Limited Liability Partnership Registration
At Just Rs 7,499/- (All inclusive)
Completely online process
Work handled by professionals
Within 15-20 Days
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What is Limited Liability Partnership Company?
A Limited Liability Partnership, popularly known as LLP has a separate legal entity and combines the advantages of both the Company and Partnership into a single form of organization. In an LLP one partner is not responsible or liable for another partner’s misconduct or negligence, this is an important difference from that of a unlimited partnership. In an LLP, all partners have a form of limited liability for each individual’s protection within the partnership, similar to that of the shareholders of a corporation.
Limited Liability Partnership is managed as per the LLP Agreement, however in the absence of such agreement the LLP would be governed by the framework provided under Limited Liability Partnership Act, 2008 which describes the matters relating to mutual rights and duties of partners of the LLP and of the limited liability partnership and its partners.
Advantages of LLP Company Registration
As Compared to partnership,there is no restriction on maximum number partners,the only requirement is of having minimum number of partners which is 2
Flexible to Manage
Partner can decide the way they want to run and manage the LLP, in form of LLP Agreement. The LLP Act to large extent rather than allows partners the liberty to manage it as per their will and fancies..
The greatest benefit of formation of LLP is limited liability of its partners.Partners of the LLP shall only be liable to the extent of their Capital contribution.
LLP enjoys various tax advantages and can claim various expenses like Salary to Directors, Professional Fees, Audit fees, Rent and Depreciation on its Assets.
Continuity of Existence
Limited Liability Partnerships (LLP) enjoy permanent succession just like a Limited Company as it is a separate legal entity in the eyes of Law.
Financing a small business like sole proprietorship or partnership can be difficult at times. A LLP being a regulated entity like company can attract finance from PE Investors, financial institutions etc.
Documents For LLP Company Registration
- Copy of PAN Card
- Copy of Adhar Card/ Voter ID Card
- Electricity / Water Bill
- Landlord NOC (as per format given)
- Passport size photo of directors
- Copy of rent agreement
- Copy of owned property papers (if)
Cost Of LLP Company Registration
|TAN & PAN Fees||180|
Procedure For Registering LLP Company
Obtaining The DSC and DPIN(1-2 Working Day)
- Initially DSC and DPIN is required to be obtained for the Partners of the proposed LLP. It can be obtained within 1-2 working days.
Application for Name approval(3-4 Working Day)
- After obtaining the DSC and DPIN of the proposed partners, our team will get in touch for a unique name and make a application for the name approval.
Document Submission(2-3 Working Day)
- After name approval of proposed LLP, we shall prepare a LLP agreement and and shall file it to the Registrar. After review Registrar shall register the LLP.
FAQ’s On LLP Company Registration
How can an existing partner cease to be a partner of an LLP?
Person may cease to be a partner of a limited liability partnership in accordance with an agreement with the other partners or, in the absence of agreement with the other partners as to cessation of being a partner, by giving a notice in writing of not less than thirty days to the other partners of his intention to resign as partner.So, stepping down of a designated partner will either be in accordance with the LLP agreement signed during the incorporation of the company or by giving a notice, whose specimen is given in Form 13of LLP Rules, 2009, to other partners.
How can a person become a partner of an LLP?
Persons, who subscribed to the “Incorporation Document” at the time of incorporation of LLP, shall be partners of LLP. Subsequent to incorporation, new partners can be admitted in the LLP as per conditions and requirements of LLP Agreement.
What will be the obligation of a partner in case he changes his name or address?
Every partner shall inform the LLP of any change in his name or address within a period of fifteen days of such change. The LLP, in turn, would be under obligation to file such details with the Registrar within thirty days of such change.
Whether every LLP would be required to maintain and file accounts?
An LLP shall be under obligation to maintain annual accounts reflecting true and fair view of its state of affairs. A “Statement of Accounts and Solvency” in prescribed form shall be filed by every LLP with the Registrar every year.
Which documents will be available for public inspection in the office of Registrar?
The following documents information will be available for inspection by any person:- Incorporation document, Names of partners and changes, if any, made therein, Statement of Account and Solvency Annual Return The manner and fees for such inspection shall be prescribed in the rules.
Whether audit of all LLPs would be mandatory?
Audit of LLPs shall be mandatory. However a more simplified compliance regime for small LLPs is being proposed by exempting such LLPs from the requirement of audit by exemption through notification by the Central Government.
Whether two LLPs would be allowed to merge?
Provisions of clauses 60 to 62 of the Act provide for the manner in which compromises or arrangements including mergers and amalgamations involving LLPs shall be allowed.
Whether any Annual Return would be required to be filed by an LLP?
Every LLP would be required to file with ROC, every year, an Annual Return, contents of which would be prescribed under rules.
What would be the provisions in respect of winding- up of LLPs?
It is proposed to provide the provisions and procedures required to be complied with when the affairs of an LLP are to be wound-up and dissolved, by enabling the Central Government to make rules under the LLP Act, 2008.