory for Foreign National or Non-Resident India (NRI).
  6. Aadhar Card.
  7. Mobile No.
  8. Email Id.
  9. Qualification.
  10. Occupation.

DOCUMENTS OF LLP

  1. Name of the LLP.
  2. Business Objective (LLP registration is done for only one objective).
  3. Contribution amount.
  4. Profit Sharing Ratio.
  5. Registered Office of the LLP.
  6. Property Owned (Sale Deed or Electricity Bill) OR Property Rented ( Rent Agreement).

MINIMUM REQUIREMENTS FOR LLP REGISTRATION

  • Minimum 2 Partners.
  • 1 Designated Partner.
  • There is no limit of Contribution but normally 1 lakh.
  • Registered office for LLP
  • All Partners have a DPIN (Designated Partner Identification Number).
  • The LLP has a Business Objective.

TIPS FOR LLP NAME SELECTION

  • UNIQUE

The name of the proposed LLP shall be unique and related to its business activities (eg. Reliance LLP (petroleum is the business activity of reliance LLP).

 

  • SIMPLE & SHORT

The name shall be simple to pronounce or easy to learn and also short (eg. Tata Consultancy Ltd).

 

  • LEGAL NAME

The proposed LLP name shall not be illegal & also have legal business objectives (eg. ISIS limited (it’s illegal because ISIS is terrorist organization).

 

  • NO OFFENSIVE NAME

The name shall not create any religious, culture, community violence & not offensive (eg. Pakistan terrorist group Ltd. (the name is offensive & against the law).

 

  • SUFFIX

The name of the LLP shall suffix with “LLP (Limited Liability Partnership) Limited” or “LLP” (In case LLP registration).

 

  • NOT SIMILAR TO EXISTING LLP NAME

The name of the LLP shall not be matched & related to the name of an existing LLP & also not related to Trademark already registered.

 

PROCEDURE OF LLP REGISTRATION

  • COLLECTION OF DOCUMENTS.

  1. We send you a checklist of documents required.
  2. Send us a scanned copy of all documents as per the checklist.
  3. We check the documents as per checklist.
  4. All the documents attested & Notarized.

  • PREPARATION OF DIGITAL SIGNATURE CERTIFICATE (DSC).

  1. Fill the DSC application form along with an attested copy of PAN card, Identity proof, Address Proof, Mobile No., & Email id, etc.
  2. Filing of Application with the relevant authority of Digital signature.
  3. Authority sends OTP (One time Password) on Registered Mobile no. & Email Address.
  4. Record the 30 seconds video of the person for which DSC is to be registered.
  5. Download DSC (Digital Signature certificate) in E pass Token.

  • APPLICATION FOR DESIGNATED PARTNER IDENTIFICATION NUMBER (DPIN).

  1. Preparation of Form DIR – 3 for DPIN Number.
  2. Filing of Form DIR – 3 with ROCs (Registrar of Companies) along with requisite fees & Documents.
  3. Download the DPIN Number of proposed Partners of the LLP.

  • APPLICATION FOR NAME APPROVAL.

  1. The LLP name suggested by the Proposed Partners of the LLP.
  2. The name should be as Limited Liability Act, 2008 & relevant rules & regulations for LLP name.
  3. The Proposed LLP name shall be Unique & contain word related to its business Activities, not related to any trademark.
  4. The name of the LLP is suggested by Partners or . for LLP registration is checked by our professional teams.
  5. Preparation of Form 1 & filing with relevant authority along with the fees of INR 1000.
  6. The name approved by the relevant authority after checking all legal provisions.
  7. The Unique Proposed LLP name is valid for 20 days.

  • PREPARATION OF LLP REGISTRATION DOCUMENTS.

  1. Collection of All documents as per checklist for LLP registration.
  2. All Documents are attested & Notarized.
  3. Check eligibility criteria for proposed Partners.
  4. Preparation of Affidavit & Declaration of the proposed Partners.
  5. Preparation of LLP Agreement.
  6. The identity proof (Voter id / Driving License / Passport) & Address proof not older than 2 months (Bank statement / Mobile bill / Electricity bill / Telephone bill) shall be attested by all the proposed Partners.

  • PREPARATION OF LLP FORM 2.

  1. The details fill in Form 2 of the proposed LLP & other important Information.
  2. Attachment of Identity proof & Address proof of the proposed partners.
  3. Attachment of LLP registered office documents.
  4. Scrutiny of the application form by the team of our professional.
  5. Attach the DSC (Digital Signature Certificate) of Practising professional & Designated Partner for proposed LLP registration.

  • APPLICATION FOR PAN & TAN.

  1. Application of PAN no. & TAN no.along with details like Area code of registered office, Rent agreement, etc.
  2. The relevant authority shall issue the PAN card & TAN certificate after LLP registration.

  • FILING OF LLP REGISTRATION DOCUMENTS.

  1. After checking all details & scrutiny done by professional of Form 2.
  2. The Filing of Form 2 with ROCs along with Government fees.
  3. After filing the LLP registration form, the SRN (Service request Number) is generated to check the further status of the application.
  4. Our professional follow up with relevant authority for LLP registration.

  • GET LLP REGISTRATION CERTIFICATE.

  1. The ROCs check all details of LLP registration.
  2. The LLP Registration certificate ( Form 6) is issued by the ROCs.

  • FILING OF LLP AGREEMENT (FORM 3).

  1. After LLP registration, we need to file LLP Form 3 (LLP Agreement) with ROCs.
  2. This form is filed after LLP registration.
  3. The Partner needs to make payment of stamp duty on the contribution amount made for LLP registration.

  • FILING OF PARTNERS DETAILS (FORM 4).

  1. This form is filed along with Form 3 (LLP Agreement) after LLP registration.
  2. Form 4 include the details of Partners, Designated Partner, Change in partners & etc.
  3. This form signed by the 1 Designated partner & 1 PCS/PCA/PCWA.

  • DELIVER INCORPORATION KIT

The incorporation kit of the LLP contains the following Documents are:-

  1. Name approval certificate.
  2. DPIN of Partners.
  3. DSC of all Partners.
  4. LLP Agreement.
  5. A hard copy of Form 2.
  6. A hard copy of Form 3 & 4.
  7. A hard copy of attachment of LLP Form 2.
  8. A hard copy of attachment of LLP Form 3 & 4.
  9. Copy of PAN card.
  10. Copy of TAN Certificate.
  11. Original Certificate of LLP registration.

FAQs RELATED TO LLP REGISTRATION

  • How many Partners required for LLP registration?

We need a minimum of 2 Partners & no limit for maximum Partners but 1 of them act as a Designated partner.

  • Can a Partner & Designated Partner be the same person?

Yes, Partner & Designated Partner can be the same person but the Partner of the LLP can be Natural person or Artificial person.

  • Body Corporate / LLP / Organization can be a member of the LLP?

Yes, Individual or organization can become a Partner of the LLP.

No, The fees recovered by our organization is inclusive of all professional. government & Other charges. we will provide you invoice with a proper bifurcation of charges paid at the time of LLP registration.

  • Are we need to physically visit any government department for LLP registration?

As on date LLP registration is a 100% online process. The Partners is not required to visit any government department for LLP registration.

  • Estellaconsultancy.com helps us in the opening of an LLP bank account after LLP registration?

Yes, The Estellaconsultancy.com provides all service to its customers from name application to LLP bank account opening.

  • How much time taken by Estellaconsultancy.com to complete the whole process of LLP registration?

Normally, Estellaconsultancy.com register your LLP with 12 working days from receipt of all documents for LLP registration.

  • There is an educational qualification is required to become Partner of the LLP?

No, there is no education qualification is required to become Partner of the LLP but the person can do a contract to become Partner of the LLP.

  • Can one person form an LLP?

No, In this case, the person needs to appoint one family member or relative as a partner and hold the whole holding in LLP.

  • NRIs/Foreign Nationals can become a Partner in LLP?

Yes, NRIs/Foreign Nationals can become a Partner in LLP but they all have DPIN (Designated Partner Identification Number).

  • Can an LLP be required to have a registered office for LLP registration?

Yes, It compulsorily to have registered office for LLP registration.

  • The working person can form an LLP and become its Partner?

Yes, a Working person can form an LLP and become its Partner.

  • Can Foreign Direct Investment (FDI) be done in the LLP by foreign nationals?

Yes, LLP invites Foreign Direct Investment (FDI) in the LLP by foreign nationals but required to inform RBI for such transaction.

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