Limited Liability Partnership

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Limited Liability Partnership (LLP) is a partnership company in which some or all partners have limited liabilities. The Limited liability Partnership Act, 2008 regulates the LLP in India. The rights and duties of partners are governed by the LLP agreement. In an LLP all the partners have limited liability; one partner is not responsible or liable for another partner’s negligence. LLP registration is administered by the Ministry of Corporate Affairs (MCA) through the Registrar of Companies (ROC)

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How to get Limited Liability Partnership company registered

  • Select Registration Product

    Choose your required Registration and Add-Ons to get maximum discount

  • Upload Documents

    Upload all the required Documents and schedule Call with the Lawyer

  • File Application

    Lawyer will file your Application and pay the required Government fees

  • Get Registration Certificate

    Lawyer will Follow-up and Respond to any objections raised and get your Registration Certificate

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Select Registration Product

Choose your required Registration and Add-Ons to get maximum discount

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Arrow pointing to next blockArrow pointing to next block

Upload Documents

Upload all the required Documents and schedule Call with the Lawyer

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File Application

Lawyer will file your Application and pay the required Government fees

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Get Registration Certificate

Lawyer will Follow-up and Respond to any objections raised and get your Registration Certificate

Benefits of Incorporating a Limited Liability Partnership company

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    Limited liability of the partners

    The designated partners have limited liability. The liability of each member is limited to the contribution made by them. The partners have no personal liabilities.

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    No minimum capital

    A limited liability partnership can be started with zero paid up capital as there is no minimum capital required for incorporating a LLP.

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    Minimum compliance requirement

    The LLP has to file only two annual statements. Thus they have fewer requirements related to compliance.

Prerequisites of incorporating a Limited Liability Partnership company

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    Minimum 2 partners. There is no limit on maximum number of Partners

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    PAN (Permanent Account Number) of all the designated Partners

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    No minimum paid- up capital required

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    Registered Office address

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    Identity proof of each partner

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    Passport size photograph

Registration Process

  • 1

    Apply for Digital Signature Certificate (DSC)

  • 2

    Apply for a Directors Identification Number (DIN)

  • 3

    Check company name availability and apply for name reservation

  • 4

    Apply for Incorporation of LLP

  • 5

    File a Limited Liability Partnership (LLP) Agreement

Deliverables of Limited Liability Partnership company incorporation

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    Digital Signature Certificate for 2 Partners

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    Directors Identification Number for 2 Partners

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    Company Name Approval

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    Articles of Association (AOA) and Memorandum of Association (MOA)

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    Certificate of Incorporation

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    PAN Number

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    TAN Number

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    Bank Account Opening document support

Frequently asked Questions

Who can be a partner of a limited liability partnership?

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A partner, in relation to a limited liability partnership, means any person who becomes a partner in the limited liability partnership in accordance with the limited liability partnership agreement.

How a private company/ unlisted public company can be converted into a LLP?

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A private company may convert into a LLP by complying with the requirements of the LLP Act, 2008

Can change in partners affect the existence of the limited liability Partnership?

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Any change in the partners of a limited liability partnership shall not affect the existence, rights or liabilities of the limited liability partnership.

If I have questions regarding my documents or the process, how can I ask?

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Once you purchase any product from the ezyLegal website, you will be credited minutes in your account. You can use these minutes to connect with the Lawyer and ask questions and take guidance from the Expert.

How to register a LLP in India?

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ezyLegal can help you get your LLP registered and provide you with the right legal guidance. You can schedule your Consultation with an ezyLegal Lawyer and know the detailed process and advantages of registering a LLP Company.

How will I know the status of the registration process?

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Status updates will be available on the ezyLegal website (www.ezylegal.in) in your secured Account. Additionally, you will be notified on email and WhatsApp.

Can NRIs and non-Indians apply for LLP incorporation?

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Yes, the LLP Act 2008 allows foreign nationals, as well as foreign companies, for LLP incorporation in India provided at least one designated partner is resident of India. However, the members of the LPP would have to comply with all relevant Foreign Exchange Laws/Rules/Regulations/Guidelines and register LLP deeds in accordance with these provisions.

How can someone get into an LLP partnership?

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Parties who were mentioned in the incorporation document at the time of LLP incorporation shall be in LLP partnership. Subsequent to LLP incorporation, new partners can be admitted in the LLP as per the conditions and requirements given in the LLP agreement.

What is the process for getting a draft LLP agreement from ezyLegal?

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ezyLegal offers Standard and Customized Document drafts. If you choose the Customized Document option, your call will be scheduled with a lawyer with whom you can explain your specific requirements. The first draft will be delivered within 2 working days and then you would be allowed 2 iterations to make changes in the draft.

What is the difference between a Limited Liability Partnership firm and a traditional partnership firm?

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When it comes to liability of partners in partnership firms, every partner is liable, jointly with all the other partners, and also severally for all acts of the firm done while he is a partner. Under the LLP structure, the liability of partners in partnership is limited to their own actions. Further, no partner is liable on account of the independent or unauthorized acts of other partners, thus allowing individual partners to be shielded from joint liability created by another partner’s wrongful acts or misconduct.

What are the limited liability partnership registration formalities needed when you form an LLP?

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LLP formation formalities shall be deposited with the Registrar of Companies (ROC) (appointed under the Companies Act, 1956) after following the provisions specified in the LLP Act. Every LLP shall have a registered office. An incorporation document has to be subscribed by at least two partners in an LLP partnership agreement and shall have to be filed with the Registrar in the prescribed form. Contents of LLP filing may also be required to be filed through the given procedure of LLP registration online.

How can an existing partner cease to be a limited liability limited partnership?

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A person may cease to be a partner in accordance with the limited liability partnership documents or in the absence of agreement, by giving 30 days notice to the other partners. A person shall also cease to be a partner of a LLC partnership –

(a) on his death or dissolution of the limited liability limited partnership or

(b) if he is declared to be of unsound mind by a competent court or

(c) if he has applied to be adjudged as an insolvent or declared as an insolvent. Notice is required to be given to ROC when a person becomes or ceases to be partner or for any change in partners.

Is there any government LLP registration cost in India?

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Following are the details of the fees levied by the Government for LLP company registration.

  • Digital signature (DSC) – Rs. 1500-2000 (Depending on the Agency)
  • Application for Director Identification Number (DIN) – Rs. 1000 for two partners
  • Name reservation through ‘Reserve your Unique Name’ service (RUN) – Rs. 200
  • Incorporation of LLP – Rs. 500-2000, depending on the amount of capital contribution
  • File Limited Liability Partnership Agreement – Varies based on capital contribution
  • Rs 50 for filing Form 3 and stamp duty based on the state where LLP company registration is done

Can you do LLP registration online?

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LLP registration online must be filed in form 3 on MCA Portal. Form 3 for the LLP agreement has to be filed within 30 days of the date of incorporation. The LLP Agreement has to be printed on Stamp Paper.

 

What are the benefits of LLP company registration?

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There are numerous benefits to be had from trading through an LLP, two of which are –

  • Limited liability protects the member’s personal assets from the liabilities of the business. LLP’s are a separate legal entity to the members.
  • Flexibility. The operation of the partnership and distribution of profits is determined by written agreement between the members. This may allow for greater flexibility in the management of the business.

What are the disadvantages of LLP company registration?

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As with all formats of business there will be disadvantages as well as advantages. The following may be considered disadvantageous in some cases.

  • Public disclosure is the main disadvantage of an LLP company registration. Financial accounts have to be submitted to Companies House for the public record. The accounts may declare income of the members which they may not wish to be made public.
  • Income is personal income and is taxed accordingly. There may be tax advantages in LPP company registration, but this will depend on your personal circumstances.

 

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  • Amandeep Kahlon

    I tried another online service before trying ezyLegal, needless to say ezyLegal went above the other service provider and was able to complete my request for an LLP Company formation without any issues!
  • Jaspal Malik

    Great experience with ezyLegal. We have opted for their service to incorporate our LLP. The process was quick and was done conveniently.
  • Shashank Taneja

    Quick, easy and very helpful. Before ezyLegal came to help me, I was totally lost and confused as to where to start and what I should do in order to add a new partner in my existing business. Now I still have action but I am better at peace. Thank you!
  • Ankit Talati

    The process of closing down my company was clear cut laid down and ezyLegal was super helpful in walking me down each step.

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