What is LLP registration?

Limited Liability Partnership, is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities.The Legislature has enacted LLP Act 2008.on 9 January 2009 and has been notified with effect from 31 March 2009 LLP Offers more enhanced features as compare to tradition partnership. It can be registered with minimum two Partners. Limited Liability Partnership provided the benefits of both private limited and General Partnership into a single form of the LLP. Every partner is not responsible for another partner misconduct. Each partner have its own liability towards the Business. LLP is most preferred by a small business owners and for them who are not willing for huge funding in business. The Limited Liability Partnership has more trustable than a General Partnership. The Annual maintenance of LLP firm is much cheaper as compare Private limited or others.

Advantages of LLP

Separate legal
entity

Like a company, LLP also has a separate legal entity. So the partners and the LLP in are distinct from each other. LLP is a jurisdiction person who is created by law. This is like a company where partners are different from the company.

No requirement of minimum capital

Low capital required in LLP as compare to companies there should be a minimum amount of capital that should be brought by the members or owners who want to form it. But to start an LLP there is no requirement of minimum capital.

Minimum number of
members

To start a limited liability partnership at least two members are required initially. However, there is no limit on the maximum number of partners.

No requirement of compulsory audit

All the companies, whether private or public, irrespective of their share capital, are required to get their accounts audited. But in case of LLP, there is no such audit is mandatory. A limited liability partnership is required to get the audit done only if:

a. If the contributions of the LLP exceeds ₹ 25 lakhs.
b. If the annual turnover of the LLP exceeds ₹ 40 lakhs.

Disadvantages of limited liability partnership

LLPs as well have some limitations within. Some of them can be summarized as below.

1. Any act of the partner without the other partner may bind the LLP
2. LLP cannot raise money from the public.
3. Angel investors and venture capital firms generally prefer not to invest in LLPs. Private Limited is preferred over LLP

Pan and Identity proof of all partner
Address proof of all partner
Passport size photograph of all partner
Address proof of business premises
Any Utility bill
Scan copy signature

Our package includes

DSC OF TWO PARTNER
DPIN OF TWO PARTNER
LLP AGREEMENT PREPARATION
STAMP DUTY (CAPITAL CONTRIBUTION 100000)

Registration process

Step 1

DPIN Registration

Obtain digital signature for the partners. Apply for the DPIN (Designated Partner Identification Number) Designated Partner Identification Number (DPIN) is obtained for the proposed Partners of the LLP. DPIN and DSC can be obtained for the proposed Partners within 1 to 3 days..

Step 2

Name Approval

A minimum of one and a maximum of six names choices must be submitted to the MCA. Subject to availability, naming guidelines and MCA processing time, name approval can be obtained in 5 to 7 working days.

Step 3

LLP Registration

Incorporation documents can be submitted to the MCA along with an application for incorporation. MCA will usually approve the application for incorporation of LLP in 10 to 12 days, subject to their processing time

Limited Liability Partnership

Get Started Now Rs.5999 +taxes* Onwards

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