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What is LLP

List of Documents Required for a Limited Liability Partnership (LLP) Registration



Limited Liability Partnership (LLP) is a recent corporate program in India that aims at small and medium-sized businesses. Limited Liability Partnership (LLP) is a sought of business which is a combination of a company and partnership. It can be easily operated with flexibility just like one operates a normal partnership. It provides benefits and characteristics of a private limited company. The partners have a limited liability since LLP stands separate from partners as a legal entity. LLP is a preferable program as it easily maintains compliances, has a low registration fee, and requires easy maintenance.

Formation of LLP

The formation of LLP is very much similar to the formation of a Private Limited Company Incorporation. To begin with an LLP, a minimum of two partners are required and they should have a registered office location within India. This is to bring to notice that the Foreign Direct Investment (FDI) in LLP is allowed only when you have taken prior approval from the Reserve Bank of India (RBI) for the same. However, if the NRIs and the foreign Nationals choose to incorporate in a Private Limited Company, they will be benefited as the private limited companies allow 100 percent Foreign Direct Investment (FDI).

List of Documents Required for a Limited Liability Partnership (LLP) Registration

All the partners are required to submit their primary ID proof - PAN Card at the time of LLP Registration.

Address Proof of the Partners

The partners of the business can submit any one document out of the following -

  • Driving License
  • Aadhar Card
  • Passport
  • Voter ID Card

The name and address on the PAN Card should be similar to that mentioned on the ID Proof. In case there are any spelling errors in the name or error in the date of birth, they should be corrected before submitting the documents to the Registrars of Companies (RoC).

Proof of residence of the partners

As residence proof, any one of the following documents can be submitted –
  • Latest Bank Statement
  • Telephone Bill
  • Mobile Bill
  • Electricity Bill
  • Gas Bill
Any bill that you are using as proof should not be older than two months and also must contain the partner’s name as mentioned in the PAN Card.

Photograph

A passport size photograph on the white background of the partners should be provided.

Passport

In the case of Foreign Nationals or Non- Resident Indians (NRIs) who wish to become a partner in the Indian Limited Liability Partnership (LLP), they specifically need to submit their passports at the time of LLP Registration. The passports of the foreign nationals or the NRIs need to be authenticated and signed either by the relevant authorities in the country or by the Indian Embassy situated in that country. The foreign nationals or the NRIs need to present proof of address also which may be a bank statement, residence card, driving license, or any other government-issued identity which should contain the address of that individual. Moreover, if the documents of that particular foreign national or NRI is in any other language other than English, in such a situation an authorized translation copy of the documents should also be attested along with the rest of the documents.

Documents of both the partners as well as the partnership firm should be submitted for LLP Registration.

Documents of LLP

Proof of Registered Office Address

For a Limited Liability Partnership, valid proof of the registered office should be handed over either at the time of registration or within 30 days of incorporation. In case the registered office is not self-owned, the rent agreement of the office along with no objection certificate signed by the landlord should be submitted. The no-objection certificate will determine that the landlord has given consent for the registered office. Along with this, anyone document out of electricity bill, gas bill, telephone bill should be submitted. The utility bill that has been submitted must contain the name and address of the owner and the submitted bill should not be older than two months.

Digital Signature Certificate (DSC)

Any one of the proposed partners must have a digital signature certificate since all the applications and the documents will be digitally signed by the authorities.

Director Identification Number (DIN)

On receiving the digital signatures, partners should apply for the Director Identification Number (DIN). The DIN Number is usually received immediately, but in rare cases, additional documents may be required.

Name Approval

After getting the DIN, an application for reservation of name should be made to the Ministry of Corporate Affairs (MCA). The Limited Liability Partnership (LLP) naming guidelines should be kept in mind for quick approval.

Incorporation Filing

Once the name approval application is accepted by the MCA, a Limited Liability Partnership name approval letter is issued to the proposed partners. Thereafter, the partners need to file for the required incorporation documents and register the LLP within 60 days. In case, filing is not done within 60 days of the name approval letter, the partners will have to re-issue the approval for the name for the LLP Registration.

At the time of filing for the LLP, the documents proving possession of the registered office are needed. Once it has been done, all the registered office-related documents in addition to the signed subscribers’ sheet should be filed with the MCA for registration of the LLP. If the LLP Registration application is accepted, the registrar would also issue the incorporation certificate. After receiving the incorporation certificate, the LLP Registration will be considered and the application for PAN for the LLP can be made. Thereafter the partners of the LLP have 30 days of time to file for the partnership of the LLP with the MCA. In case the partnership deed is not filed within 30 days of the period, a fine will be imposed.

The Bottom Line

So, here I described to you about all the documents that you’ll be needing for Limited Liability Partnership (LLP) Registration. In addition to it, I have also stated some essential points about LLP Registration. This article will definitely help you out to successfully carry out the LLP Registration process.

Some commonly searched Questions about Limited Liability Partnership

So, here I described to you about all the documents that you’ll be needing for Limited Liability Partnership (LLP) Registration. In addition to it, I have also stated some essential points about LLP Registration. This article will definitely help you out to successfully carry out the LLP Registration process.
1. Is it possible to convert an existing partnership firm into LLP?

Yes, it is possible to convert an existing partnership firm into LLP in accordance with Provisional clause 58 and schedule 2 of the LLP act. For such conversion and incorporation Form, 2 and Form 17 should be filled.

2. Is it possible to convert an existing company into LLP?

The existing private or the unlisted public companies can be converted into LLP in accordance with the Provisional clause 58 and schedules 3 and 4 of the LLP Act. For such conversion Form 2 and Form, 18 should be filled with the registrar.

3. Whether or not the name of LLP can end with ‘Limited’ or ‘Pvt Limited’?

No such suffix can be used! The name of the company shall only end with “LLP’ or ‘Limited Liability Partnership’.

4. Which forms are needed to be filed in case of appointment or resignation of existing partners from the LLP?

In case of appointment of new partners or resignation of the existing partners, eForm 3 and eForm 4 are needed within 30 days of such proceedings.

5. Is it mandatory to file and get a partnership agreement under LLP registration?

It is mandatory to file an LLP agreement and execute the file in accordance with Section 2(0), 2(q), section 22, and section 23 of the act. According to the provisional act, if the person fails to have an agreement to do so for any reason, the liabilities and the mutual rights shall be issued under Schedule 1 of the Act.

6. Besides the registered office, can LLP provide any other address for contacting the Registrar?

The LLP has the option to declare an additional address within the jurisdiction of ROC for receiving statutory notices and letters from the registrar in accordance with the act.

7. How can a foreign entity reserve a name under the Limited Liability Partnership Act?

The foreign entity is free to file an application either for the reservation of name or for the renewal of the name reserved earlier just by filing an application in eform 25. In the system, the name shall be reserved for three years and the application for renewal of the name should be filed before the three years expiry.

8. Is it possible for a foreign LLP to establish a business place in India?

The foreign LLPs can establish a place of business in India by giving the particulars of incorporation of foreign LLP and filling of form 27. They are also liable to provide the details of at least two authorized representatives in accordance with the LLP Act.


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