Having a checklist of LLP Registrations will help speed the process of Limited Liability Partnerships for Entrepreneurs. This ensures that the process is error free, seamless, and regulation compliant with the most recent MCA and Income Tax regulations. This guide encompasses all the nuances of your LLP Registration process with Lawfinity.

This LLP Registration checklist will help serve as your prelaunch playbook, whether you are a startup founder or a consultant. Incorporating the Limited Liability Partnership (Amendment) Act, the MCA’s FiLLiP form structure and the e-adjudication frameworks all of 2024 with hopes of making LLP Registration as streamlined as possible.

DOCUMENTS

LLP Registration requires documentation. Lack or incorrect documentation is the primary reason for rejections for online filing. Missing required documentation is the reason for your filings being rejected the first time. The LLP Pre-Registration Checklist is designed around this concept.

1. Identity Proof of Partners

For all designated partners, every foreign partner is required to provide a self-attested PAN card (mandatory for Indian citizens) and a passport copy duly attested by a notary or apostille authority. This step ensures the LLP Registration records are aligned with the KYC records in the Government.

2. Partners' Address Verification.

The most current Aadhaar card, voter ID, driver’s licence, and passport are all accepted. For NRIs, a bank statement and a utility bill (not older than two months) are also sufficient. Address and spelling discrepancies compromises FiLLiP inclusion and represents a major risk in LLP Pre-Registration Checklist.

3. Photographs and Their Contact Information.

Each partner needs to provide a digital passport-size photograph, a personal valid email ID and a mobile number. These are required for OTP-based verifications for LLP Registration.

4. Documents for the Registered Office.

It is required for an LLP to have and provide a valid registered office address in India consisting of:

● Electricity Bill, Gas Bill, or Water Bill (within 2 months)

● Rent Agreement (if rented property)

● NOC from Property Owner (if property is leased or rented)

All of the above are crucial to the LLP Pre-Registration Checklist as it shows the legitimate address of the business.

5. Digital Signature Certificates (DSC).

Every designated partner is required to acquire an active DSC from a certifying authority. Without this, they're unable to electronically file documents on the MCA portal. The DSC is the digital cornerstone of the entire LLP Registration process.

6. Preparation of the LLP Agreement

Although it is submitted after incorporation (in Form 3), the LLP Agreement should be drafted in advance. It outlines:

● Capital contribution

● Profit-sharing ratio

● Roles, rights, and duties of the partners

● Admission and exit procedure

Preparing it early will ensure a smoother workflow; this is a major step that a lot of entrepreneurs miss in their LLP Pre-Registration Checklist.

PARTNER REQUIREMENTS

An equally important step in the LLP Registration checklist is deciding who can be a partner and the number of partners required.

1. Minimum Partner Rule

For LLP Registration a minimum of two partners is required, one of whom has to be a resident of India. There is no maximum limit on the number of partners which provides significant leeway compared to the old-style partnerships.

2. Designated Partner Identification Number (DPIN/DIN)

Every designated partner must possess a DIN (Director Identification Number) or get one for themselves during the FiLLiP filing. Lawfinity makes sure this is included in every LLP Pre-Registration Checklist to prevent clients from compliance delays having to deal with this later.

3. Eligibility

○ Partners can be individuals or body corporates (companies, LLPs, etc.).

○ Partners cannot be minors, insolvent individuals, or individuals barred from the law.

○ When a body corporate is a partner, a nominee must be designated to represent the interest of the body corporate.

4. Resident Partner Requirement

At least one designated partner must reside in India for 120 days or more in the preceding financial year. This requirement is frequently overlooked but is crucial for obtaining a valid LLP Registration.

5. Capital Contribution

While no fixed minimum capital requirement is specified, partners should define their contributions, whether in cash, property, or other tangible/intangible assets. This must be included in every LLP Pre-Registration Checklist as it impacts the stamp duty liability when signing the LLP Agreement.

OFFICE PROOF

A registered office is where all statutory communication is sent after LLP Registration. The MCA requires proof of this along with proper documentation.

1. Ownership Proof

If the property is owned, provide a recent utility bill (within 60 days) that has the owner's name printed as well as the full address, and that it matches exactly the address in Form FiLLiP.

2. Rental or Lease Premises

For this requirement, the following items must be provided:

- A valid rent agreement

- Owner’s NOC stating the property is allowed for business use

- A utility bill to verify ownership

Mismatches in documentation could result in delays to your LLP Registration approval. It is therefore essential to ensure this portion of the LLP Pre-Registration Checklist is handled meticulously.

3. Virtual Office or Co-working Space

Co-working spaces are a prevalent option for operating start-ups. As long as the lease agreement states “commercial use permitted” and is accompanied by an NOC and utility bill, the MCA will accept such addresses. Furthermore, make certain that all correspondence, particularly post-LLP Registration, is directed to your registered address.

4. Change of Office

If you intend to change your office later and still remain compliant, Form 15 must be filed within 30 days of the move. Lawfinity guarantees that such compliance is scheduled in advance so your LLP Registration status remains uninterrupted.

HOW LAWFINITY PREPARES YOU

Precision and compliance with simplicity are the key pillars in which Lawfinity focuses on for your LLP Registration. As part of the internal LLP Pre-Registration Checklist, we verify that your documentation, partner details, and registered office proofs are all aligned with the expected MCA standards prior to submission.

1. Complete Document Validation

Before submission, our team verifies all:

○ Identity and address proofs

○ DSC and DIN applications

○ Lease deed or ownership proofs

○ Partner contribution details

To identify and prevent potential issues with MCA rejections, all documents go through check quality verification before they are uploaded.

2. Digital Support in Real Time

We assist in obtaining DSCs, conducting OTP-based validations, and aligning each partner’s details to the FiLLiP form so that LLP Registration is 100% online and trouble-free.

3. LLP Agreement

We prepare comprehensive LLP Agreements that comply with the state’s stamp laws. Ownership and profit sharing are delineated. This ensures all legal requirements are met in your LLP Pre-Registration Checklist.

4. Compliance Setup After Registration

Post LLP Registration, Lawfinity offers:

○ Annual compliance schedule

○ Tax filing notifications

○ Form 11 and Form 8 deadlines

○ Optional GST or Prof Tax registration

This ensures compliance requirements are fully met, enabling founders to seamlessly move from the formation phase to functional operations.

5. Fee Conformity and Assistance

Lawfinity allots time to prepare and divide the report for clients to include both the government and professional fees. This promotes transparency and trust. Our advisors are always available to help tailor the LLP Pre-Registration Checklist to your specific type of business, whether consulting, service, or manufacturing.