May 6, 2019

Limited Liability Partnership

LLP Registration

Ideal business structure for Small and Medium-sized Enterprises going for Partnership (Duration- 15 days)

What Is Included In Our Company Registration Package?

  1. DIN for 2 Directors
  2. DSC for 2 Directors
  3. Name search & approval
  4. MOA/AOA
  5. ROC Fees & Pan card
  6. Free Accounting Software & GST filing

Documents Required For LLP Registration

  • Copy of PAN Card of partners
  • Passport size photograph of partners
  • Copy of Aadhaar Card/ Voter identity card
  • Copy of Rent agreement (If rented property)
  • Electricity/ Water bill (Business Place)
  • Copy of Property papers (If owned property)
  • Landlord NOC (Format will be provided)

Minimum Requirements For LLP Registration

  • Minimum 2 Partners
  • No Capital Requirement
  • At least one Designated Partner as Indian Resident
  • DPIN for all Partners

Steps Involved in LLP Registration

  1. Application of DSC & DPIN :
    Our very first step in this direction would be getting Digital Signature Certificate (DSC) and Designated Partner Identification Number (DPIN) for the proposed Partners of the LLP. Within a timeframe of 5 to 7 working days, DPIN and DSC can be obtained for the proposed Partners. If the partners already have DSC and DPIN, then this step can be skipped.
  2. Name approval :
    A minimum of one and a maximum of six proposed names are required to be given to the MCA. Subject to availability, naming guidelines and MCA processing time, we will get back to you with the Name approval within 5 to 7 working days. Names provided should ideally be unique and suggestive of company business.
  3. MOA & AOA submission :
    Once the name is approved, one needs to draft Memorandum of association and Articles of Associate. Both MOA and AOA are filed with the MCA with the subscription statement.
  4. Get the incorporation certificate :
    Incorporation documents can be submitted to the MCA along with an application for incorporation. MCA will usually approve the application for incorporation in 5 to 7 days, subject to their processing time. Incorporation certification is proof that the company has been created. It also includes your CIN number.
  5. Apply for PAN, TAN and Bank account :
    Then you need to apply for pan and TAN. PAN and TAN are received in 7 working days. Post this, you can submit the Incorporation certificate, MOA, AOA and PAN with the bank to open your bank account.

Concerns Related To Private Limited Company

  • Pvt. Ltd company requires few more ROC compliance translating into an additional cost of 5000 to 10000/annum.
  • Minimum capital required is Rs.100,000
  • Private limited company can have a maximum of 200 members.

Still, entrepreneurs prefer private limited for the ease in share transfer and potential for future growth.