Tag: llp registration in delhi

While Limited Liability Partnerships Registration (LLPs) are corporate company arrangements, they contain the finest traits and advantages of both companies and partnerships. They include restrictions on owners’ liability, a separation of management from ownership, and a requirement for registration. Professional know-how and entrepreneurial spirit can work together in this way to operate in a flexible, creative, and effective way.

The LLP agreement, a document signed by all of the partners and containing all the terms and conditions mutually agreed upon by them, is what determines whether an LLP is a partnership firm or not. The LLP Agreement contains information about the partners’ capital contributions, their rights and obligations, the profit-sharing percentage, and the process for admitting and dismissing partners.

What prerequisites must be satisfied before establishing or going for an LLP registration online?

You must first satisfy the following requirements in order to  LLP registration online Done:

• A number of partners: At least two partners are required to register an LLP. The number of partners that an LLP may have, however, is not capped.
• Minimum Prescribed Capital: There is no required minimum capital to establish an LLP. For the firm to run well, the partners must inject enough money, though.
• The number of designated partners is: The partners of an LLP are not required to oversee the operation of the company, in contrast to the partners of a partnership firm. The minimum number of chosen partners for this purpose is two, with at least one of them having to be an Indian resident. A firm may have a maximum of fifteen Designated Partners.
• Name: The name of the LLP must be distinctive, unique, and not the same as the name of another LLP or firm that already exists. A registered trademark or a trademark application must not be identical to the name. To learn more about choosing a name that is appropriate for an LLP, read our blog post on name standards.
• Before beginning the process of its establishment and registration, the LLP must have a registered address for its principal office or place of business.

What advantages come with LLP Registration in India?

To benefit from both types of company organizations, Limited Liability Partnerships (LLP) combine the greatest traits of private limited companies and partnership firms. The list of all such advantages that come with LLP Registration in India can be found below.

• Partners’ liabilities are restricted in the proportion that has been mutually agreed upon.
• An LLP has a distinct legal character as a result of its registration or incorporation.
• Due to the fact that it has a distinct legal personality, an LLP is able to make transactions and open bank accounts in its name.
• An LLP can be created for less money than a business.
• Less compliance is necessary for an LLP than for a Private Limited Corporation.

What paperwork is necessary for Online LLP registration in India?

Documents of all partners, paperwork for the applicant’s designated partner, documents for the registered company address, and other legal draughts can all be classified as necessary for LLP registration. All of the paperwork required for Online LLP registration in India is mentioned here. Your LLP registration application form may be rejected if any of these documents are missing.

Documents for Partners and Designated Partners

Evidence of Partners’ Identity

All partners, including the applicant’s chosen partner, are required to present one of the following documents as identification:

• Passport Voter ID
• driving permit
• ID card, Aadhar

The PAN cards of all partners are necessary for the incorporation of the LLP in addition to the ID evidence. Make sure the paperwork is accurate and up-to-date before submitting them to the Registrar of Companies for the establishment of the LLP.

Proof of Partners’ Address

The PAN cards of all partners are necessary for the incorporation of the LLP in addition to the ID evidence. Make sure the paperwork is accurate and up-to-date before submitting them to the Registrar of Companies for the establishment of the LLP.

• Account Statement
• Notably, none of them should be older than two months. Power. Telephone. Water.

Photograph A passport-sized, well-colored photo with a white background must be submitted by each partner as well as the applicant’s designated partner.

Passport The spouse must present his passport as identification proof if he or she is a non-resident Indian or a foreign national. This document must be notarized and apostilled by the relevant authorities or the Indian Embassy of the country where the foreign national or NRI is based.

Documents pertaining to the LLP’s registered offices

• Before starting the process of formation, an LLP must have a registered address for its principal office or place of business. However, within 30 days after the date of incorporation, it must have a registered office address and notify the Registrar of Companies in form INC 22. If it doesn’t have a registered office location, it can still proceed with incorporation with a temporary address.
• The rent agreement and the owner’s no objection certificate must be supplied during the LLP registration process if the registered office is rented. The LLP may not use the facility as its “registered office” without the landlord’s consent.
• Moreover, any of the following utility invoices that are no older than two months can be provided as proof of address: a gas, electricity, telephone, or water bill.

Certificate for Digital Signature (DSC)

A digital signature certificate must be used to sign the LLP registration application online. Only the signatory designated partner is required to have a DSC before the LLP may be registered because the application for LLP registration can be signed by any designated partner who is permitted to do so, as well as by any or all of the partners. The digital signatures of partners may also be required on a number of forms and applications after registration, though. Hence, getting a DSC for future use is encouraged for all partners and authorized partners.

Step-by-step LLP registration procedure followed for LLP Registration Online In India 

The following are the actions to take in order to get LLP Registration Online In India Done:

• getting the applicant’s selected partner’s DPIN and DSC
• To minimize any headache or difficulty during the registration process, gather all the documents needed for LLP registration in advance.
• A Limited Liability Partnership must be registered (new registration).
• Using Form 1 or the RUN application, reserve the LLP’s name.
• Form 2 must be completed and submitted along with the other documentation for LLP registration.
• Create and sign the LLP Agreement after the LLP is registered, then submit it within 30 days after the registration date.

Conclusion

Due to its formal incorporation, an LLP Registered in India has a separate legal existence and is entirely responsible for upholding its commitments. In an LLP, the partners’ rights and obligations are defined by mutual agreement. The process for forming an LLP and the necessary paperwork has previously been described above.