Limited Liability Partnership (LLP) Registration in India

Limited Liability Partnership (LLP) is a modern and flexible business structure that combines the advantages of a traditional partnership with the benefits of limited liability. Hiva Professionals offers seamless LLP registration services, guiding you through every step of the process with expert support and affordable pricing.

What is an LLP?

An LLP is a hybrid business entity that offers the operational flexibility of a partnership and the limited liability of a company. Governed by the LLP Act, 2008, it is a separate legal entity, protecting the personal assets of partners from business liabilities.

Prerequisites for LLP Registration

• Minimum of two partners with no upper limit.
• At least two designated partners (natural persons), one must be a resident of India.
• If a corporate entity is a partner, a natural person must be nominated as its representative.
• Each partner must contribute to the LLP's shared capital.
• Minimum authorized capital requirement: Rs. 1 lakh.

Characteristics of LLP

• Separate legal entity status.
• Minimum two partners required; no maximum limit.
• Limited liability protection to partners.
• Cost-effective formation and compliance.
• Minimal regulatory requirements.
• No mandatory capital investment limit.

Advantages of LLP Registration

• Own legal identity boosts trust and credibility.
• Partners are liable only to the extent of their capital contribution.
• Lower compliance burden and operational costs.
• No minimum capital requirement for registration.

Disadvantages of LLP

• Heavy penalties for non-compliance even if no business activity.
• Compulsory winding-up if the number of partners falls below two for more than six months.
• Difficult to raise capital through equity investors.

LLP Name Structure

Choose a unique name not already in use. Clearly reflect the nature of the business and end with "LLP" or "Limited Liability Partnership" to denote the business structure.

Documents Required

• PAN Card and ID proof of partners.
• Address proof (Voter ID, Passport, Aadhar, etc.).
• Recent utility bills as residence proof.
• Passport-sized photograph with white background.
• For NRIs: Passport and address proof.
• Registered office proof with rent agreement and utility bill.
• Digital Signature Certificate (DSC) of at least one designated partner.

LLP Registration Procedure

1. Obtain DSC for all partners.
2. Apply for DIN (if not already available).
3. Select a unique LLP name and get it approved.
4. File Form FiLLiP for incorporation with MCA.
5. Draft and file LLP Agreement within 30 days of incorporation.
6. Receive Certificate of Incorporation from RoC.
7. Apply for PAN and TAN of the LLP.

Why Choose Hiva Professionals?

• Experienced professionals guiding you through each step.
• Name availability search and reservation assistance.
• Assistance with DSCs and DINs.
• Legally sound drafting of LLP Agreement.
• PAN and TAN application support.
• Timely updates and customer support.
• Affordable registration fees with comprehensive services.

Let Hiva Professionals make your LLP registration experience seamless and stress-free. Start your business journey with confidence today!