LLP Registration in Pune

Also called Oxford of the east, Pune is the second-largest city in Maharashtra. It’s a leading metropolitan city when it comes to education, the IT sector, the manufacturing sector, etc. If you’re thinking of starting a business in Pune, going for LLP registration may be the right choice for you. Let’s go through this article to understand why in-depth.

Why should you choose Pune?

Over the last couple of years, Pune has grown manifold becoming one of India’s hubs for new ventures, primarily in the IT sector. It’s also a leading city when it comes to education-related businesses. With a flourishing economy and high per-capita economy, Pune is one of the best cities to start a business. Pune is full of people from all over the country and has an extremely young population making it perfect for startups.

Why you should go for new LLP registration in Pune

An LLP or limited Liability Partnership is a type of business structure that gives you the advantages of companies and Partnership firms. For a new startup, going for an LLP is perfect because it carries a low cost of registration, very few complications, and no minimum capital. Additionally, you can always convert an LLP into a company later on once the startup takes off and you have the kind of capital required for a company. 

Advantages of LLP registration in Pune

• Limited Liability Partnerships have their own separate legal identity like companies. Because of this, the partners are not personally liable for the LLP’s actions. The liability of each partner is limited beforehand based on their contribution to the LLP.
• While LLPs all have to bring something to the table, it doesn’t have to be monetary. Their contribution can just be work experience or certain required skills.
• Limited Liability partnerships can easily be transferred from one owner to another.

Important Documents for new LLP Registration in Pune

For Limited Liability Partnership registration to be partners have to provide the  following documents:

• Copies of the to-be partners’ PAN Cards
• Identity proof of copies of the to-be partners (Aadhar Card, Passport, Driving License, etc)
• Copies of the to-be partners’ Address Proof (Electricity bill, water bill or any other utility bill)

Additionally, the following documents have to be provided for the registered office:

• Proof of address for the Registered Office (Utility Bills)
• NOC (No Object Certificate) from the owner of the property if the registered office is on rent
• A copy of the Rental Agreement if the registered office is on rent
• DSC (Digital Signature Certificate) of at least two partners

Procedure for LLP Registration online

1. The first step is to apply for DIN or DPIN. At Least two partners need to apply for DIN. This is because you need a minimum of two directors for LLP registration.
2. The second step is to apply for DSC. Once again at least two Partners need to apply for this for LLP registration. 
3. After this, you have to apply for a name reservation for an LLP. You can do this by using the RUN service which is available on the MCA (Ministry of Corporate Affairs) website. 
4. After all of that, you can apply for Limited Liability Partnership incorporation via FiLLiP form which is also available on the MCA website. 
5. Finally, you need to draft and submit your Limited Liability Partnership agreement within 30 days of incorporation. 

Some other pointers for LLP Registration online in Pune

• Every Limited Liability Partnership requires a minimum of 2 partners for incorporation
• At least one of the Partners needs to be Indian and residing in India.
• LLP registration takes only about 15-18 days via LegalWiz.in’s service.  (depending on MCA approval)
• Limited Liability Partnerships have no minimum capital requirement. However, every partner must contribute something to the LLP, be it monetary or non-monetary.
• Partners also have to apply for DIN (Director identification number) or DPIN (designated partnership identification number)

LLP Registration Costs 

LLP Registration process carries the following costs:

Frequently Asked Questions

Can one person start an LLP in Pune?

There are a minimum of two partners required to start an LLP. However, if you want to start a business as one person, you can always go for one-person companies.

Do LLPs have Directors?

LLPs do not have directors or shareholders. They only have partners/members. The job of the director is done by partners.

Do LLPs in Pune has to charge TDS?

Limited liability Partnerships are not required to charge TDS while making payments to their partners. They can easily set off any payments made by any of the partners via remuneration.

Who is the owner of an LLP?

All the partners in an LLP own that limited partnership firm. They are the ones that manage all day-to-day activities as well as the finances of the LLP.