cost to register a llp company in india
Simplifying the Process and Cost of Registering an LLP Company in India
Introduction:
In recent years, India has witnessed an upsurge in entrepreneurial ventures, with a significant increase in the number of Limited Liability Partnership (LLP) companies being registered. The legal framework set by the Indian government and the ease of doing business initiatives have made it relatively simpler for aspiring entrepreneurs to establish their businesses as LLPs. This article dives into the process and cost involved in registering an LLP company in India, catering specifically to the Indian audience.
Process of Registering an LLP Company in India:
1. Choosing a Unique Name:
The first step towards registering an LLP company in India is selecting a unique name that represents the nature of the business. The chosen name must comply with the guidelines laid out by the Ministry of Corporate Affairs (MCA). The availability of the proposed name can be checked through the MCA portal or by contacting a professional service provider.
2. Obtaining Digital Signature Certificates (DSC):
DSC is essential for digitally signing electronic documents submitted during the registration process. At least two designated partners of the LLP need to have obtained DSCs from certifying authorities approved by the Controller of Certifying Authorities, India.
3. Obtaining Director Identification Number (DIN):
Similar to DSC, Designated Partner Identification Number (DPIN) serves as a unique identification for designated partners of the LLP. DIN can be obtained by submitting an online application to the MCA, along with necessary documents such as identity and address proof.
4. Document Preparation:
The next step involves preparing necessary documents such as the LLP agreement, subscription sheets, and consent letters from designated partners. It is essential to carefully draft the LLP agreement to define the rights, duties, and obligations of the partners.
5. Filing of Incorporation Documents:
Once the documents are prepared, they must be filed with the MCA through the LLP eForm. The required information includes LLP name, registered office address, details of designated partners, and capital contribution. The eForm should be digitally signed by partners or professionals authorized by the designated partners.
6. Payment of Fees:
The MCA charges a fee for registering an LLP company based on the proposed capital contribution. The fee structure may vary from time to time, and the updated fees can be checked on the MCA portal. Additionally, professional service providers may charge a nominal fee for assisting with the registration process.
7. Certificate of Incorporation:
Upon successful verification of the documents, the MCA will issue a Certificate of Incorporation. This certificate serves as conclusive evidence of the formation of the LLP. The certificate contains important details such as LLP identification number (LLPIN) and the date of incorporation.
Costs Involved in Registering an LLP Company in India:
The cost of registering an LLP company in India may vary depending on multiple factors. However, the approximate cost breakdown is as follows:
1. Digital Signature Certificates (DSC):
The cost of obtaining DSCs for two designated partners may range from INR 1,000 to INR 2,000, depending on the chosen certifying authority.
2. Designated Partner Identification Number (DPIN):
The application for obtaining DPIN from the MCA is currently free of charge.
3. Professional Service Fees:
Many entrepreneurs prefer seeking professional help to ensure a seamless registration process. The fees charged by professional service providers can range from INR 5,000 to INR 20,000, depending on their expertise and the scope of services required.
4. Government Fees:
The government fee for registering an LLP company is based on the proposed capital contribution. As of the latest fee structure, a fixed fee of INR 500 is applicable for capital up to INR 1 lakh. Beyond that, the fees increase as per the capital bracket.
Conclusion:
Registering an LLP company in India has become a relatively streamlined and cost-effective process, fostering the growth of entrepreneurship and ease of doing business. By following the step-by-step process mentioned above, aspiring entrepreneurs can fulfill their dream of establishing a legally recognized business entity. While cost is an important consideration, seeking professional assistance can reduce the complexities and enhance the efficiency of the registration process. The Indian government’s commitment to simplifying the process of registering LLP companies demonstrates their dedication to encouraging entrepreneurship and fuelling economic growth within the nation.,
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cost to register a llp company in india
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