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LLP Registration

  • Over the years, SPARKS & AssociatesChartered Accountants firm in Noida have been recognized as creditable service provider for setting up business in India. The initial phase for any business set-up is to decide on the form of business. Out of many form of doing business, Limited Liability Partnership (LLP) is one of the best options for those who want to do partnership business in India in corporate structure with separate legal entity status.
  • Incorporation of Limited Liability Partnership is the first phase of starting of a business which requires compliances with all applicable legal requirements. Limited Liability Partnership registration in India is governed by the Ministry of Corporate Affairs, Limited Liability Partnership Act, 2008 and Limited Liability Partnership Rule, 2009 and amendment there afters. To register a LLP, a minimum of two Designated Partner/Directors are required.

    BENEFITS OF LIMITED LIABILITY PARTNERSHIP:

    • Separate Legal Entity;
    • Perpetual Existence;
    • Limited Liability on the Partners;
    • Less compliance in comparison to Private Company
    • No requirement of minimum capital contribution

    HOW TO REGISTER A LIMITED LIABILITY PARTNERSHIP

    Step 1: Obtain Digital Signature of Designated Partner:

    Step 2: Obtain Director Identification Number (DIN):

    Step 3: Reservation of Name:

    LLP-RUN (Limited Liability Partnership-Reserve Unique Name) is filed for the reservation of name of proposed LLP which shall be processed by the Central Registration Centre under Non-STP. There is a provision to provide for 2 proposed names of the LLP. The registrar will approve the name only if the name is not undesirable in the opinion of the Central Government and does not resemble any existing partnership firm or an LLP or a body corporate or a trademark. If any of the proposed name is approved by the register, the same will be reserved for a period of 60 days by the register. 

     Step 4: Application for LLP formation and registration in Form FiLLiP (Form for incorporation of Limited Liability Partnership): 
    Successful filing of FiLLiP on payment of prescribed fee and Stamp Duty, a Certificate of Incorporation containing the name of the company, date of incorporation and PAN of the company will be communicated. The same form is also enabling allotment of DPIN or DIN to two new designated partners.

    Step 5: File Limited Liability Partnership Agreement: 
    LLP agreement governs the mutual rights and duties amongst the partners and also between the LLP and its partners. The LLP Agreement has to be filed within 30 days of its incorporation in Form 3. The LLP agreement is printed on stamp paper of the value as applicable in the respective states. 

    Step 6: Documents required for incorporation of LLP

    • For Designated Partner:
    • For LLP:
      • PAN Card/ ID Proof of the Partners
      • Address Proof of the partners
      • Residence Proof of Partners
      • Photograph
      • Passport (in case of Foreign Nationals/ NRIs)
      • Proof of Registered Office Address
      • Digital Signature Certificate

    We at SPARKS provide the incorporation services with quick turnaround time. The average time taken to complete LLP formation is about 7 to 12 working days subject to client documents and processing time taken by government. You can call us or visit our office which is conveniently located in Noida for initial consultation on incorporation of your Limited Liability Partnership (LLP).

 
 
 
 
 
 
 
 
 
     
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