Limited Liability Partnership Registration in India, Fees & Consultants (Top 10)

The Incorporation Process for Registering a LLP in India

Step 1: Obtaining Digital Signature Certificate (DSC)

All the proposed partners are expected to use Digital Signatures to ensure authenticity and security of the e-documents. You need to provide photograph, address proof, and PAN card apart from signature on the forms.  You will be able to acquire a Digital Signature Certificates (DSC) in 5 to 7 days from authorised Certified Agencies.

Step 2: Obtaining Director Identification Number (DIN)

DIN or Director Identification Number is an unique identification number given to directors. You will be able get the DIN within 5 to 7 working days.

Step 3: Name Approval

Next, you must submit at least one and a maximum of six proposed names to the Registrar of Companies (ROC). Depending on availability, compliance to naming guidelines and the standard process time by the ROC, your name approval should take another 5 to 7 days.

Step 4: Incorporation Documents Submission

Finally, you and/or your partners must submit their incorporation documents to the ROC along with an application for the incorporation. Subject to processing time, your application may be approved within 5 to7 days.

The Important Documents Required to Submit to Form a LLP Company

You need to required to submit following documents to register a LLP in India. All the documents mentioned are mandatory:

• PAN of the Directors
• Address Proof (copy of Passport/ Voter's ID/ Driver's License/ Bank Statement)
• Passport Size Photo
• Address Proof of the place of business (copy of the rental agreement or electricity bill)

Advantages of Limited Liability Partnership Registration in India

●      Limited Liability

The most obvious benefit of a LLP is the limited liability that the partners enjoy. In case of a sole proprietorship or partnership business, the personal assets of the owner(s) are at risk in case of errors, failure or negligence. In case of an LLP, the company simply becomes insolvent and closed down. The assets of the LLP are used to pay back the debts.

●      No Need for Audit

No audit is required in case of an LLP with exceptions. If the capital exceeds INR25 Lakhs or if the turnover exceeds INR 60 lakhs, these are the only scenarios when the LLP is expected to undergo an audit.

●      Independent Legal Status or Entity

An LLP is considered to be a legal entity or a juristic person established under the Limited Liability Partnership Act of 2008. This means that an LLP is taken more seriously than a sole proprietorship or partnership. This gives customers, vendors and other stakeholders a sense of confidence, hereby opening doors to growth