Limited Liability Partnership (LLP) Registration
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What is Limited Liability Partnership (LLP) Registration?
Limited Liability Partnership (LLP) was first introduced in the Limited Liability Partnership Act of 2008. The reason it was introduced was to provide a form of businesses that was easy to maintain and it helped owners by providing them with limited liability.
The advantage of opting for a Limited Liability Partnership over the traditional Partnership Firm is that an LLP gives each partner limited liability. This means that one partner is not responsible for the conduct and negligence of another partner. This is similar to what shareholders enjoy. Another feature is that in an LLP, all partners have the right to manage the business directly.
Registering an LLP is one of the most easiest process in India. The compliance and procedures are simple and take a short time to complete. This is the prime reason that many are opting for this kind of business, especially small and micro business. Vakilsearch is a top leader in Limited Liability Registration. It helps customers complete the process in 20 days and assures them of quality service. Apart from LLP registration, Vakilsearch can also help you with company registration, business registration, private registration and a host of other corporate services. For more details, schedule an appointment with one of our consultants today and they will help you take the procedure of an LLP forward.
LLP Registration Process
The LLP Registration Process is similar to the Private Limited Company incorporation procedure, except for a few minor things. The process is fairly simple and you can do it online. WIth Vakilsearch, you can get the entire process done in just 20 days. Our experts will guide you the necessities and all the things you need to know about LLP Registration.
VakilSearch can help you get your LLP Registration done in all leading metro cities of India. For your reference, a detailed explanation of the process is mentioned below.
OBTAINING DSC AND DIN
The first step is to obtain DSC of the desired partners of the Limited Liability Partnership. The reason for this is that all the forms need to be submitted online and require the directors digital signatures.
The law also requires that all directors file for a DIN number. The application has to be made in Form DIR- 3.
APPLICATION FOR NAME APPROVAL
This process involves registering the LLP. Before you do this, you would need to see if the name is already taken. You can check on the free search facility on the MCA portal. The registrar only approves LLP names that are not taken before.
MOA AND AOA SUBMISSION WITH MCA
The next step is to fill the MOA and AOA with the MCA. You need to fill up the form 2 citing all the details correctly. The form also required one DIN of any of the directors mentioned in the form. The procedure takes 15 days to complete.
LLP INCORPORATION CERTIFICATE
Once the registrar approves your MOA and AOA, you’re steps closer to getting your LLP registered. The next step is to get the LLP Incorporation Certificate. You can do by submitting all documents to the registrar. The time frame is between 2- 12 days. Once you get your LLP Incorporation Certificate, you’re ready to go.
APPLY FOR PAN & TAN & BANK ACCOUNT
As soon as you get the incorporation certificate, you need to apply for your company PAN & TAN with the NSDL. The cost for this procedure is less than Rs.200 and it takes around three weeks to get done.