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LLP REGISTRATION

Avail benefits of partnership & Company,

Register your Limited Liability Partnership starting Rs. 7000/- only.

 

(Takes 7-15 days)

Limited Liability Partnership (LLP) Registration

Limited Liability Partnership (LLP) was introduced in India by way of the Limited Liability Partnership Act, 2008. The basic premise behind the introduction of Limited Liability Partnership (LLP) is to provide a form of business entity that is simple to maintain while providing limited liability to the owners.

The main advantage of a Limited Liability Partnership over a traditional partnership firm is that in a LLP, one partner is not responsible or liable for another partner’s misconduct or negligence. A LLP also provides limited liability protection for the owners from the debts of the LLP. Therefore, all partners in a LLP enjoy a form of limited liability protection for each individual’s protection within the partnership, similar to that of the shareholders of a private limited company. However, unlike private limited company shareholder, the partners of a LLP have the right to manage the business directly.

LLP is one of the easiest form of business to incorporate and manage in India. With an easy incorporation process and simple compliance formalities, LLP is preferred by Professionals, Micro and Small businesses that are family owned or closely-held.

LLP Benefits

What Is Included In Our LLP Registration Package?

Documents required for registration of an LLP

1. PAN Card– Scanned self attested PAN Card of all partners Foreign nationals may provide passport
2. Partners Identity Proof– Scanned self attested Aadhar Card/ Voter ID/ Passport/ Driving License of all partners
3. Partners Address Proof– Scanned self attested Electricity bill/Telephone or mobile bill/Bank statement
4. Business Address Proof – Latest Electricity Bill/ Telephone Bill of the registered office address/Rent agreement/Sale deed, if owned
5. NOC from owner – No Objection Certificate to be obtained from the owner of registered office
6. In case of NRI or Foreign National, documents of the partner must be notarized or apostilled.

Note: Your registered office need not be a commercial space; it can be your residence, too.

Procedure for Registration

Complete our LLP Form

You need to fill our simple LLP online questionnaire and submit LLP documents.

Obtain DSC and DPIN for LLP

After submitting your documents we will provide you with DSC and DPIN

LLP Verification & Name Approval

Details provided by you will be verified & then we shall apply for LLP name approval.

LLP Document Submission

We will create all the required documents and file them with ROC for your LLP.

Your work is completed

Once your LLP is incorporated, we shall send you LLP certificate and DSC

Steps for Registration as LLP

Obtain DSC

Apply for DIN

Name Approval

Incorporation of LLP

File LLP Agreement

Annual Compliances Requirements after the LLP Registration

After the finish of the formation process, LLP is expected to comply with the annual compliance requirements. These compliances are compulsory to meet irrespective of the fact that they have started a LLP or not. If the number of transactions after the LLP registration is 0, then LLP will record NIL return.

Following returns are expected to be registered:

  1. Statement of Account & Solvency
    2. LLP Annual Return
    3. Income Tax Return

Why to Choose LegalSahayata?

Low Price

No Office Visit

No Hidden Cost

Charges After Work Completion

LLP name structure

Helps in easy approval of name, and to create distinct identity

Clearly communicate your business activity

The name of the registered LLP must end with LLP or Limited Liability Partnership as a suffix.

Frequently Asked Question

There should be at least 2 people required as partners or designated partners in the Limited Liability Partnership. The person can be anyone either an individual or any business entity who is having PAN, but if any business entity becomes the partner or designated partner then it must appoint an individual person to act as its authorized representative.

There is no minimum capital requirement at the time of registration of a Limited Liability Partnership. The partners can start their LLP with any amount.

Once the LLP is get registered it is valid till the time period mentioned in the LLP agreement or till the period when the partners mutually agree to wind up. If there is no fixed time that is mentioned in the LLP agreement, then it is valid as long as it complies with its annual compliances requirements.

LLP Agreement is an agreement executed by all partners after LLP incorporation in India. The agreement prescribes all the clauses related to business, including the rights, roles, duties, and responsibilities of partners in LLP. The agreement must be filed within 30 days of the issue of a certificate of incorporation. Failure to do so will charge an additional fee of ₹ 100 per day till the date of filing.

The amount of capital contribution is taken into consideration in deciding the stamp duty on the LLP Agreement in India. The rate of stamp duty varies from State to State. The State Stamp Act will be applied depending on where the registered office is situated. The amount of ₹ 500 is included in our package cost. Further, the Notary on the Agreement is not a statutory requirement and not required by the MCA. A notary can be required by the bank officials but is not mandatory for incorporation of an LLP.

Yes, a private limited company or in public limited company can be converted into a Limited Liability Partnership after the approval of the Registrar. But the company should be an unlisted company.

No, the Limited Liability Partnership is a partnership in which the partners agree to share the profit but not-for-profit activity is an activity where there is no motive to earn any profit and essential objective of the LLP Law is to carry on a lawful activity with profit making intention, hence the LLP cannot operate Not-for-Profit activity.

Yes, every Limited Liability Partnership must have a registered office at the time of its registration as well as during the tenure of the Limited Liability Partnership. Whenever the Limited Liability Partnership shifts its registered office then it shall have to intimate about such shifting to the Registrar

The PAN and TAN used for the LLP formation can be applied once the Certificate of Incorporation of the Limited Liability Partnership is issued. The physical copy of the PAN will be received at the Registered Office once the same is dispatched by the Income Tax Department.

Once online LLP registration completes, the partners must open a bank account in the name of LLP for business transactions. There is no additional requirement to be fulfilled. However, the partners must deposit the agreed amount to contribute as and when required. Furthermore, the annual compliance filing must be fulfilled every year upon LLP registration.

Statutory audit in case of LLP registration depends on the turnover and contribution of the LLP. If the LLP turnover exceeds ₹ 40 lacs and/or the capital contribution exceeds ₹ 25 lacs, the financial statements must be audited by an eligible statutory auditor

Yes, a body corporate can be a Partner in an LLP. However, to fulfill the requirement of minimum Designated Partner, any of the two Partners or the nominee of the Body Corporate shall act as an authorized individual on behalf of the body corporate in the LLP

Yes, the partners or designated partner can alter the LLP agreement during the tenure of the Limited Liability Partnership. In the following situation the LLP agreement can be altered:

  • Adding or removing any partner or designated partner
  • Changes in the profit sharing ratio
  • The name change, address change, business activity change
  • Change in the capital either increasing or decreasing,
  • If any alteration in any clause of the agreement.

The liabilities of the partners or designated partners is limited to the extent to the amount of capital invested or agreed to be invested in the Limited Liability Partnership as per mentioned in the LLP agreement.

  • The Limited Liability Partnership is a registered entity whereas the partnership firm can be registered or not.
  • The Liabilities of the partners of LLP is limited, but in partnership firm the liabilities of the partners are unlimited.
  • The identity of the partners and LLP are different from each other, but in the case of partnership firm the partners and partnership firm is considered as one.
  • The LLP is registered with the MCA (Ministry of Corporate Affairs) whereas the partnership firm is registered with the registrar on the state level.
  • The LLP can take loan or debt or any property on its own name, but the liability is always with the partners in case of a partnership firm.

Yes, Foreign Direct Investment (FDI) is allowed in LLP under the automatic route in the sectors allowed by the Foreign Investments Promotion Board (FIPB). However, Foreign Institutional Investors (Flls) and Foreign Venture Capital Investors (FVCIs) will not be permitted to invest in LLPs. LLPs will also not be permitted to avail External Commercial Borrowings (ECB.)

Yes, an existing partnership firm or a company (unlisted) can be converted into LLP. There are many advantages to converting a partnership firm into an LLP.

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