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Timeline for LLP Registration
The timeline for LLP registration depends on various factors, including completing various key legal formalities:
Day 1-3
Designated partners must apply for a Digital Signature Certificate (DSC) & Director Identification Number (DIN).
Day 4-6
Reserving business name through RUN-LLP form on MCA portal & filing FiLLiP form to obtain Certificate of Incorporation.
Day 7-10
Drafting & filing LLP Agreements, obtaining PAN & TAN & completing post-registration compliance requirements.
LLP Registration in India – An Overview
Are you an entrepreneur considering LLP registration in India but are confused about the registration process? We
understand that LLP registration can be an overwhelming experience, and help you manage a streamlined
registration one of India's most popular business structures. Entrepreneurs in India prefer LLP as it offers a
unique combination of the benefits of a partnership and a company.
A limited liability partnership is governed by the LLP Act that was introduced in 2008 to address the needs of
businesses aiming for operational flexibility and minimal compliance requirements. At Corpfilings, we help you
register LLP with at least two partners with no upper limit to the same. One of the most significant benefits of
LLP registration is that it continues to exist even when the partners exit or change. This feature makes it a
better alternative to a traditional partnership.
However, to register an LLP, one of the two designated partners must be an Indian resident. We help you
understand the LLP Act, which includes the rights, duties and responsibilities of all the partners. We also
assist designated partners in meeting legal compliance defined in the LLP Act. These features make LLP an ideal
business structure for entrepreneurs, giving flexibility, liability protection, and streamlining regulatory
needs. Let Corpfilings help you register and start your LLP business in India from anywhere, anytime.
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Features of LLP Incorporation in India
LLP incorporation in India is one of the most preferred business structures owing to the combined features of a
partnership and corporate entities. LLP incorporation is governed by the LLP Act, 2008 in India, which offers
flexibility of management and limited liability for its partners. Key features of LLP registration in India
include the following:
Separate Legal Entity:
An LLP is a body corporate and a distinct legal entity, facilitating it to own assets and enter into
contracts in its name.
Limited Liability:
The liability of partners in an LLP are limited to the amount contributed to the business in an agreed ratio,
safeguarding their personal assets from business debts and obligations.
Perpetual Succession:
LLPs enjoy perpetual succession and continue to exist despite a change in partners.
No Maximum Limit on Partners:
Businesses need at least two partners to register an LLP, however, there is no cap on the maximum number of
partners.
Flexible Management Structure:
LLP formation allows partners to leverage managerial flexibility in defining their roles and
responsibilities, facilitating efficiency.
Minimal Compliance Requirements:
Incorporation of an LLP does not require adherence to strict compliance, making registration a smooth and
easy process.
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Benefits of Limited Liability Partnership Registration
Limited Liability Partnership registration is a business registration that offers entrepreneurs the much-required
structural flexibility. Limited Liability Partnership registration is a legally valid entity in India that
facilitates limited liability. Unlike other structures, businesses must meet minimal compliance requirements,
enabling a seamless registration process. It is one of the preferred business structures by entrepreneurs owing
to cost-effectiveness, lower risk factors, and uncomplicated formation.
Let us explore the key benefits of Limited Liability Partnership registration, including the following:
An LLP is a legally recognized structure with a separate identity, enabling it to engage in independent
legal transactions.
A limited liability partnership is a structure wherein the business partners enjoy limited liability for
the amount contributed to the business.
Limited liability partnership registration is cost-effective as compared to other forms of company
registration.
LLP formation does not mandate strict adherence to compliance, unlike other business registrations, and
requires two filings annually.
Businesses can register an LLP without any capital contribution as it does not require minimal capital.
Businesses that register LLP enjoy perpetual succession as an LLP does not cease to exist despite
partner change.
Businesses benefit from a streamlined and prompt process with LLP registration online, making its
formation easy.
One of the significant advantages of incorporation of an LLP is that offers structural flexibility and
does not impose restrictions on the number of partners.
Businesses that register limited liability partnerships leverage various tax advantages, including lower
rates than company registrations.
Businesses with limited liability partnership registers enjoy credibility among various stakeholders,
including customers.
Methods for LLP Formation
LLP formation is a type of company registration in India that facilitates limited liability and operational
flexibility. The process includes online filing, meeting legal compliance, and obtaining approvals from the
Ministry of Corporate Affairs. LLP formation can be done via three methods, including:
Online Registration via MCA Portal
Entrepreneurs can choose to apply for LLP incorporation online ̣through the MCA portal, which includes
following the given steps:
Partners must apply for Digital Signature Certificate (DSC).
Obtaining a Director Identification Number (DIN) through the MCA portal.
Reserving LLP business name through RUN-LLP form.
Filing the FiLLiP (Form for Incorporation of LLP) along with the required documents.
Drafting and filing the LLP Agreement with MCA.
Obtaining a Certificate of Incorporation from the Registrar of Companies (RoC).
Through a Professional: CA, CS or Lawyer
Entrepreneurs can initiate LLP incorporation through a professional Chartered Accountant (CA), Company
Secretary (CS), or lawyer. Professionals can assist with managing error-free paperwork and on-time filing.
Through LLP Registration Consultants
Hiring experienced consultants at Corpfilings facilitates a hassle-free process, adherence to compliance, and
end-to-end pre-and-post-registration support.
Legal Requirements for LLP Registration Online
LLP registration online is one of the most preferred types of business structures in India. However, to register
an LLP, businesses must adhere to the mandated legal requirements, which include ensuring the eligibility of the
partners, name approval, submitting documents, and LLP Act, 2008 compliance. Businesses that ensure legal
compliance boost credibility and can operate smoothly without any legal hassles. Key legal requirements mandated
for LLP registration online include the following:
At least two partners are required to register LLP.
Out of the two designated partners to register an LLP, one must be an Indian resident.
LLP Registration mandates partners to secure their Digital Signature Certificate (DSC), which is mandatory
for e-filing.
Designated partners for LLP incorporation must get their Director Identification Number (DIN).
To register a limited liability partnership, businesses should register a unique name, which must be
approved by MCA.
Limited liability partnership registration mandates an LLP Agreement outlining the rights, duties, and
liabilities of the partners.
The limited liability partnership register requires a registered office address to facilitate official
communication.
Filling out Form FiLLiP and getting approval is a must for the incorporation of an LLP in India.
LLP formation mandates meeting annual compliance requirements, including filing and submission of statements
and returns.
LLP registration online demands businesses to register PAN and TAN to facilitate tax requirements.
Documents Required for Incorporation of an LLP
Incorporation of an LLP in India mandates that the partners submit various documents to initiate the registration
process. These documents include identity proofs and address proofs. Let us look at the list of documents that
must be submitted in line with the LLP Act, 2008 below:
Documents Required from Partners to Register LLP:
PAN Card issued by the Income Tax Department.
Aadhar Card issued by UIDAI is essential for identity verification.
Foreign nationals must submit copies of their passports issued by their respective countries.
Voter ID/Driving License issued by the Government of India serves as proof of identity.
Bank Statements/Utility Bills serve as address proof of the partners.
Documents Required to Register an LLP:
Filing RUN-LLP Form for LLP name approval with the MCA.
Notarized LLP agreement duly signed by all the partners.
Rent agreement or NOC (if applicable) or latest utility bills as proof of registered office address.
Digital Signature Certificate (DSC) issued by a certifying authority.
Director Identification Number (DIN) obtained by designated partners from the MCA.
Process to Register LLP in India
The process to register LLP in India is governed by the LLP Act, 2008. While LLPs offer several benefits to
partners, including limited liability and operational flexibility, the process to register LLP follows a series
of steps mentioned below:
Step 1: Obtain a Digital Signature Certificate (DSC)
To initiate the LLP registration process, designated partners must first obtain a Class 3 Digital Signature
Certificate (DSC) from any authorized certifying agency. It is a must to obtain DSC to facilitate the smooth
processing of filing online applications and document submission.
Step 2: Apply for a Designated Partner Identification Number (DPIN)
The next step to register LLP, it is important for designated partners to obtain Designated Partner
Identification Number (DPIN). They must fill out Form DIR-3 and attach copies of their Aadhar and PAN cards.
The application must also be certified by a CA, CS, or Cost Accountant.
Step 3: Name Reservation
The next step in the process to register LLP is to submit the RUN-LLP (Reserve Unique Name – Limited
Liability Partnership) form through the MCA portal. This form is crucial in reserving a unique business name
for the LLP. Selecting a unique name that does not violate any existing business name or trademark is
essential. If the name is rejected, corrections should be made within 15 days.
Step 4: File Incorporation Documents
The next in the process is to submit the FiLLiP (Form for Incorporation of LLP) form along with all the
essential documents, such as identity and address proofs and consent letters. Once the documents are
successfully verified by the MCA, the Certificate of Incorporation (COI) is issued to validate the legal
existence of the LLP.
Step 5: Draft LLP Agreement & Obtain PAN/TAN
After obtaining the Certificate of Incorporation (COI), partners must draft and file the LLP Agreement on
stamp paper within 30 days of receiving the COI. The LLP Agreement must list down the duties and
responsibilities of the partners. Once done, they must also apply for PAN & TAN registrations to
facilitate taxation.
Eligibility Criteria for Your LLP Registration
The set eligibility criteria for your LLP registration depends on the jurisdiction, but these are general
eligibility criteria which can be applied:
The LLP agreement must be filed within 30 days of obtaining a Certificate of Incorporation and filed
using Form 3.
PAN & TAN registration is a must to fulfil tax compliance requirements.
GST registration is necessary if the turnover is more than ₹20 lakh (₹40 lakh for goods).
A business bank account must be opened to facilitate financial transactions.
Maintaining accounting and bookkeeping records as per the LLP Act, 2008, is a must.
Annual filing requirements such as Form 8 for Statement of Accounts & Solvency must be submitted by
30th October, and Form 11 for Annual Return must be filed by 30th May each year.
Income tax returns must be filed by 31st July for non-audit and 30th September for audit cases.
Audit is mandatory if turnover is more than ₹40 lakh or capital contribution is more than ₹25 lakh.
Changes in LLP should be made using Form 4 for partner changes and Form 5 for name change.
It is important to meet Labour Law compliance through PF, ESI, and professional tax (if applicable).
Partner with Corpfilings for LLP Registration in India
Corpfilings ensures comprehensive business solutions for LLP registration in India. We are a team of hard-working
and dedicated professionals with expertise and experience in LLP registration.
Corpfilings is a large team committed to delivering customer-friendly solutions, ensuring a 99.5% retention rate.
We have registered 100+ LLPs in the last financial year. We offer expert guidance, hassle-free paperwork
assistance, and compliance support.
Offer LLP name search and approval assistance to prevent rejections.
Expedite seamless DSC and DPIN processing to avoid delays.
Successfully registered 500+ LLPs in India.
Manage 100% accuracy with FiLLiP form filing and submission.
Draft and customize the LLP agreement aligning with business and legal needs.
Comprehensive compliance support for PAN, TAN & GST registrations.
Helped a New Delhi-based fintech register LLP in a record 10 days.
Manage your end-to-end paperwork requirements for hassle-free processing.
Help LLP partners understand the liability clauses to prevent disputes.
Assistance with post-registration compliance, including annual filings & audits.
24/7 support & consultation for continued assistance to address queries during LLP formation.
Frequently Asked Questions
LLP registration is the legal process of registering a limited liability
partnership in India. LLP Act, 2008 governs the clauses to register limited liability
partnership. Limited liability partnership registration is a unique combination that offers the
benefits of a partnership and a corporate entity. It delivers various benefits, including
limited liability to its partners and the much-needed operational flexibility. Businesses can
register an LLP through the official portal of the Ministry of Corporate Affairs (MCA).
An LLP is recognized as a separate legal entity from its partners. While
the ownership of an LLP is shared among its designated partners, however, it is done on the
basis of the amount contributed by them to the business. The partners in an LLP are responsible
for the business operations, not the business debts and liabilities, as their liabilities are
restricted to the contributing amount. Therefore, LLP is one of the most preferred business
structures in India by professionals and service providers like CAs and lawyers.
Yes, a husband and wife can become business partners in an LLP. Family
members are not restricted from becoming partners, however, they must fulfil the eligibility
criteria. If a husband and wife choose to become business partners in an LLP, they must obtain
Designated Partner Identification Numbers (DPINs), which is mandatory to initiate the LLP
formation process. They must also contribute capital to the business in accordance with the
terms and conditions outlined in the LLP agreement.
Yes, Schedule 3 of the LLP Act, 2008 is mandatory for the LLPs that are
engaged in accounting and financial reporting. Schedule 3 offers a well-knit format to prepare
financial statements, such as Profit and Loss Accounts and Balance Sheets. It helps maintain
transparency and meet regulatory and legal compliance.
Businesses as LLP incorporation must understand their turnover limits to
stay compliant and ensure operational efficiency. LLP registration online with an annual
turnover of over ₹40 lakh or capital contribution of more than ₹25 lakh must get itself audited
by a Chartered Accountant. However, LLPs falling below this threshold limit benefit from audit
exemptions, which helps them reduce their compliance costs. This is another reason why they are
preferred alternative options for small businesses and startups.
As per the LLP Act, 2008 the following entities are not eligible to
become a partner during LLP formation:
Minors who are aged below 18 years.
Undischarged insolvents or people who have been declared bankrupt.
Persons disqualified under law, such as directors who are banned by the law.
Artificial legal entities, including companies or LLPs. It is pertinent to note that
only individuals or corporate bodies can become partners in an LLP.
While LLPs are one of the most preferred business structures in India,
offering various benefits such as operational flexibility, they also have some limitations,
which include the following:
LLPs are not eligible to raise equity funding from the public.
They have to meet the compliance filing requirements even though the requirements are
less than the corporate entities.
LLPs are not recognized in some international markets, hampering their expansion and
growth.
Transferability restrictions, as the consent of all partners is a must to incorporate
changes.
LLPs face taxation issues, as there are restrictions on certain corporate tax benefits.
To remove a partner from an LLP, it is mandatory to file Form 4 with the
Ministry of Corporate Affairs (MCA). However, it is important to mention the exact reason for
the removal of the partner. An LLP must ensure to list down the exit terms in its LLP Agreement
to ensure seamless and hassle-free processing. However, in case a partner contests the decision,
legal resolution or a court order becomes mandatory. Consent of other partners is equally
important unless otherwise mentioned in the LLP agreement.
Yes, a tax audit becomes mandatory for an LLP if its turnover exceeds ₹1
crore or professional receipts exceed ₹50 lakh as per the Income Tax Act, 1961. However, LLPs
that fall below this threshold are not mandated to undergo audits. But it is advisable for all
LLPs to maintain their financial records, and they should also file annual returns with the
Ministry of Corporate Affairs (MCA).
Various forms are used in LLP registration process and each form has its
own unique purpose. Key forms include the following:
FiLLiP – The FiLLiP form is used to file LLP incorporation application.
RUN-LLP – This form is used for name reservation request to register LLP.
Form 3 – The process of LLP registration involves filing LLP Agreement through
this form.
Form 4 – This form is required to add or remove a partner for limited liability
partnership registration.
Form 8 – LLP registration online includes this form, which is used for Statement
of Accounts & Solvency.
Form 11 – This form is used in the process to register limited liability
partnership and filing annual returns.
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