Limited Liability Partnership (LLP) Registration

The concept of Limited Liability Partnership is recognized under Limited Liability Partnership Act, 2008 to introduce and legally sanction the concept of LLP in India. LLP is a type of business form which as a hybrid of Companies & Partnerships providing benefits of limited liability while allowing its members the flexibility for organizing their internal composition as a partnership. The main advantage of an LLP is the limited personal liability provided to each of the partners.

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LIST OF DOCUMENTS FOR REGISTRATION

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FAQS

  • Name reservation: The first step to incorporate Limited liability partnership (LLP) is reservation of name of LLP. Applicant has to file e-Form 1, for ascertaining availability and reservation of the name of a LLP business.
  • Incorporate LLP: After reserving a name, user has to file e-Form 2 for incorporating a new Limited Liability Partnership (LLP).
  • eForm 2 contains the details of LLP proposed to be incorporated, partners’/ designated partners’ details and consent of the partners/ designated partners to act as partners/ designated partners.
  • LLP Agreement: Execution of LLP Agreement is mandatory as per Section 23 of the Act. LLP Agreement is required to be filed with the registrar in eForm 3 within 30 days of incorporation of LLP.

Atleast 2 Designated Partners shall be required in every LLP who shall be individuals and at least 1 of the Designated Partner shall be a resident of India. In case of a LLP in which all the partners are bodies corporate or in which one or more partners are individuals and bodies corporate, at least two individuals who are partners of such LLP or nominees of such bodies corporate shall act as designated partners.

Yes, a body corporate may be a partner of an LLP.

Two or more partners are required to form an LLP.