In the previous blog company registration Kerala we have mentioned LLP(Limited Liability Partnership) in short now let us see what is it in detail in this blog:

 

What is LLP?

LLP Stands for limited liability partnership. This was formed and introduced in the year 2008 under the limited liability Partnership Act 2008. A limited liability partnership is similar to the normal partnership registration. the legal structure of partnership firms doesn’t allow them limited liability protection so the government of India introduced  Limited Liability Partnership on Jan 9, 2009. The first LLP was incorporated on April 2, 2009

 

LLP Registration

The standard process of LLP registration is where 2 LLP partners incorporate an entity with limited liability and opens a new bank account under the LLP Name and start the business the partners are liable to pay the government’s fees and professional fee for the registration.

 

Limited Liability Partnership Kerala Incorporation Rules

1. There should be a minimum of 2 partners to create LLP incorporation.
2. You can start with any amount of the share capital of the partners. There is no concept of authorized shared capital like a Private Limited Company.

 

A common question has arisen among the public:

Is it mandatory or compulsory to register the partnership agreement under LLP?

The answer is Yes, it is to file and register the partnership agreement under limited liability partnership according to Section 2(0) and (q), 22 and 23 Act.

 

What are the Documents required for registering LLP?

The documents of both the partners with the partnership firm are needed to submit for LLP registration.

 Documents of the Business Partners

• ID proofs: all the partners are required to submit their PAN cards at registration. This is the primary ID proof identified as the partners.
• Address  Proof:  The address proof of each partner is required. Partners should submit any address proof like voters ID, Passport, Driver’s license, and Aadhar Card. The name and address in the address proof and PAN card should be the same. If there are any mistakes in the name spelling, father’s name, and date of birth they should be corrected before submitting to the RoC.
• Residence proof: the partner’s residence proof like the current Bank statement, mobile bill, electricity city bill, or gas bill should be submitted as residence proof. This bill should be more than 2 months old and the name of the partner should be present on the PAN card.
• Photo: Partners should have passport size photos (recommended white background pic) 
• Passport: This is required when your partner is of another nation. For becoming a partner in Indian LLP registration.
• The foreign nationals or NRIs should need to submit their Passport compulsorily. The password has to be notarized by the relevant authorities in the country of such foreign nationals. Or An Indian embassy situated in that country can also sign the documents.
• Foreign nationals must submit an address proof of driving license, bank statement, residence card, or any id proof issued by the government which includes the address. but if the documents are in other languages than English then a notarized translation copy also will be required to be attached.

 

Documents for LLP firm

• Registered office address proof should be submitted within 30 days of incorporation. in case your office is rented. the rent agreement and the no-obligation certificate from the landlord have to be provided. This allows the consent of the landlord as the place for LLP registration.
• Any bill submitted like gas bill, electricity bill, or telephone bill must contain the complete address and owner’s name. Also, the documents should not be older than 2 months.
• If the registration is online a digital signature certificate is needed. one of the designated partners needs to opt for a digital signature as all the documents and applications are digitally signed and authorized if done online.

 

The  Process of LLP registration Kerala 

The LLP registration process can be explained by dividing it into 3 stages. The process can be as follows:

 

Stage 1: 

• Identify the Partners
• Identify the  Designated Partners
• Determine the profit ratio of capital contributed by the partners
• Decide the asset of the LLP
• Decide on proposed Names of the LLP
• Decide the state in which the LLP is to be registered.

 

Stage 2: Documentation and the Registration process

• Obtain Digital Signature Certificate (DSC) for Designated Partners as the LLP registration is online
• Obtain Director Identification Number for Directors.
• Apply for Name of LLP
• Consent letters from each of the business Partner and Designated Partner
• Execute LLP Registration Documents (after name approval)
• LLP Registration Documents are submitted to the Registrar of Companies (ROC)
•  Process of Registration and Certificate of Incorporation

 

Stage 3: LLP Agreement

• Execution of LLP Agreement by partners
• Filing of LLP Agreement with Registrar.

 

LLP Registration Kerala

An entrepreneur would already have set up a fair share of the business structure taking place. I have selected the LLP business type for your business then we can help you with the registration and take the final decision.

The structure of LLP benefits can be of two forms they are partnership and private limited company. Both forms of business can be benefited 

 

Key basics  to be noted before LLP registration

 

• The concept of LLP first came into force in India under the LLP Act 2008.
• The designated partners registered to LLP get operational flexibility with a separate legal existence of the company.
• The partners are only liable to pay the amount contributed by them to the company.
• LLP business has very less complications when compared to other business structures.
• An LLP business requires minimum 2 partners out of which at least one partner must be an Indian citizen who has stayed in India for at least 182 days(a resident)
• The LLP agreement carries the rights and responsibilities of the partners along with the provision of specified rights and responsibilities.

 

LLP registration-one of the most preferred forms of business structure in India.

The registration process takes about a minimum of 15-20 working days. We have made the procedure easy for you to follow. You will be needed the help of a practicing professional to get the registration process done quickly and smoothly. That’s where the Fobup solutions team can help you.

 

Digital Signature Certificate (DSC)

LLP registration process in India or Kerala is done online and hence the procurement of a digital signature certificate for all the partners is mandatory. All the documents are  submitted digitally and signed using the DSC before submitting them to MCA. Every partner should provide their PAN card, identity proof, address proof, and passport size photo to apply for the digital signature certificate

 

Director Identification Number (DIN)

The Director identification number is another mandatory/compulsory document for all the designated partners of the LLP.  the DIN is allotted by the state ROC (Registrar of Companies) to respective Partners. Aadhaar or PAN cards original with self-attested copies are required, along with the DSC of the designated partners.

 

Name Approval of LLP

Selecting the name for the company is to be done very carefully and also the name should be unique. the RUN(Reserve Unique Name) LLP form is filed in the MCA portal. Before the name submission, our team will check the suggested name to check its uniqueness and also make sure of getting the name rejected for any reason. We can also submit 2 names for approval along with the form. In some cases the name may be rejected at this time will get one more chance to submit 2 other names.

 

LLP Incorporation

Form for incorporation of Limited Liability Partnership(FiLLiP) is the next form to be filed to register an LLP company in India. If the partners do not have DIN(Directors Identification Number), they can apply for it at this stage they can apply for it under this form. Once the FiLLiP is accepted, a certificate will be issued by the authority which serves as legal proof to carry out business operations anywhere in India. Limited Liability Partnership Identification Number, a 7-digit number is allotted to all LLP firms registered anywhere in India.

 

Applying for PAN and TAN

Therese two IDs are very important in any business carried out legally. The business operations are done legally and required by a file levied by the government of India. Getting PAN (Permanent Account Number) and TAN (Tax Account Number) for LLP is compulsory.

 

LLP Agreement

This is the last stage of LLP registration. This agreement consists of documents containing the rules and responsibilities that should be followed by the designated partners of the company. It is mandatory to file for an agreement within 30 days of LLP registration otherwise additional fees are charged for the delay. the agreement is in your hands, it needs to be printed on stamp paper. Stamp duty varies in every state and is calculated on the basis of the capital. You can check the state-wise rates of stamp duty on the LLP on google.

 

These are the entire process of LLP registration performed in India. With Fobup’s strong team we will be with you throughout the complete registration process till it gets approved. Get ready to start your business? Dropdown your details with us and our expert team will talk to you

Do you need professional help for LLP Registration?

Then visit our expert team of Fobup solutions to get your company registered.

Hope this article was helpful. Any doubts regarding the registration kindly pick up your phone to make a call and speak to our experts.