Limited Liability Partnership (LLP) Registration
Company registration is one of the most important decisions for any entrepreneur or business owner looking to operate commercially and legally in India. Among the various types of business entities, the Limited Liability Partnership (LLP) stands out due to its unique benefits, making it an ideal choice for small to medium-sized businesses. LLP registration in Delhi involves completing a series of legal formalities to establish your firm.
It combines the flexibility of a partnership with the liability protection of a limited liability company, offering a secure yet adaptable business structure. If you’re seeking to register an LLP, you’re in the right place to get expert guidance.
Benefits of LLP Registration in Delhi
Many benefits come with the registration of LLP in Delhi:
- LLR registration offers many advantages. This is why it is so commercially attractive to business ventures willing to start their operations in Delhi. The most important advantages among those are listed below.
- It gives flexibility without involving wide legal and procedural formalities.
- The bankruptcy, death, etc of the partner is not a cause to bring an end to the existence of the company.
- Ownership transfer without any legal procedural delay.
- LLP being a juristic person has the right to own and acquire properties.
- It provides the company with professional or technical expertise.
Conditions for Registering an LLP
The registration of an LLP can be done by an individual who could fulfill one of the below conditions:
- Minimum two partners: An LLP must be sponsored by at least two partners. The number of partners is not limited to any maximum.
- Designated Partners: One of the two partners must be an Indian resident and there must be, at least one. one designated partner who handles the day-to-day activities of this business.
- Individuals or Companies: LLPs can have individuals and organizations as partners. Foreign citizens or foreign organizations can also become partners in an LLP.
- Legal Capacity: Partners are required to be under the common law competent to enter into agreements and carry on business under the Indian legal system.
Step-by-Step Process of LLP Registration in Delhi
All the steps of LLP registration in Delhi can be divided into a few evident steps:
Obtain Digital Signature Certificate (DSC): First of all, the DSC for all the nominated partners needs to be obtained before the LLP registration. As all the forms and documents need to be digitally signed while filing the online registration, a valid DSC is mandatory.
Apply for Director Identification Number (DIN): Every appointed partner should apply for a DIN. This is the DIN issued by the MCA for those applications to act as partners or directors in any such company or LLP.
Name Approval: One needs to first select a name for his LLP before he submits the application for registration.
Prepare LLP Agreement: LLP Agreement means the terms and conditions that will govern the relationship of the partners with each other comprising roles and duties, and profit-sharing ratio, amongst others. Such an LLP Agreement has to be signed by all the partners and needs to be filed before the MCA.
File LLP Incorporation Forms: Once the name is approved and an agreement is finalized, the LLP incorporation documents need to be filed online with the Ministry of Corporate Affairs (MCA) at the LLP portal.
These are:
- Form FiLLiP (Form for Incorporation of LLP)
- LLP Agreement Form 3
Obtain Certificate of Incorporation: The MCA, upon receiving your forms and documents, will process the application. In case everything seems correct, the MCA will issue a Certificate of Incorporation for your LLP. This is your proof that your LLP has been successfully registered.
Register for Taxes: After incorporation, it is your LLP’s duty to register itself for GST if required. It also needs a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN).
Cost of LLP Registration in Delhi
The cost of LLP registration in Delhi depends on the services opted for and whether a professional will do it. The following are some typical costs:
- Government Fees
- Professional Charges
- Stamp Duty charges
- Other Miscellaneous Expenses
The total cost of LLP registration is between INR 7,000-15,000 exclusive of professional fees if you are taking a consultant’s services.
Documents Required for LLP Registration in Delhi
The following documents are filed to get the LLP registered:
For Partners (Individuals):
- Proof of Identity: PAN Card, Passport, Voter ID, or Aadhaar Card.
- Proof of Address Utility bill not older than 2 months, Bank statement, or Rental Agreement.
- Photograph: A current passport-size photo.
- DIN -Director Identification Number.
For Partners (Companies):
- A certificate of incorporation of the company.
- Board Resolution resolving to nominate the company as a partner in LLP.
For Registered Office:
- No Objection Certificate from the owner of the premises, in case of renting the office.
- It also includes the utility bills.
Ideal Person to Register an LLP in Delhi NCR
The ideal candidates who would register an LLP in Delhi include
- Entrepreneurs: A person having a penchant to start up based on limited liability protection.
- Owners of Small and Medium-Sized Enterprises: Owners are those person who wants to enjoy the benefits of partnership at the limited liability.
- Professionals: Any C.A., LAWYERS, or architecture can also start their businesses.
How Legals Expert Can Help with LLP Registration
A legal advisor can be very useful while planning the India LLP registration, particularly in a dynamic and highly regulated environment like Delhi. This is how they can help you.
- Expert Guidance: The legal experts can give you the best advice related to the documentation process, and evaluation of the bank account process. We make sure that your registration process goes smoothly.
- Drafting the LLP Agreement: We help you resolve all the disputes, and profit share losses, and register to the office laws.
- Tax and Compliance Advisory: The tax plays a major role in the LLP agreement, so we make sure that your LLP registration process goes according to the local and central tax law.
- Minimize Errors: We double-check every document before submitting it to the higher authorities so that we can minimize the errors as much as possible.
- Ongoing Legal Support: As legal experts, we never leave anyone in the middle of the LLP registration process but we help the clients in their legal work.
Frequently Asked Questions
Ans: Yes, a single registration in Delhi allows an LLP to operate from multiple states. This is the most convenient and profitable for business purposes.
Ans: Yes, Legal Expert is providing complete services for LLP registration in Delhi which are:
- covering documentation
- Filing
- compliance.
Ans: Even foreigners can be partners to an LLP in India; still, one of the partners must be a resident of India.
Ans: Legal expert is the most trusted and reputed association and this can also help you to get registered to the LLP very easily.
Ans: The basic LLP registration fee is 9,499 for the 2 members and then you have to pay then you have to pay the 1 lakh authorized capital, and stamp duty fees.
Ans: The usual time for registering to the LLP is 7-10 days and it also depends on the document validation by the higher ministry.