Limited Liability Partnerships (LLP)
BEST SUITED FOR
- Professional services
- Firms seeking any capital contribution from Partners
- Firms sharing resources with limited liability
Benefits of LLP Company Registration
- Limited liability protection for partners, safeguarding personal assets.
- No minimum capital requirement, making it cost-effective.
- Fewer compliance requirements compared to Private Limited Companies.
- No restrictions on the number of partners.
- Tax advantages, as LLPs are not subject to dividend distribution tax (DDT).
Process
1
Obtain Digital Signature Certificate (DSC)
Required for all designated partners to sign documents online.
2
Reserve LLP Name via RUN-LLP
File name reservation request with MCA. Ensure name follows LLP Naming Guidelines.
3
File FiLLiP Form (Incorporation Form)
Fill incorporation details, add partners, upload required documents.
4
LLP Agreement Execution & Filing
Draft and execute the LLP Agreement within 30 days of incorporation and file it in Form 3.
5
Receive Incorporation Certificate with PAN & TAN
MCA will issue the Certificate of Incorporation along with PAN and TAN automatically.
6
Open Bank Account
Use COI, PAN, and LLP Agreement to open a business current account.
Required Documents
- PAN & Aadhar of partners.
- Address proof (utility bill, rent agreement, latest 2 months bank statements, etc.) for partners
- Proof of registered office address (rent agreement and NOC from the owner)
- Passport-size photographs of partners.
- Email ID and mobile number of partners
- Brief description of the LLP's business activities