Limited Liability Partnership (LLP)
Plans starting Rs 3,899/- only*
*T&C Apply. Excludes all Govt Fees and Taxes
Plans starting Rs 3,899/- only*
*T&C Apply. Excludes all Govt Fees and Taxes
for
LLP Registration
Basic Plan
- Scope of Business
- Instant Filling
- 4 Name Choice
- Application Form
- Documentation Preparation
- DSC Create
- Name Approval
Advanced Plan
- Document Submission
- Form Fill Up
- MCA Document Received
- Udyam
- GST
- Everything in Basic
Limited Liability Partnership (LLP) Registration in India
Limited Liability Partnership (LLP) is a business structure in India that combines the features of both a traditional partnership and a company. It was introduced under the Limited Liability Partnership Act, 2008, to provide a flexible and modern approach to business organization while offering the benefits of limited liability to its partners.
- Limited Liability: Partners in an LLP have limited liability, meaning they are only liable for the debts of the LLP up to their agreed contribution. Personal assets are protected from business liabilities, unlike in a traditional partnership.
- Separate Legal Entity: An LLP is a separate legal entity from its partners. This means it can own property, enter into contracts, and engage in legal actions independently of its partners.
- Flexible Management: LLPs offer greater flexibility in terms of management and operations compared to companies. There are fewer statutory requirements and compliance obligations, such as no need for holding annual general meetings.
- Unlimited Number of Partners: An LLP can have an unlimited number of partners, providing flexibility in terms of ownership and participation. This is in contrast to private limited companies, which are restricted to a maximum of 200 shareholders.
- No Minimum Capital Requirement: There is no statutory requirement for a minimum capital contribution to start an LLP, making it accessible for small and medium-sized businesses.
- Tax Benefits: LLPs benefit from tax advantages similar to partnership firms, including no Dividend Distribution Tax (DDT) and the ability to claim deductions and exemptions.
- Limited Liability: Protects the personal assets of partners from business liabilities.
- Perpetual Succession: The LLP continues to exist even if partners change or leave, providing stability.
- Lower Compliance Costs: LLPs have fewer regulatory requirements and lower compliance costs compared to private limited companies.
- Operational Flexibility: Allows for flexible business management and operations without the need for stringent corporate formalities.
- Improved Credibility: Registered LLPs have a higher credibility in the market, which can be advantageous for securing investments and business contracts.
- PAN Cards: PAN cards of all designated partners.
- Address Proof: Valid address proof of all partners (e.g., Aadhaar card, passport, voter ID).
- Proof of Registered Office: Recent utility bill or property tax receipt, and a rental agreement if applicable. A No Objection Certificate (NOC) from the property owner is required if the office is rented.
- Digital Signature Certificate (DSC): Required for all designated partners.
- Director Identification Number (DIN): DIN for all partners who will be designated as directors.
- LLP Agreement: Drafted agreement detailing the rights, duties, and responsibilities of partners.
- Obtain DSC: Digital Signature Certificates for all designated partners.
- Apply for DIN: Obtain Director Identification Numbers for all designated partners.
- Name Reservation: Reserve the name of the LLP through the RUN-LLP service on the Ministry of Corporate Affairs (MCA) portal.
- Prepare and File Documents: Prepare and file the incorporation documents, including the LLP Agreement, with the Registrar of Companies (ROC).
- Obtain Certificate of Incorporation: After verification, the ROC issues a Certificate of Incorporation, which signifies the official registration of the LLP.
LLP registration is a popular choice for professionals, small and medium-sized enterprises, and startups looking for a business structure that offers liability protection, operational flexibility, and ease of compliance.
Here are some key questions one might consider when evaluating One-Person Company (OPC) and Limited Liability Partnership (LLP) registration in India:
When considering a Limited Liability Partnership (LLP), you may have several questions to ensure you understand the structure, benefits, and requirements. Here are key questions related to LLP registration and management:
1. What is a Limited Liability Partnership (LLP)?
Understanding the definition and fundamental characteristics of an LLP.
2. What are the main advantages of forming an LLP?
Benefits such as limited liability, operational flexibility, and tax advantages.
3. Who is eligible to form an LLP in India?
Eligibility criteria for individuals and entities to register an LLP.
4. What documents are required for LLP registration?
Essential documents needed for the registration process, including proofs and forms.
5. What is the process for registering an LLP in India?
Step-by-step guide to the LLP registration process.
6. How is the liability of partners in an LLP different from that in a traditional partnership?
Comparison of liability protection between LLPs and traditional partnerships.
7. What are the compliance requirements for an LLP?
Details on annual compliance, filing requirements, and maintenance obligations.
8. Can an LLP have more than one partner? If so, what is the maximum number?
Information on the number of partners an LLP can have.
9. How does the management structure of an LLP work?
Understanding the roles and responsibilities of partners in managing the LLP.
These questions will help clarify various aspects of LLP registration, operation, and compliance, ensuring that you have a comprehensive understanding of this business structure.