Coronavirus disease (COVID-19) is an infectious disease caused by a newly discovered coronavirus. #Stay_Home_Stay_Safe

Limited Liability Partner (LLP) (MCA Registration)

About of Service

A Limited Liability Partnership (LLP) is a form of business entity that provides its partners with limited liability, similar to that of shareholders in a corporation, while allowing the flexibility of organizing their internal structure based on a mutually-arrived agreement. The registration of an LLP with the Ministry of Corporate Affairs (MCA) in India involves several steps and documents. Here's an overview:
Eligibility: LLPs can be formed by two or more individuals or entities, as per the rules defined by the LLP Act, 2008. Foreign nationals and entities can also be partners in an LLP, subject to certain conditions.
Name Reservation: The first step is to select a unique name for the LLP and check its availability on the MCA portal. Once approved, the name is reserved for a period of 3 months.
LLP Agreement: Partners must draft an LLP Agreement which outlines the rights, duties, and responsibilities of each partner, as well as the operational framework of the LLP.
Filing Application: Partners must file the necessary documents electronically with the MCA and pay the prescribed fees.
LLPs offer the advantage of limited liability to partners while providing the flexibility of partnership structure. However, it's essential to ensure compliance with all regulatory requirements and seek professional assistance if needed to facilitate a smooth registration process and ongoing compliance.

Uses and Benefits
  • Understanding LLP Registration Requirements: Before initiating the registration process, it's crucial to understand the requirements and eligibility criteria for forming an LLP. LLPs in India are governed by the Limited Liability Partnership Act, 2008.
  • Preparation and Documentation: Gather all necessary documents required for LLP registration, including: LLP Agreement: This document outlines the rights and duties of partners, profit-sharing ratios, and other essential details. Address Proof: Proof of the registered office address of the LLP. Identity and Address Proofs of Partners: Copies of identity proofs (such as PAN card, Aadhaar card, passport) and address proofs (such as utility bills, bank statements) of all partners. Designated Partner Identification Number (DPIN): Each designated partner must obtain a DPIN by filing Form DIR-3 on the MCA portal. Digital Signatures: Designated Partners need to obtain digital signatures for filing forms electronically with the MCA.
  • Name Reservation: Check the availability of the desired LLP name and reserve it through the MCA portal. Ensure that the proposed name complies with the naming guidelines prescribed by the MCA.
  • Filing of Incorporation Form: Complete and file LLP Form 3 (Incorporation Document and Statement) online on the MCA portal. Provide accurate information and attach the necessary documents.
  • Payment of Fees: Pay the prescribed fees for LLP registration and other statutory filings online through the MCA portal.

Select your own Associate

Charges Structure & Our Scope of Work

Additional Disclosure

  1. LLP Details:

    • Provide comprehensive details about the LLP, including its name, registered office address, LLPIN (LLP Identification Number), date of incorporation, and the state where it is registered.

  2. Registration Status:

    • Clearly state the LLP's registration status with the Ministry of Corporate Affairs (MCA), including the Certificate of Incorporation and LLP Agreement filed with the Registrar of Companies (RoC).

  3. LLP Agreement:

    • Mention the date of execution and key provisions of the LLP Agreement, including details about partners, their contributions, profit-sharing ratios, management structure, and responsibilities.

  4. Partnership Details:

    • Disclose the names, addresses, DINs (Director Identification Numbers), and roles of all designated partners of the LLP. Outline any changes in partner details and the process for such updates with the MCA.

  5. Compliance with LLP Act:

    • Confirm compliance with the provisions of the Limited Liability Partnership Act, 2008, and amendments thereto. This includes adherence to statutory requirements for filing annual returns, financial statements, and other compliance filings with the MCA.

  6. Financial Statements and Annual Returns:

    • Detail the LLP's practice for preparing and filing annual financial statements (Form 8) and annual returns (Form 11) with the RoC within the prescribed timelines.

  7. Changes in LLP Details:

    • Notify any changes in LLP details, such as change in registered office address, change in partners, alteration of LLP Agreement, or any other significant changes filed with the RoC.

  8. Statutory Registers and Records:

    • Describe the maintenance of statutory registers and records as required under the LLP Act, including registers of partners, register of charges (if applicable), and minutes of meetings.

  9. Compliance Certificates and Audits:

    • Provide information on any compliance certificates obtained, such as the Certificate of Compliance issued by a Company Secretary in Practice (CS) or Chartered Accountant (CA), as required under the LLP Act.

  10. Legal Proceedings and Disputes:

    • Disclose any ongoing or pending legal proceedings, disputes, or litigations involving the LLP, including actions initiated by or against the LLP before any judicial or quasi-judicial authority.

Terms & Conditions

Documents & Detail Required

e Ministry of Corporate Affairs (MCA) in India, you need to prepare and submit several documents. Here's a list of the necessary documents for LLP MCA registration:

  1. LLP Agreement: This document outlines the terms and conditions of the partnership, including the rights, duties, and responsibilities of partners, profit-sharing ratios, and procedures for decision-making.

  2. Proof of Registered Office Address: Provide documentary evidence of the registered office address of the LLP. This could include a rental agreement, lease deed, or ownership documents.

  3. Identity and Address Proofs of Partners: Copies of identity proofs (such as PAN card, Aadhaar card, passport) and address proofs (such as utility bills, bank statements) of all partners.

  4. Designated Partner Identification Number (DPIN): Each designated partner must obtain a DPIN by filing Form DIR-3 on the MCA portal. DPIN is a unique identification number required for designated partners.

  5. Digital Signatures: Designated partners need to obtain digital signatures for filing forms electronically with the MCA. Digital signatures ensure the authenticity and security of online transactions.

Please Note Down Your Querie

OUR REVIEW

FAQ'S

What is a Limited Liability Partnership (LLP)?

A Limited Liability Partnership (LLP) is a form of business structure that combines elements of a partnership and a corporation. It offers limited liability protection to its partners while allowing them to actively manage the business.

What are the advantages of forming an LLP?

Advantages of forming an LLP include limited liability protection for partners, flexibility in management structure, tax benefits, ease of compliance, and separate legal entity status.

Who can be partners in an LLP?

Individuals and corporate entities can be partners in an LLP. There are no restrictions on the maximum number of partners in most cases.

What is the minimum capital requirement for LLP registration?

There is no minimum capital requirement for LLP registration. Partners can contribute any amount of capital as per the terms of the LLP agreement.

What is the LLP agreement, and is it mandatory?

The LLP agreement is a legal document that outlines the rights, duties, and responsibilities of partners, profit-sharing ratios, and other terms of the partnership. It is mandatory to have an LLP agreement at the time of registration.