LLP Registration in India

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LLP Registration In India

All you need to know

The LLP offers the simplicity in management similar to partnership firms and scope of expansion like that of a company. LLP is a balanced structure which carries benefits of both partnership firm as well as private limited company. It is one of the easiest forms of business structure. LLP is a type of partnership where the personal liabilities of the partners are limited. LLP is governed by Limited Liability Partnership Act, 2008. 

 

In LLP, partners are protected from joint liability created by any partner’s misconduct. The unauthorised act of one partner does not create liability for another partner. This form of organisation is generally preferred by professionals, small and micro businesses. There should be two designated partners in LLP out of which at least one should be resident of India.

 

The main feature of LLP is that of limited liability of the partners. The procedure of registration of LLP is also easy and transparent process. The registration can be done by filing incorporation form online.

LLP Registration Fees

BASIC

5499 (All Inclusive)
  • 2 Digital Signature Certificates
  • 2 Director Identification Numbers
  • 1 Name Approval Application under RUN
  • Filing of Spice Plus Form
  • LLP Agreement
  • LLP Incorporation Certificate
  • PAN
  • TAN
  • SSI/MSME Registration
  • GST Registration

STANDARD

7999 (All Inclusive)
  • 2 Digital Signature Certificates
  • 2 Director Identification Numbers
  • 1 Name Approval Application under RUN
  • Filing of Spice Plus Form
  • LLP Agreement
  • LLP Incorporation Certificate
  • PAN
  • TAN
  • SSI/MSME Registration
  • GST Registration
Popular

STANDARD

15699 (All Inclusive)
  • 2 Digital Signature Certificates
  • 2 Director Identification Numbers
  • 1 Name Approval Application under RUN
  • Filing of Spice Plus Form
  • LLP Agreement
  • LLP Incorporation Certificate
  • PAN
  • TAN
  • SSI/MSME Registration
  • GST Registration
  • 1st Income Tax filing for non audit assessee
  • 1 Year TDS Filing upto 500 entries
  • 1st Annual Filing upto turnover of Rs. 40 Lakhs

Advantages of a LLP

QuickBiz is a technology driven platform which offers legal & financial services over its team of professionals. Before applying this services applicant should know the list of advantages of this service in India.

Separate Legal Entity

LLP is a separate legal entity which possess all the rights to sue or to be sued. It is a  separate legal entity from its promoters/owners and management in the eyes of law. It acts an artificial person which can buy a property on its own name and it can operate on its own name. It also means that assets and liabilities of the LLP are not the assets and liabilities of the partners.

Lower Compliance Requirement

The major advantage of the LLP over private limited company is its lesser compliance requirements. The compliances related to board meetings, statutory meetings does not apply to LLP which is mandatory requirement for company, Even the audit is not compulsory upto certain level of turnover or contribution.

No minimum capital is required

No minimum amount of capital is required for the LLP formation. It can be incorporated with any amount of capital as per business requirements.

Foreign Investment (FDI) Allowed

If any partners wants to take away his interest from the firm than it can be easily possible by introducing new designated partner in the firm. This will not affect the existence of the firm as it is a separate legal entity.

Limited Liability

The most beneficial feature of LLP is that of limited liability of the partners which means that the personal assets of the partners will not be used to pay off the liability of the firm. In LLP, partners are protected from joint liability created by any partner’s misconduct. The unauthorised act of one partner does not create liability for another partner.

List of Documents for LLP

Our mission is to offer excellent support to our client in respect of all the legal compliances on affordable rates. Have a look at the list of documents required to avail this service.

Documents of Shareholders/Directors
  • Two coloured Photographs of each promoter
  • PAN card of each promoter
  • Identity Proof (Copy of Voter ID / Driving License/ Passport)
Registered Address Related Documents
  • Address Proof (Bank Statement / Electricity, Mobile, Telephone Bill)
  • Proof of registered office address (Electricity Bill or any other utility bill for the address proof of the Registered Office. If premises is rented then utility bill, rent agreement or sale deed and an NOC from the landlord with his / her consent to use the office as a registered office of a company must be submitted as well)

How to Incorporate LLP

LLP Process in 5 steps
  • 1. Complete a checklist
  • 2. Verification of Documents
  • 3. Submit Document
  • 4. Verify Application
  • 5. Get LLP’s PAN & TAN

FAQs On LLP Registration

Get answers to all your queries

There should be minimum two designated partners to register LLP.

Any individuals, company or foreign nationals can become partner in LLP .

 

There is no minimum amount of capital requirement for LLP registration in India. There is no bar on amount of capital requirement but every partner has to contribute financially to form LLP.

The name of a company should be formulated . The applicants can provide with their preference order of names, maximum of 2 names under LLP- RUN(Reserve Unique Name ) form. The applicant should comply with the provisions of the Act or regulations. The registrar may ask to re-submit the application with a different name if names is not unique and does not fulfill any other criterias.

The DSC is an instrument issued by certifying authorities by which you can sign     electronic documents. As all documents needed are electronic, partners need a DSC.

Designated Partner Identification Number (DPIN) is a registration required for any person who wants to be appointed as a Designated Partners of a Limited Liability Partnership (LLP).It is a unique number allocated by the Ministry of Corporate Affairs to Individuals on whose name the application is made, allowing an individual to be a Director in any Company or Designated Partner in an LLP.

Yes, an existing partnership firm be converted into LLP by adhering to the provisions of LLP Act.

Yes, it is necessary to provide to provide the address i.e. place of business in India. It can either be residential or commercial.

LLP agreement is agreement entered between partners of LLP which mentions various clauses of rights, roles, liability, duties and responsibilities of partners of LLP. The agreement is required to be filed with MCA within 30 days after incorporation of the LLP.

The amount of stamp duty is decided on the basis of the capital contribution. The stamp duty varies from state to state. Moreover, notary is not mandatory and is not required by MCA.

Have Questions? Need Help of an Expert

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