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LLP Formations

LLP Registration

In India, Limited Liability Partnerships became popular after the enactment of the Limited Liability Partnership Act in the year 2008. Many start-ups and small businesses chose this form of partnership over the traditional form of partnership and company as it offers the advantages of both the partnership and company.

The leading edge of an LLP is one partner is not responsible for the other partner's wrongdoing or negligence. Professionals, Micro and Small enterprises prefer to form LLP for their business. LLP offers the benefit of limited liability towards owners and, at the same time, needs minimum maintenance.

Benefits of Forming an LLP

There are many benefits to run a business by constituting as an LLP which is outlined below:
  • Dual advantages- Partnership with features of a company
  • No partner can be responsible for another partner's misconduct
  • Less expensive to incorporate than a private limited company
  • Limits the liabilities of its partners
  • Can raise funds from partners, banks and NBFCs
  • Flexible agreement

Process of LLP Formation

Let us have a look at the process of registration with the help of the diagram below:

Process of LLP Formation

The steps are discussed in detail below:

Step 1: Get Name Approval

 An application for reservation of name can be made through web service; reserve a new name LLP by RUN LLP for the proposed LLP.

 Step 2: Apply for DSC

 Every proposed Designated Partner must obtain Digital Signatures which is mandatory for filing forms for LLP.

 Step 3: Incorporation of Limited Liability Partnership

 An application for incorporating Limited Liability Partnership can be made through webform FiLLiP along with webform 9. Webform 9 is an integrated service for the incorporation of LLP. Fillip is an initiative undertaken by the Government of India toward Ease of Doing Business (EODB). Fillip is an integrated form wherein the certificates of registration are issued to the LLP. Issuance of PAN & TAN and Issuance of DIN/DPIN. Now, through the webform FiLLiP. LLP can be incorporated with 500 Partners. There is no requirement to file Addendum to the web form FiLLiP form.

 The user must file the consent of Designated Partners who have DPIN in linked webform-9 under the relevant section of LLP Rules, 2009, Upon successful submission of webform FiLLiP. However, Form 9 must be filed as an attachment to FiLLiP for the Designated Partners whose DPIN is applied through webform FiLLiP.

 Step 4: Filing LLP Agreement

 Within a period of 30 days of incorporation of the LLP, the partners should execute the limited liability partnership agreement and file web LLP form 3 with the RoC. The LLP agreement lays down the partners' inter-se rights, liabilities, and duties. Earlier, the applicant used to download form 3 from the MCA portal and upload the form on the MCA portal. Now webform 3 needs to be filed online. For the purpose of webform 3, we need to know about the V3 Portal:

For LLP registration in India, MAG is the most reliable and cost-effective service provider. We can help you register your LLP if you seek the best LLP formation services in Delhi.

Get your LLP registration online in India with complete assurance. All your concerns related to LLP company registration in Delhi, LLP registration cost in Delhi, LLP registration process in Delhi will be dealt with our domain experts.

Hence, if you are seeking LLP Formation services in Delhi, kindly contact us at info@manishanilgupta.com and experience the most satisfactory assistance from our team of experts.

Richa Gulati

Senior Associate-Secretarial Compliance, PCS

“If You Want To Fly Into A Free Sky, You Never Ask For The Wings, You Just Want To Break Up Your Ring. Keep Flying, The Whole Sky Is Yours .” .

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Frequently Asked Questions


A minimum of two designated partners (individuals) are required to start an LLP in India. At least one out of them must be a resident in India. There is no restriction on the maximum number of partners. 
 
If at any point, the number of partners in an LLP reduces to 1, the LLP must admit another partner within a period of 6 months; otherwise, the existing partner shall be personally liable for all the obligations related to that period. 
 
As per the governing act, a partner can contribute in any form, tangible or intangible. So, a partner can bring his contribution in kind also. 
 
Yes, A company and an LLP can become partners in an LLP. But a partnership firm is restricted from becoming a partner in an LLP. 
 
Yes, a foreigner can start its LLP in India, but one of the designated partners must be a resident in India. 
 
Yes, a foreign LLP can establish its business in India by filing LLP Form 27 (Form for registration of foreign LLP in India) with the registrar within 30 days of setting up its business in India.
 
If a person already has a DIN, then there is no need to apply for the DPIN separately. The DIN shall be considered as his DPIN also. 
 
Yes, a partnership firm, a private company and an unlisted public company can convert itself into an LLP. 
 
No, an LLP can only have objectives associated with earning profit. One cannot run an LLP for charitable objects. 
 
An LLP (Limited Liability Partnership) is a legal business structure that combines the limited liability protection of a corporation with the flexibility and tax advantages of a partnership.
Forming an LLP offers the advantages of limited liability protection, where partners' personal assets are protected, and it provides flexibility in management and tax benefits for the business.
Yes, an LLP can engage in business activities outside of the country where it is registered, subject to compliance with the laws and regulations of the respective jurisdictions involved.
The annual compliance requirements for an LLP typically include filing annual returns and financial statements with the appropriate regulatory authorities, as well as maintaining proper books of accounts and conducting regular audits as per the applicable laws and regulations.
The time required to form an LLP varies depending on the jurisdiction, but typically it takes a few weeks to complete the necessary registration process, including document preparation, submission, and approval.
Yes, an LLP can convert into a private limited company by following the prescribed conversion process as per the applicable laws and regulations, which may involve fulfilling certain criteria and obtaining necessary approvals from regulatory authorities.
 

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