Limited Liability Partnership (LLP) Registration

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Limited liability Partnership (LLP) is a corporate business structure that enables Managerial skills and entrepreneurial capability to join and operate in a workable, innovative and systematic manner, providing benefits of limited liability while permitting its partners the flexibility of organizing their internal structure as a partnership.
As per sec 2(n) of the Limited liability Partnership (LLP) Act, 2008, Limited Liability Partnership (LLP) means a partnership formed and registered under this act.

Preliminary requirements- all the Designated Partners of the proposed firm must have DPIN (Designated Partners’ Identification Number). All the partners of a proposed firm should have a digital signature to digitally sign the incorporation and other related documents.
Reservation of name- An online application for reservation of a name shall be made through the official website of Ministry of Corporate Affairs by using RUN (Reserve Unique Name), which may either be approved or rejected, by the Registrar, Central Registration Centre (CRC).

Upon receipt of the application, after verification of all the criteria and guidelines prescribed sec and related rules.

Please consider the following point before registration of a name

The name should not be resembling from existing company/LLP
Name prohibited under the provisions of section 3 of the Emblems and Names (Prevention and Improper Use) Act, 1950
Word and expression which required Government permission such as Board, commission, Authority and etc

3. Preparation of Limited Liability Partnership Deed

Drafting of LLP deed is generally a step subsequent to the reservation of name made by registrar, following details must be included in this deed

Name and address of all the partners
Name and Principle place of business of the firm
Object and scope of work of the firm
Details of Capital
Profit and loss sharing of partners
Remuneration of partners
Right and duties of Partners
The extent of liability of LLP
Indemnity
Management and Meetings of LLP
Admission of a new partner
Cessation of existing partner
Miscellaneous provisions

4.Filling of the documents with Registrar of Companies (ROC)-An application shall be filed, with the Registrar of Companies within whose jurisdiction the registered office of the company is proposed situated.

ID proof of Designated Partners and general Partner
Aadhar card and PAN card of Designated Partners and general Partner
Photograph of the proposed Designated Partners and general Partner
Passport or Voter’s ID or Driving License of Designated Partners and general Partner
Address proof of Designated Partner and general Partner (any one of the following):

Telephone bill/Mobile Bill/Bank Statement/Electricity Bill

6. Address proof for the Registered place of business of the proposed Firm (any one of the following)

Rent agreement with rent slip or Property papers

Pan and Aadhar Card of the Designated Partner and General Partners
Photographs of the Designated Partner and General Partners
Email id and Mobile No of the Designated Partner and General Partners

Introduction

Limited liability Partnership (LLP) is a corporate business structure that enables Managerial skills and entrepreneurial capability to join and operate in a workable, innovative and systematic manner, providing benefits of limited liability while permitting its partners the flexibility of organizing their internal structure as a partnership.

As per sec 2(n) of the Limited liability Partnership (LLP) Act, 2008, Limited Liability Partnership (LLP) means a partnership formed and registered under this act.

Characteristics of a Limited Liability Partnership (LLP)

Limited liability Partnership formed and registered under Limited Liability Partnership Act, 2008 instead of Partnership Act, 1932.
Name of Partnership must contain Limited Liability Partnership (LLP)
Limited liability Partnership (LLP) is a separate legal entity and distinguished from its partners.
Limited Liability Partnership (LLP) has perpetual succession, change of partner does not affect its legal identity.
Minimum number of partners to register Limited Liability Partnership (LLP) is two and there is no maximum limit.
A Limited Liability Partnership (LLP) is a legal entity can sue and be sued.
Partners’ liability is Limited, to the extent to their contribution towards LLP, except any intentional fraud or wrongful act of omission or commission committed by any of the partners.
Partners act as agent of Limited Liability Partnership.
Each Disignated Partners is required to have a Designated Partner Identification Number (DPIN) before being appointed as Designated Partner of the LLP.

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