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Expert guidance for smooth LLP registration under the LLP Act, 2008
What is New LLP Incorporation?
New LLP Incorporation is the process of legally forming a Limited Liability Partnership (LLP) under the Limited Liability Partnership Act, 2008. It provides entrepreneurs and businesses with a flexible business structure that combines the benefits of a partnership and a company. This process includes reserving a unique LLP name, filing the necessary incorporation forms with the Ministry of Corporate Affairs (MCA), and drafting a comprehensive LLP agreement. Incorporating a new LLP ensures a distinct legal identity, limited liability protection for partners, and simplified compliance, enabling businesses to operate efficiently and with greater credibility.
Benefits of LLP Incorporation
Separate Legal Entity
LLP has its own legal identity, enabling it to own assets and enter into contracts independently.
Limited Liability Protection
Partners’ liability is limited to their capital contribution, safeguarding personal assets.
Flexible Management
Partners can define roles and responsibilities through the LLP agreement.
Perpetual Succession
The LLP continues to exist despite changes in partners or management.
Simplified Compliance
LLPs have fewer compliance requirements compared to private limited companies.
Ease of Fund Raising
New partners can be admitted without major legal formalities.
Tax Benefits
LLPs enjoy tax advantages, including lower compliance and no dividend distribution tax.
Enhanced Credibility
Being registered under the LLP Act enhances trust among clients and investors.
Eligibility for LLP Incorporation in India
To incorporate a Limited Liability Partnership (LLP) in India, the following eligibility criteria must be met:
- Minimum Partners
- An LLP must have at least two designated partners, and at least one of them must be an Indian resident.
- Designated Partners
- At least two designated partners are required for LLP incorporation, and they must be individuals (not companies).
- Registered Office
- The LLP must have a registered office in India, with proof of address such as utility bills, rental agreements, or NOC from the owner.
- Unique Name
- The proposed LLP name must be unique and not identical to any existing company or LLP registered with the Ministry of Corporate Affairs (MCA).
- Digital Signature Certificates (DSC)
- All designated partners must obtain valid DSCs to digitally sign incorporation forms.
Step-by-Step Process
Step 1: Obtain DSC & DPIN
Acquire Digital Signature Certificates and DPINs for all designated partners.
Step 2: Name Reservation
Reserve a unique LLP name by filing RUN-LLP form on MCA portal.
Step 3: File Incorporation Form
Submit Form FiLLiP with partner details, office address, and capital contributions.
Step 4: Draft LLP Agreement
Create LLP agreement defining roles, responsibilities, and profit-sharing ratios.
Step 5: Certificate of Incorporation
Receive incorporation certificate from MCA confirming LLP’s legal status.
Step 6: Compliance
Maintain statutory records, file annual returns, and meet regulatory requirements.
Documents Required for New LLP Incorporation
PAN Cards of all partners for identification.
Identity Proof: Aadhaar card, passport, or voter ID of all partners.
Address Proof: Utility bills, rental agreements, or bank statements.
Photographs: Recent passport-sized photographs.
Proof of Residency: At least one designated partner must be a resident of India.
Digital Signature Certificates (DSC): Valid DSCs for all designated partners.
Proof of Registered Office: Utility bills, NOC from landlord, or rental agreement.
Property Ownership Documents: If the premises are owned by partners.
Consent Letter: Authorization to use the address as the registered office.
LLP Agreement outlining partnership terms, profit-sharing ratio, and management structure.
Business Plan or Project Report for certain business activities.
Capital Contribution Proof: Bank statements showing capital infusion.
Statement of Partners’ Capital Contribution detailing each partner's investment.
RUN-LLP: For name reservation.
Form FiLLiP: For incorporation of the LLP.
Form 3: For filing the LLP Agreement after incorporation.
Why Choose My Legal Tax for New LLP Incorporation
Expert, Hassle-Free, and Transparent LLP Incorporation Services Tailored for Your Business
Expert Guidance
Our experienced team ensures smooth LLP incorporation with full compliance under the LLP Act, 2008, saving you time and avoiding errors.
Hassle-Free Process
We handle all paperwork, approvals, and filings, so you can focus on your business while we take care of the rest.
Transparent Pricing
No hidden costs — you get a clear, fixed price for complete LLP incorporation services.
Quick Turnaround
Our streamlined process helps incorporate your LLP faster without compromising on quality or compliance.
End-to-End Support
From name reservation to filing the LLP agreement, we support you at every step until your LLP is fully registered.
Compliance Assistance
Post-incorporation, we guide you on compliance requirements to keep your LLP in good standing.
Frequently Asked Questions
What is the process of LLP incorporation?
The process involves name reservation, obtaining DSC and DIN, filing Form FiLLiP, and registering the LLP agreement with the Ministry of Corporate Affairs.
How long does LLP incorporation take?
It usually takes 7–15 working days, depending on document readiness and MCA processing time.
What is the minimum capital required for LLP registration?
There is no mandatory minimum capital requirement, but partners must contribute capital as per the LLP agreement.
Can foreign nationals be partners in an LLP?
Yes, foreign nationals can be designated partners if they comply with the Foreign Exchange Management Act (FEMA) guidelines and obtain necessary approvals.
What are the compliance requirements after LLP incorporation?
LLPs must file an annual return (Form 11) and statement of accounts & solvency (Form 8) with MCA every year.
Can an existing partnership firm be converted into an LLP?
Yes, an existing partnership firm or private company can be converted into an LLP under Section 55 of the LLP Act, 2008.
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