How to Register an LLP in India

1. The average time it takes to set up an LLP in India is approximately 15-20 business days, depending on the government turnaround time and the filing of documents by the client. An assigned Engagement Manager will contact you to collect the necessary documents for registering LLP. The data can be submitted online.
2. Upon receiving the information, the manager will review the documents and begin the process of obtaining digital signatures. When submitting the digital signatures, the applicant must carry out the OTP verification and the video KYC check. At the same time, we also apply the MCA to reserve the name you have chosen for LLP.
3. After obtaining the approval of the name and the digital signatures, we create all the documents for the LLP and send them to the partners for signature. All partners then have to sign the documents and send them to us.
4. The signed documents are then submitted to the MCA along with the application to set up an LLP. The approval by the MCA takes approximately 2-5 working days. 
5. Once approved, the LLP will be accepted and we will start helping you obtain a PAN for the LLP and also opening a bank account on behalf of an LLP. At the same time, we also create the LLP partnership certificate. This partnership certificate must be signed by all partners on stamp paper and the signed copy must be uploaded to our platform within 25 days of the establishment. Later, the signed LLP partnership certificate is verified by the engagement manager and uploaded to the MCA portal for final processing within 30 days of inclusion.

Check if your company qualifies for LLP in India

Starting a business requires certain specific requirements to be met to be registered as an LLP.

The normal partnership structure and LLP share the same characteristics in terms of internal administration, profit distribution, and tax liabilities. However, it offers partners less financial liability (limited liability).

Every company with:

• At least 2 partners are expected to set up an LLP. The maximum number of partners is not restricted
• The designation of a natural person if a legal person is a partner
• No joint capital requirement, although each partner has to make an agreed contribution to it.
• Minimum capital contribution: There is no minimum capital essential for an LLP. The LLP should have an authorized capital of at most limited Rs. 1 lakh.
• At least one Designated Partner as a resident of India
• DPIN for all partners
• DSC for all Designated Partners
• Proof of address for the LLP office. The seat of an LLP does not have to be a commercial space. A rented apartment can also be the seat if a NOC is obtained from the landlord.
• Given the changes to the FDI regulations of November 10, 2015, foreign investors are now allowed to have a 100% FDI in the automatic route LLP. The 100% FDI in the LLP is granted to overseas companies engaged in activities or sectors where 100% FDI through the channels of the automatic route is considered permissible. In addition, there should be no performance requirements tied to FDI. Concerning the LLP, a clear interpretation of the terms “internal provisions” and “ownership and control” has been made. Therefore, foreign investment with FDI in LLP is done smoother and faster.
• The LLPs are also allowed to opt for downstream investment in another company or even opt for LLP in the sectors that allow 100% FDI according to the automatic route. This does not result in any performance limitations associated with FDI.

Documents required for the Limited Liability Partnership

The following documents are required to register an LLP in India. We at BusinessRights do LLP registration with a small fee of Rs.7999.

For the partners:

• PAN card or passport if the applicant is a foreigner.
• Driver’s license or Aadhar card, resident card or voting card, or other government-issued proof of identity.
• Bank statement or phone bill less than 3 months old.

For the Registered Office:

• The permission of the landlord (name in the electricity bill or gas bill or property tax receipt or purchase deed) to use the premises. This acts as the landlord’s NOC and;
• Proof of all utilities such as gas, electricity, telephone with details of the address of the premises with the name of the owner or a document not older than two months.