How to Incorporate a New Limited Liability Partnership Registration India

How to Incorporate a New Limited Liability Partnership Registration India

Setting up a business as an LLP allows you to benefit from the advantages of both partnerships and corporations. Its separate legal entity status makes it distinct from traditional brick and mortar businesses and its members are not liable for each other's misconduct or negligence. It also provides tax benefits. You can start an LLP with as little as two partners, and there are no minimum capital requirements. However, you may be required to pay franchise taxes or federal payroll taxes if your business employs workers.

Before starting the process ofregistering an LLP, you must first register for a Director Identification Number (DIN) for all designated partners. This can be done through a government-recognized agency. Once the DIN is approved, you can file the LLP's incorporation documents with the Ministry of Corporate Affairs (MCA).

You must provide a valid PAN card and address proof for all partners. In addition to this, you must provide a passport-sized photograph with a white background.  You can use a valid voter ID, passport, or driver's license as an identity proof. A recent bank statement, telephone bill, or gas bill can serve as the address proof. If you are a foreign national, you must submit a valid passport as proof of residence.

You must also file a Form 2 to officially incorporate the LLP with MCA. You can do this by logging into the  Ministry of Corporate Affairs portal and following the instructions. Once the Registrar approves the application, you will receive an email stating that your LLP has been approved and has been allocated a DPIN. You can then log into the MCA portal and keep track of your application's status.

 

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