LIMITED LIABILITY PARTNERSHIP
- Art Teacher
- London, UK
- 5-7 Hrs
A Limited Liability Partnership (LLP) combines the flexibility of a traditional partnership with the security of a registered company, making it one of the most preferred business structures in India’s thriving startup ecosystem. Formed when two or more individuals come together to execute an LLP Agreement that defines roles, responsibilities, and profit-sharing terms, an LLP offers entrepreneurs the freedom to collaborate while limiting their personal liability. Unlike a conventional partnership firm, an LLP enjoys perpetual succession, ensuring the business continues regardless of changes in partners. At Aarthika Globcorp Solutions, we provide end-to-end assistance with LLP Registration in India, from drafting agreements to ensuring compliance, giving your business a strong legal foundation with limited risk and maximum growth potential.
1.Documents of Partners
a.PAN
b.Residence Proof of Partners
c.Photograph
d.Passport (in case of Foreign Nationals/ NRIs)
2.Documents of LLP
a.Proof of Registered Office Address
b.Digital Signature Certificate
- Apply for a Digital Signature (DSC): obtain a DSC for designated partners of the proposed LLP.
- Apply for Designated Partner Identification Number (DPIN): The application for allotment of DPIN has to be made in Form DIR-3.
- Name Approval Application: RUN-LLP (Reserve Unique Name-Limited Liability Partnership) is filed for the reservation of the name of the proposed LLP .
- Incorporation of LLP: The form used for incorporation is FiLLiP (Form for incorporation of Limited Liability Partnership) which shall be filed with the Registrar .
- File LLP Agreement: LLP agreement must be filed in Form 3 online on MCA Portal within 30 days of the date of incorporation.
No, an LLP cannot be formed with only foreign nationals as partners. There must be at least one designated partner who is a resident in India (i.e., a person who has stayed in India for at least 120 days during the financial year)
A body corporate can be a partner in an LLP, but cannot act as a designated partner itself.
If a foreign LLP establishes a place of business in India, it must register with the Registrar of Companies under the LLP Act by filing the prescribed forms within 30 days of establishing the business.
Only one designated partner is required to be a resident in India.
Without filing (Form 3), the agreement has no legal standing with ROC, leading to defaults under “mutual rights as per First Schedule”.
A converted LLP must re-register for GST, PAN, and other statutory registrations as a new PAN is allotted to the LLP, requiring new GST and other tax registrations as per law.
ROC may strike off under Rule 37(1)(b) for non-filing, but this is often legally contested by partners.