Partnership Firm Registration

A Partnership firm is a business entity created by persons who have agreed to share profits or loss of the business. Partnerships are a very good choice of business entity for small enterprises wherein two or more persons decides to contribute to a business and share the profits or losses. In India, Partnerships are widely prevalent because of its ease of formation and minimal regulatory compliance. Also, the concept of LLP was introduced only in 2010, whereas the Partnership Act, 1932 has been in existence before the independence of India. Hence, partnership firms are the most prevalent type of business entity wherein a group of people are involved.

Essential elements for the Incorporation of LLP

As per the LLP Act, 2008, the following elements are necessary to include LLP in India:

  • Complete and submit the incorporation document electronically with the Registrar in the prescribed form.
  • Having at least two partners, each individual or body corporate and a registered office in India for sending and receiving communication.
  • Appoint at least two individuals as designated partners. They will be responsible for doing all the functions, affairs and things that the LLP does. Also, nominated partners must be resident in India.
  • Each designated partner must have a designated partner identification number (DPIN) assigned by the Ministry of Corporate Affairs (MCA).
  • Execute agreements between partners or between LLP and its partners. Further, if no agreement exists, the provisions in the First Schedule to the LLP Act, 2008 apply.
  • Name of LLP. It is important to note that the name should be different. LLP cannot have a name that another LLP or partnership firm or company is currently using.




  • The Content of An LLP Agreement

  • LLP Name
  • Names and addresses of partners and named partners
  • Form of cooperation and interest on contribution
  • Sharing ratio
  • Remuneration of partners
  • Rights and duties of partners
  • Proposed Occupation
  • Rules for governing the LLP


  • Procedure for Incorporation of an LLP:

    The following points need to be ensured for the inclusion of LLP:


  • Appoint/nominate partners and designated partners.
  • Obtain DPINs and Digital Signature Certificates (DSCs)
  • Register a unique LLP name (applicant may indicate up to 6 options)
  • Draft LLP agreement
  • Enter required documents electronically
  • Apply for Certificate of Incorporation with LLPIN (Limited Liability Partnership Identification Number)





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    Steps for the incorporation of an LLP

    Step 1


    Reserve the name of LLP. The applicant files e-Form 1 to ascertain the availability and register the LLP's name. Once the Ministry has approved the name, it is reserved for the applicant for 90 days. Also, if the LLP is not included within that time frame, the reservation is removed and the name is made available to other applicants.

    Step 2


    Incorporation of a new LLP. The applicant files an e-Form 2 containing details of the proposed LLP as well as the partners and designated partners.

    Step 3


    To act in the said role with the consent of the partners and designated partners.

    Step 4


    File the LLP agreement with the registrar within 30 days of incorporating the LLP. Applicant files e-Form 3. As per Section 23 of the LLP Act, 2008, the execution of the LLP agreement is mandatory.

    Step 5


    Upon approval of the LLP agreement, the process of incorporation of the LLP is completed.

    Step 6


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