At Ahuja & Ahuja Chartered Accountants, we provide expert LLP Registration services to clients in New Delhi, Noida, Gurugram (Gurgaon), and Greater Noida. Our experienced and knowledgeable Chartered Accountants have over two decades of industry experience, ensuring that your LLP formation process is handled smoothly and efficiently.

LLP Registration in India became popular after the enactment of the Limited Liability Partnership Act in the year 2008. Many start-ups and small businesses prefer LLPs over traditional forms of partnerships and companies because it offers the advantages of both. LLPs limit the liability of its partners, which is an advantage to Micro and Small enterprises.

LLP Registration Process

Our LLP registration process is streamlined and efficient, ensuring that you can start your business operations as soon as possible. Our expert team will guide you through the LLP formation process, including:

  1. User Registration: The first step is to register on the website of Ministry of Corporate Affairs, developed for LLP services, i.e. Fill in the registration form and upload the digital signature certificate.
  2. Obtain Designated Partners Identification Number (DPIN): All designated partners of the proposed LLP need to obtain “Designated Partner Identification Number (DPIN) / Director Identification Number (DIN)”.
  3. Digital Signature Certificate: Partner/Designated partner of LLP/proposed LLP, whose signatures are to be affixed on the e-forms has to obtain class 2 or class 3 Digital Signature Certificate (DSC) from any authorized certifying agency.
  4. Reservation of name: Next step is to reserve name of LLP. Log on to the LLP portal, after login, click “E-Forms” link. Open Form-1 for reservation of name and fill in the details. Select name of the proposed LLP (upto 6 choices can be indicated). Once form is submitted it need to be approved by ROC.
  5. Incorporation of LLP: Once the name is reserved by the Registrar, log on to the portal and fill up Form-2 “Incorporation Document and Statement”. Pay the prescribed registration fee as per the slab given in Annexure A of the LLP Rules, 2009. The statement in the e-form is to be digitally signed by a person named in the incorporation document as a designated partner having permanent DPIN and also to be digitally signed by an advocate/company secretary/chartered accountant/cost accountant in practice and engaged in the formation of LLP.
  6. Filing of LLP agreement (Form-3) and Partners’ details (Form-4): Final step is filing of LLP Agreement and LLP Partner’s Detail. For that you need to file Form 3 (Information with regard to LLP agreement and changes, if any made therein) and Form-4 (Notice of Appointment of Partner/ Designate Partner, his consent etc.) with the prescribed fee simultaneously at the time of filing Form-2 or within 30 days of the date of incorporation or within 30 days of such subsequent changes.

Once all the forms are duly filled and submitted along with the necessary fees, the Registrar will register the LLP, maximum within 14 days of filing of Form-2, and issue a certificate of incorporation in Form-16. It is advisable to keep checking the status of your application by logging on to the portal.

Benefits of Forming an LLP

There are many benefits to running a business by constituting as an LLP, including:

  • Dual advantages- Partnership with features of a company
  • No partner can be responsible for another partner’s misconduct
  • Less expensive to incorporate than a private limited company
  • Limits the liabilities of its partners
  • Can raise funds from partners, banks, and NBFCs
  • Flexible agreement

LLP Formation Online

At Ahuja & Ahuja Chartered Accountants, we provide online LLP formation services to clients who prefer a more convenient and hassle-free process. Our online LLP formation services include:

  • Consultation with our expert team
  • Obtaining a Digital Signature Certificate (DSC) for the designated partners
  • Applying for Director Identification Numbers (DIN) for the designated partners
  • Filing the LLP registration application with the Registrar of Companies
  • Drafting the LLP agreement
  • Obtaining the Certificate of Incorporation for the LLP

LLP Formation Documents

We provide comprehensive assistance with all the LLP formation documents required for LLP registration, including:

  • Preparation of the LLP agreement
  • Drafting the LLP registration application
  • Filing of various forms and documents required for LLP registration
  • Obtaining the Certificate of Incorporation for the LLP

FAQs About LLP

How many designated partners are required to start an LLP? What is the maximum limit?

At least two designated partners (individuals) are required to start an LLP in India, and one of them must be a resident of India. There is no limit to the maximum number of partners.

What if the number of designated partners in an LLP gets reduced to 1?

If the number of partners in an LLP falls below two, the remaining partner must bring in another partner within six months. Otherwise, the existing partner will be personally liable for all the obligations related to that period.

Can a partner contribute in kind instead of cash?

Yes, according to the governing act, a partner can contribute in any form, whether tangible or intangible. Thus, a partner can bring his contribution in kind.

Can a company, LLP, or partnership firm become partners in an LLP?

Yes, a company and an LLP can become partners in an LLP. However, a partnership firm is not allowed to become an LLP partner.

Can a non-resident incorporate an LLP in India?

Yes, a foreigner can establish an LLP in India. However, one of the designated partners must be a resident of India.

Can a foreign LLP establish its business in India?

Yes, a foreign LLP can establish its business in India by filing LLP Form 27 (Form for registration of foreign LLP in India) with the registrar within 30 days of setting up its business in India.

Is there any need to apply for DPIN if a person already has a DIN?

If a person already has a Director Identification Number (DIN), there is no need to apply for a Designated Partner Identification Number (DPIN) separately. The DIN will serve as the person’s DPIN as well.

Can a company or partnership firm convert itself into an LLP?

Yes, a partnership firm, a private company, and an unlisted public company can convert themselves into an LLP.

Can an LLP have charitable or non-profit objectives?

No, an LLP can only have objectives related to earning profit. An LLP cannot operate for charitable purposes.

Can an LLP be converted into a private or public limited company?

No, an LLP cannot be converted into a private or public limited company. However, it can be wound up or dissolved according to the provisions of the LLP Act, 2008.

How is an LLP taxed?

An LLP is taxed like a partnership firm, with the partners being taxed individually for their share of the profits. An LLP is not liable to pay tax on its income.

Are there any annual compliance requirements for an LLP?

Yes, an LLP must file an annual return with the Registrar of Companies, along with the statement of accounts and solvency. The LLP must also have its accounts audited if its turnover exceeds Rs. 40 lakhs or if the contribution of partners exceeds Rs. 25 lakhs.

Can an LLP take a loan from its partners?

No, an LLP cannot take a loan from its partners. However, a partner can contribute capital to the LLP in the form of a loan, subject to certain conditions.

Can an LLP issue shares to its partners?

No, an LLP cannot issue shares to its partners as shares are only issued by a company. However, an LLP can create a new class of interests for its partners that are akin to shares.

Can an LLP have branches in multiple locations?

Yes, an LLP can have branches in multiple locations within India or abroad, subject to compliance with local laws and regulations.

Summary: LLP Registration / Formation Services

By forming an LLP, businesses can enjoy the dual advantages of a partnership with the features of a company, limit the liabilities of its partners, and raise funds from partners, banks, and NBFCs. We at Ahuja & Ahuja Chartered Accountants provide expert LLP Registration services for clients in New Delhi, Noida, Gurugram (Gurgaon), and Greater Noida.

Our streamlined and efficient LLP formation process, handled by experienced and knowledgeable Chartered Accountants, ensures that your business operations can start as soon as possible. Trust us for your LLP registration needs and experience the benefits of partnering with a reliable and efficient team. Contact us today to learn more about our LLP Registration Services and how we can help you start your business operations.