Minimum Requirements For LLP Registration.
- There should be a minimum of 2 partners.
- There is no capital requirement, i.e. partners are allowed to start their LLP from any amount of capital.
- 1 Indian Native Partner is necessary.
LLP Registration
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What is LLP Registration
An LLP is a separately legal entity, just like a private limited company. Another similarity between the two is that the liability of the partners is limited to their contribution to the business. Also, partners don’t share liability for wrongdoings of other partners.
- LLP is a partnership registered and governed under the Limited Liability Partnership Act, 2008.
- It is a body corporate which combines the features of a Company and a traditional partnership firm.
LLP Registration Process
- OBTAINING DSC AND DIN: The first step is to obtain DSC of the desired partners of the Limited Liability Partnership.
- 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.
- LLP AGREEMENT :LLP agreement is very crucial in a limited liability partnership as it determines the mutual rights and duties amongst the partners, and between the LLP and the partners.
- 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.
- 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.
How to register an LLP
Documents Required for LLP Registration
- Scanned copy of PAN Card or Passport (Foreign Nationals & NRIs)
- Scanned copy of Voter's ID/Passport/Driver's License
- Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
- Scanned passport-sized photograph
- Specimen signature (blank document with signature [partners only])