LLP Registration in Chennai

What is LLP Registration?

Limited Liability Partnership (LLP) registration is the process of forming a business entity under the Limited Liability Partnership Act, 2008, in India. An LLP combines the features of a partnership and a corporation, providing partners with limited liability protection while allowing them to maintain operational flexibility.

This registration allows the business to operate as a separate legal entity, distinct from its partners, which means that the personal assets of the partners are protected from business debts and liabilities. The LLP structure is particularly appealing to small and medium-sized enterprises (SMEs) and startups, as it offers- 

• Limited Liability Protection
• Separate Legal Entity
• Flexible Management
• No Minimum Capital Requirement
• Perpetual Succession
• Easy Compliance

Benefits of Registering an LLP in Chennai

Here are the key benefits of LLP registration online in Chennai:

Limited Liability Protection

Partners are shielded from personal liability for the debts and obligations of the LLP, protecting their personal assets.

Separate Legal Entity

An LLP is recognised as a separate legal entity, allowing it to own property, enter contracts, and sue or be sued in its name.

Flexible Management Structure

LLPs provide the freedom to create a customised management structure and operational guidelines through the LLP agreement.

Minimal Compliance Requirements

Compared to private limited companies, LLPs have fewer regulatory compliance obligations, making management easier and less time-consuming.

Perpetual Succession

The existence of the LLP is not affected by changes in ownership or the departure of partners, ensuring continuity.

No Minimum Capital Requirement

LLP incorporation does not require a minimum capital investment, making it accessible for small businesses and startups.

 Greater Operational Flexibility

Partners have the freedom to determine their roles, responsibilities, and profit-sharing ratios, tailoring the LLP to their specific needs.

Eligibility for Registering an LLP in Chennai

To register a Limited Liability Partnership (LLP) in Chennai, certain eligibility criteria must be met. Here’s a breakdown:

Minimum Number of Partners

A minimum of two designated partners is required to form an LLP. There is no maximum limit on the number of partners.

Designated Partners

At least one designated partner must be a resident of India. This ensures that a local representative is responsible for compliance and management.

Age Requirement

All designated partners must be at least 18 years old at the time of registration.

No Disqualifications

Designated partners should not be disqualified under any law for the time being in force. This includes restrictions on individuals who have been declared insolvent or have pending criminal charges.

Documents Required for LLP Registration in Chennai

You must provide several important documents when registering a Limited Liability Partnership (LLP) in Chennai. Here’s a comprehensive list:

LLP Registration Process in Chennai

Registering a Limited Liability Partnership (LLP) in Chennai involves a series of steps designed to ensure compliance with legal requirements. Here’s a step-by-step guide to the LLP registration process:

• Step 1: Obtain a Digital Signature Certificate (DSC)

  The designated partners must obtain a Digital Signature Certificate (DSC) with a one-year or two-year validity period for signing electronic documents.
  

• Step 2: Name Reservation

  • Select a unique name for your LLP that adheres to the naming guidelines set by the Ministry of Corporate Affairs (MCA).
  • Submit the LLP Reserve Unique Name (RUN) form to the MCA. You can propose up to two names for approval.

• Step 3: Draft the LLP Agreement

  Prepare the LLP Agreement, which details the rights, duties, and profit-sharing ratio of the partners.
  

• Step 4: Fill and Submit FiLLiP

  • Complete the FiLLiP (Form for Incorporation of Limited Liability Partnership).
  • Submit it along with required documents like a Subscriber sheet and consent of a Director (Form DIR-9) 

• Step 5: Obtain a Certificate of Incorporation

  Once the Registrar verifies your documents, you will receive a Certificate of Incorporation.
  

• Step 6: File LLP Agreement

  File the LLP Agreement using Form 3 on the MCA portal. This must be completed within 30 days of receiving the Certificate of Incorporation.
  

• Step 7: Open a Bank Account

  Open a bank account in the name of the LLP. This is essential for managing your LLP's finances and operations.
  

Selection of a Company Name in Chennai & Trademark Process

A Company Name and Trademark Search is fundamental for a strong business foundation, ensuring your brand is distinctive, legally sound, and conducive to growth, avoiding potential legal issues.

It is advisable to conduct a company name and trademark search before LLP registration to check whether your chosen name and mark comply with the MCA guidelines. 

The next step is Trademark Registration which, helps you get exclusive rights and establish a unique identity. The process entails choosing a distinctive trademark, categorising it under relevant classes, and submitting a comprehensive application to the Trademark Registry, accompanied by the necessary documentation. 

Utilise our free search feature to instantly and accurately search Company Names, Trademarks, Domain Names, and Social Media Handles associated with your business name in a single click.

Searching for a company name?

Check company name availability using our powerful name search tool.

We offer details such as Company Identification Number (CIN), Allocation status, Incorporation date, and the state of an existing company, providing comprehensive information for informed decision-making. Get reliable information directly from the Trademark Database, MCA Database, and more- all in one place!

GST Requirements for LLP Registration in Chennai

GST, or Goods and Services Tax, is a value-added tax imposed on goods and services consumption in India. It becomes mandatory for entities engaged in buying, selling, or providing services if their turnover surpasses the specified threshold. If your business turnover exceeds Rs. 40 Lakhs (for goods) and Rs. 20 Lakhs (for services), obtaining GST Registration is obligatory.

The registration process involves:

1. Visit the GST Portal.
2. Click on "Register Now."
3. Complete the "Part A" form.
4. Fill out "Part B," submit business details, and upload the necessary documents.
5. The necessary documents include PAN, Aadhar, business registration documents, bank statements, and photographs of the proprietor/partners/directors.
6. After submission, the application undergoes verification, and upon approval, a GST registration certificate is issued.
7. The GST Certificate includes a GSTIN, a 15-digit state-wise identifier for businesses. The first 2 digits of the GSTIN denote the GST code of the respective state/territory, with Chennai (Tamil Nadu) being represented by the code 33.

Example of GSTIN for Chennai: 33AAQFB1222C1ZU

Once registered, comply with regular GST return filing obligations, including GSTR-1, GSTR-3B, and others, depending on the nature of the business. Adhere to the rules and guidelines set by the Government to avoid facing penalty charges. 

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LLP Forms

To register a new Limited Liability Partnership (LLP) in Chennai, specific forms must be submitted to the Registrar of Companies (ROC) as part of the process. Here’s a rundown of the key LLP registration documents:

1. Form RUN-LLP (Reserve Unique Name)

   • Purpose: Reserves the proposed name of the LLP, allowing up to two name options for approval.
     

   • When to File: After obtaining the Director Identification Number (DIN) and before submitting incorporation documents.
     

2. FiLLiP (Incorporation Document)

   • Purpose: Used to officially incorporate the LLP.
     

   • When to File: After reserving the name and drafting the LLP agreement.
     

3. Form 3 (LLP Agreement)

   • Purpose: Files the LLP agreement with the ROC, outlining the rights, responsibilities, and duties of partners.
     

   • When to File: Within 30 days of LLP incorporation.
     

4. Form 8 (Statement of Account and Solvency)

   • Purpose: Files the annual financial details of the LLP, including its solvency status.
     

   • When to File: Within 30 days after the end of the financial year.
     

5. Form 11 (Annual Return)

   • Purpose: Submits the annual return detailing partner contributions and other partnership information.

   • When to File: Within 60 days from the end of the financial year.
     

Company Registration Authorities in Chennai

1. Ministry of Corporate Affairs (MCA)

   At the central level, the Ministry of Corporate Affairs establishes the regulatory framework for company registration and governs corporate affairs across India. 
   

   The MCA website provides online services for company registration and compliance. It also gives access to vital reports and benefits from diverse services in various domains by registering through the official portal. 
   

2. Ministry of Micro, Small and Medium Enterprises(MSME)

   The Ministry of Micro, Small, and Medium Enterprises (MSME) is a government agency responsible for formulating and implementing policies, programs, and schemes for the development and promotion of micro, small, and medium enterprises in India.
   

   It aims to facilitate the growth and sustainability of these enterprises, fostering entrepreneurship and economic development at the grassroots level.

   While not compulsory, opting for MSME/ Udyam registration is a beneficial move for MSMEs in India. It provides official recognition and simplifies access to various government schemes and support mechanisms. 

   If your business falls under manufacturing, service industries, or wholesale and retail trade, you can apply for MSME registration, subject to meeting the eligibility criteria based on annual turnover and investment.

3. Registrar of Companies (RoC)

   Operating under the Ministry of Corporate Affairs (MCA), the Registrar of Companies (RoC) oversees and regulates the activities of businesses in India. Its responsibilities include approving the registration of new companies and limited liability partnerships (LLPs). 
   

   The RoC's vital function involves ensuring compliance among incorporated entities. This includes overseeing processes like director appointments and resignations, appointing auditors and company secretaries, and managing obligations such as filing annual returns, submitting financial statements, and adhering to post-incorporation compliances.
   

   Tamil Nadu has two RoCs, one in Chennai and the other one in Coimbatore. The current details of RoC (as of November 2023) for the Chennai Region, which regulates both Tamil Nadu and Andaman region, are: 
   

   • ROC- Chennai
     Email- roc.chennai@mca.gov.in 
     Address- Block No.6, B Wing, 2^nd Floor, Shastri Bhawan 26, Haddows Road, Chennai-600034, Tamil Nadu.
     

4. Registrar of Firms(RoF)

   The Registrar of Firms in Chennai is responsible for registering partnerships under the Indian Partnership Act of 1932. The office ensures that businesses operating as partnership firms are legally recognised and compliant with local regulations.

   In Tamil Nadu (which includes Chennai), the Registrar of Firms functions under the Department of Commercial Taxes and Registration.
   

5. Government of Tamil Nadu

   Based on the nature of the business, the Government of Tamil Nadu may issue essential licences and permits for specific activities, liaise with local authorities for trade licences, and facilitate Professional Tax registration for businesses.
   

   The state government actively collaborates with other regulatory bodies in developing and executing industrial policies that influence business registration and expansion.
   

   • The Greater Chennai Municipal Corporation may be involved in granting specific licences and registrations related to local business operations, such as​​ Trade Licences, Company Tax, Profession Tax, etc.  
     

   • To achieve the goal of facilitating entrepreneurs to run their businesses easily without any hassle, The Government of Tamil Nadu Labor Department is taking proactive steps to make the Tamil Nadu investor-friendly by implementing the Ease of Doing Business. 
     

     The Labor Department has developed an exclusive portal to facilitate ‘ease of doing business’ with facilities for Registration / Licencing/ Renewal / Amendments / Transfer & Closure under various Labour legislations, the Shop And Establishments Act being one of them.
     

6. Income Tax Department

   The Income Tax Department plays a vital role in the registration process, particularly in matters related to obtaining a Permanent Account Number (PAN) and Tax Deduction and Collection Number (TAN) for the company.
   

   Businesses involved in sectors such as insurance, financial services, broadcasting, and defence-related services are required to secure additional approvals and clearances from specific regulatory bodies. 
   

   This includes obtaining consent from entities such as the Reserve Bank of India (RBI), the Insurance Regulatory and Development Authority of India (IRDAI), the Securities and Exchange Board of India (SEBI), and the Ministry of Defence, among others. These approvals are crucial for ensuring lawful and secure operations within these industries.
   

Types of Companies You Can Register in Chennai

In Chennai, as in the rest of India, you can register several types of business structures. The choice of business structure depends on factors such as the nature of the business, scale of operations, ownership, and liability considerations. 

Here are the common types of companies that can be registered in Chennai:

1. Private Limited Company

   A Private Limited Company is privately owned and regulated under the Companies Act, making it a popular choice for startups and businesses.

   

   Register your Private Limited Company in just ₹1,499 + Govt. Fee

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2. Limited Liability Partnership

   An LLP, created under the Limited Liability Act 2008, offers limited liability and is often preferred by professionals and service providers.

   

   Register your Limited Liability Partnership in just ₹1,499 + Govt. Fee

   Register your business

3. One Person Company (OPC)

   An OPC merges Private Limited Company features with Sole Proprietorship benefits, offering a single individual a separate legal entity with limited liability protection.

   

   Register your One Person Company in just ₹1,499 + Govt. Fee

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4. Public Limited Company

   A Public Limited Company is a regulated business structure with limited liability that offers shares to the public for fundraising. It is ideal for large-scale multinational corporations.

5. Sole Proprietorship

   A Sole Proprietorship is ideal for small businesses and freelancers. It features a single owner who is personally liable for all business obligations and minimal compliance requirements.

6. Partnership Firm

   Under the Indian Partnership Act, a Partnership involves two or more individuals jointly sharing responsibilities, profits, and liabilities.

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Checklist for the LLP Registration in Chennai

Here's a comprehensive checklist for registering a Limited Liability Partnership (LLP) in Pune:

• Obtain Digital Signature Certificate (DSC)

• Draft LLP Agreement

• Reserve the LLP Name through the LLP-RUN form

• Submit Form FiLLiP for LLP incorporation

• Obtain a Certificate of Incorporation

• File Form 3 to submit the LLP Agreement within 30 days of incorporation

• Open a business bank account in the LLP’s name

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