LLP Registration
An LLP combines the limited liability protection of a company with the operational flexibility of a traditional partnership. Governed by the LLP Act, 2008, it is the ideal vehicle for professional service firms (agencies, consultants, architects) and family-run businesses that do not intend to raise venture capital.
Key benefits
- Limited Liability: Partners are not personally liable for the debts of the LLP or the negligence of other partners.
- No Statutory Audit Below Thresholds: Audit is not required until annual turnover exceeds ₹40 Lakhs or capital contribution exceeds ₹25 Lakhs.
- Zero Dividend Distribution Tax (DDT): Profits distributed to partners are entirely tax-free in the hands of the partners.
- No Board Meetings: Free from complex corporate compliance (no mandatory board meetings, AGMs, or minutes book maintenance).
- Flexible Agreement: Profit-sharing, voting rights, and capital contributions are entirely governed by a private LLP Agreement.
- Fewer ROC Filings: Only two annual forms (Form 8 and Form 11) need to be filed with the MCA.
- FDI Allowed: 100% FDI is permitted under the automatic route for LLPs operating in sectors where 100% FDI is allowed.
Documents required
- PAN Card for all designated partners.
- Identity Proof (Aadhaar/Voter ID/Passport) for all partners.
- Address Proof (Bank Statement/Utility Bill not older than 2 months) for all partners.
- Passport size photographs of all partners.
- Registered Office Proof: Utility bill (Electricity/Water) in the name of the owner.
- Registered Office Proof: Rent Agreement and NOC from the landlord.
- DSC (Digital Signature Certificate) for all designated partners.
How it works
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1
Name Availability
Filing RUN-LLP to reserve the proposed name, ensuring it complies with MCA guidelines and doesn't infringe existing trademarks.
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2
DSC Procurement
Generating Class 3 DSCs for all designated partners required for digital filing.
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3
FiLLiP Filing
Filing the main incorporation document (FiLLiP) with the Registrar of Companies.
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4
Incorporation Certificate
Issuance of the Certificate of Incorporation along with LLPIN.
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5
PAN & TAN Application
Applying for the Permanent Account Number and Tax Deduction Account Number offline or via NSDL (as integrated forms are still evolving for LLPs).
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6
LLP Agreement Drafting
Our legal team drafts a comprehensive LLP Agreement detailing rights, duties, and profit-sharing.
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7
Form 3 Filing
Filing the signed LLP Agreement with the MCA via Form 3 within 30 days of incorporation.
Frequently asked questions
Can an LLP raise Venture Capital?
No. VCs and angel investors require equity shares, which an LLP cannot issue. If you plan to raise institutional funding, register a Private Limited Company.
What is a Designated Partner?
Every LLP must have at least two Designated Partners who are individuals, and at least one must be a resident of India. They are responsible for regulatory compliance.
Can a Private Limited Company be converted to an LLP?
Yes. Unlisted private companies can be converted into LLPs to reduce compliance burden, provided there are no pending security interests (loans).
Are LLPs cheaper to maintain?
Yes, significantly. Without the burden of mandatory statutory audits (below thresholds) and quarterly board meetings, annual compliance costs are generally 40-50% lower than a Pvt Ltd.
What happens if we delay filing Form 3 (LLP Agreement)?
Filing Form 3 within 30 days is mandatory. Delay attracts an exorbitant late fee of ₹100 per day with no upper cap.