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Limited Liability Partnership

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Limited Liability Partnership Registration

Start Your Limited Liability Partnership and Get the Benefits of Limited Liability

Register your LLP with ease and get free consultation, two digital signatures (DSC) and DIN.

  • Choose a unique name for your LLP
  • File the necessary documents with the Registrar of Companies
  • Pay the registration fees
  • Get a certificate of incorporation
Get Started Today!

Process of Limited Liability Partnership

ONLINE REGISTRATION

Get your Limited Liability Partnership Registration done by Experts

Get your Limited Liability Partnership Registration work done within 6-7 working days.

Documents Required:
    For Partners Eligibility
  • PAN Card for Partners
  • Identity Proof (Voter ID/Passport/Driving License)
  • Address Proof (Bank Statement/Mobile Bill/Telephone Bill/Electricity Bill)
  • Passport Size Photo of all Partners
  • For Registered Office
  • Ownership Proof (Electricity Bill/Gas Bill/Mobile Bill)
  • No Objection Certificate (NOC)
Eligibility Criteria for Becoming a Designated Partner in an LLP

To form a Limited Liability Partnership (LLP), it's essential to have a minimum of two designated partners. Additionally, at least one of these partners must be a resident of India, ensuring compliance with local regulations.

To become a designated partner in an LLP, an individual must meet the following criteria:

  • Consent Requirement: The individual must agree to take on the role of a designated partner. This is formalized in the LLP agreement.
  • Individual Status: Only individuals, not entities, can serve as designated partners.
  • LLP Agreement Provisions: The agreement can allow multiple partners to be designated partners.
THE PROCESS

Procedure for Limited Liability Partnership Registration

One of our company experts will collect all the required documents for registration.

Procedure for LLP Registration
  • Applying and obtaining the Digital Signature Certificate (DSC).
  • Applying and obtaining the Director Identification Number (DIN).
  • Filing the application to get the company name approved on the MCA portal.
  • Obtaining the Certificate of Incorporation by MCA.
  • Filing the application for the company's PAN & TAN.
  • Applying for the company's bank account after receiving PAN & TAN.
What is a Designated Partner Identification Number (DPIN)?

A Designated Partner Identification Number, or DPIN, serves as a unique identifier for individuals who are designated partners in an LLP. Similar to a Director Identification Number (DIN), it ensures compliance and transparency in managing LLPs.

Why is DPIN Important?

  • Ensures legal compliance with LLP reporting requirements.
  • Provides a unique identity for partners, like the DIN for directors.
  • Mandatory for LLP registration and management.

How to Obtain a DPIN:

  • During LLP Registration: Apply for a DPIN while registering the LLP.
  • For Existing LLPs: A new partner can apply for a DPIN when joining the LLP.
Mandatory Registration of LLP in India

Registering a Limited Liability Partnership (LLP) in India is mandatory under the Limited Liability Partnership Act. This ensures recognition as a legal entity and allows the LLP to operate and enjoy the associated benefits. The process is carried out on the Ministry of Corporate Affairs (MCA) portal.

Comparison in Companies

COMPARE RELATED SERVICES

Types of Government Registration

Managing Your BusinessOne Person Company Private Limited CompanyPartnership Firm
Recommended ForSolo PromotersStartups and Growing CompaniesHome Business
Ease of Accommodating InvestmentPossible, but severely unlikelyVery easy to accommodateAlmost Impossible
Limited Liability ProtectionYesYesNo
Tax AdvantagesFew BenefitsFew BenefitsMinimal
Perpetual ExistenceYesYesNo
Statutory CompliancesHighHighMinimal




LIMITED LIABILITY PARTNERSHIP

Get a Complete Strategy of Limited Liability Partnership

Hire Expert Cross Platform Limited Liability Partnership to Boost Your Business

After obtaining DSC and DIN, and taking name approval, we file Fillip form for LLP incorporation and therefter we draft an agreement for your partnership. Once all the documents are duly verified aqnd approved by the government, the certificate of incorporation is emailed to your id. LLP-3 will be file after the LLP incorporation

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Advantages of Limited Liability Partnership

  • An LLP is a separate legal entity.
  • LLP may own property and sue/be sued.
  • Liability Protection for all General Partners from claim against the LLP.
  • Liability Pritection for the LLP from claims against a General Partner.
  • Partner dividends are reported on the partners personal tax returns.
  • No date of termination is required in the Partnership Agreement.

Types of Limited Liability Partnership

Pricing

Pricing Table - Simple

Personal ONE PERSON COMPANY


1 Digital Signature
1 Shareholder
1 PAN Card + 1 TAN Card

INR 7499

For Sole Founders

Add to Cart
Advance LIMITED LIABILITY PARTNERSHIP


2 PARTNERS
1LLP Agreement
1 Pan Card + 1 Tan Card

INR 7499

For Traditional Business

Add to Cart
Ultimate PRIVATE LIMITED COMPANY


2 Directors
1 MOA + 1 AOA
1 PANCard + 1 TAN Card

INR 8499

Startup/Invsetor Friendly

Add to Cart

Comprehensive Checklist for LLP Registration

ONLINE REGISTRATION

Comprehensive Checklist for LLP Registration

When registering a Limited Liability Partnership (LLP), ensuring all requirements are met is crucial for a smooth process. Here's a detailed checklist:

Minimum Requirements
  • Partners: Minimum of two partners is mandatory.
  • Digital Signature Certificates (DSC): Required for all designated partners to facilitate online registration.
  • Designated Partner Identification Number (DPIN): Each designated partner must have a DPIN.
Naming Your LLP

Unique Name: The LLP name should not resemble any existing LLP or trademark, preventing legal issues and ensuring distinct branding.

Financial and Legal Documentation
  • Capital Contribution: Clearly defined capital contribution by partners is essential.
  • LLP Agreement: Establishes the rights and duties of partners, serving as the backbone of your partnership.
Proof of Establishment

Registered Office: Proof of the registered office must be provided for legal correspondence.

FORMS USED IN REGISTRATION OF LLP

Forms Used in Registration of LLP

To ensure a smooth registration process, it's essential to be familiar with the specific forms required for a Limited Liability Partnership (LLP):

  • FiLLiP: This form is vital for the incorporation of an LLP, marking the official beginning of your business entity.
  • RUN LLP: Use this form to reserve a name for your LLP, ensuring that your desired business name is secured before proceeding further.
  • Form 3: This form captures crucial information about the LLP agreement, which outlines the rights and duties of the partners.
  • Form 8: It reflects the Statement of Account and Solvency, essential for maintaining transparency and compliance with financial regulations.
  • Form 11: This is the Annual Return of Limited Liability Partnership, which is mandatory for keeping your LLP in good standing.
  • Form 24: Should you need to dissolve your LLP, this form is used to apply to the Registrar of Companies for striking off the LLP’s name.

By understanding and completing these forms accurately, you ensure that your LLP is established and maintained according to legal requirements, setting a strong foundation for your business’s success.

BENEFITS

Limited Liability Partnership (LLP) is an alternative corporate business form that offers the benefits of limited liability akin to a company, while maintaining the flexibility of a partnership.

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Mutual Rights and Duties

The mutual rights and duties of partners in an LLP are governed by an agreement between the partners or between the partners and the LLP. This agreement outlines the operational framework and responsibilities, ensuring clarity and structure within the partnership.

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Partner Structure

To establish an LLP, a minimum of two partners is required, with no upper limit on the maximum number of partners. There must be at least two designated partners, and at least one of them must be a resident of India.

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Separate Legal Entity

An LLP is recognized as a separate legal entity, capable of entering into contracts and holding property in its own name. This distinction allows the LLP to continue its existence irrespective of changes in partners.

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No requirement of LLP Audit

An LLP having turnover of less than Rs. 40 Lac and capital of less than Rs. 25 Lac are not required to get their accounts audited.

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Cost and Compliance

Forming an LLP is cost-effective, with fewer compliance requirements and regulations compared to other business structures. Additionally, there is no requirement for a minimum capital contribution, allowing more flexibility in the financial setup.

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Limited Liability of Partners

The liability of partners is confined to their agreed contribution in the LLP. No partner is liable for the independent or unauthorized actions of other partners, thus protecting individual partners from joint liability due to another partner’s wrongful business decisions or misconduct.

ONLINE REGISTRATION

Documents required for LLP Registration

Register your LLP-Frequently Asked Question

There is no provision in Companies Act 2013 to convert LLP into Private Limited Company. We can register a new Private limited company with the same name provided NOC has been taken for the same from LLP.

a) Individual b) Organizations c) NRI's d) Foreigners

Yes, it is possible to register your LLP at your Home/Residential address. We need to provide proof of our home/residential address such as electricity bill and rent agreement.

LLP shall be a body corporate and a legal entity separate from its partners. It will have perpetual succession.

A Limited Liability Partnership (LLP) is an alternative corporate business form that combines the benefits of limited liability of a company with the flexibility of a partnership. Introduced in India in 2008, LLPs are governed by the Limited Liability Partnership Act, 2008. This structure has become a preferred form of organization among entrepreneurs in India due to its unique advantages. Structure and Continuity: The LLP can continue its existence irrespective of changes in partners, offering perpetual succession similar to a company. It is capable of entering into contracts and holding property in its name, functioning as a separate legal entity. Liability and Protection: The LLP is liable to the full extent of its assets, but the liability of the partners is limited to their agreed contribution in the LLP. Importantly, no partner is liable for the independent or unauthorized actions of other partners. This shields individual partners from joint liability arising from another partner’s wrongful business decisions or misconduct. Partnership Agreement: Mutual rights and duties of the partners within an LLP are governed by an agreement between the partners or between the partners and the LLP. This flexibility allows partners to tailor the LLP to their specific business needs. An LLP requires a minimum of two partners to incorporate, but there is no upper limit on the number of partners. Since LLPs embody elements of both a corporate structure and a partnership firm structure, they are often described as a hybrid between a company and a partnership.

LLP form is a form of business model which:(i) is organized and operates on the basis of an agreement.(ii) provides flexibility without imposing detailed legal and procedural requirements(iii) enables professional/technical expertise and initiative to combine with financial risk taking capacity in an innovative and efficient manner

• Under “traditional partnership firm”, every partner is liable, jointly with all the other partners and also severally for all acts of the firm done while he is a partner.• Under LLP structure, liability of the partner is limited to his agreed contribution. Further, no partner is liable on account of the independent or un-authorized acts of other partners, thus allowing individual partners to be shielded from joint liability created by another partner’s wrongful acts or misconduct.

• A basic difference between an LLP and a joint stock company lies in that the internal governance structure of a company is regulated by statute (i.e. Companies Act, 1956) whereas for an LLP it would be by a contractual agreement between partners.• The management-ownership divide inherent in a company is not there in a limited liability partnership.• LLP will have more flexibility as compared to a company.• LLP will have lesser compliance requirements as compared to a company.

No, these shall not be applicable to LLPs.

A minimum of two partners will be required for formation of an LLP. There will not be any limit to the maximum number of partners.

Yes

Partner’s contribution may consist of both tangible and/or intangible property and any other benefit to the LLP. The monetary value of contribution of each partner shall be accounted for and disclosed in the accounts of the limited liability partnership in the manner as may be prescribed in the rules.Yes

A partner may lend money to and transact other business with the LLP and shall have the same rights and obligations with respect to the loan or other transactions as a person who is not a partner.

As per the Companies Act, this form of business enjoys the advantages of both a company and a partnership firm. It is easy to incorporate and manage with limited liability to the owners.

If a Limited Liability Partnership (LLP) suddenly finds itself with just one partner, the business can legally continue for a period of up to six months with that single partner at the helm. This grace period allows time to potentially bring in a new partner without immediately disrupting business operations. However, if no additional partner joins within those six months, important consequences come into play: Personal Liability: Beyond the six-month period, if the LLP continues with only one partner, that partner becomes personally liable for any obligations and debts incurred by the LLP. This shifts the usual protection afforded by the LLP structure, putting personal assets at risk. Potential Winding Up: The National Company Law Tribunal (NCLT) has the authority to wind up the LLP under these circumstances. If the LLP remains with fewer than two partners for over six months, it could lead to the dissolution of the business. In summary, it's crucial for LLPs to maintain at least two partners to safeguard against personal liability and to ensure the continuity of the business.

An LLP does not require these documents. The MoA and AoA are specifically designed for companies registered under the Companies Act, 2013, which applies to different corporate structures, such as private or public limited companies. Key Differences MoA and AoA: Essential for companies, these documents outline the scope of operations and internal regulations. LLP Agreement: Instead of MoA and AoA, an LLP is governed by an LLP Agreement. This document defines the rights, duties, and responsibilities of the partners, aligning with the flexibility and structure an LLP offers. Conclusion For anyone establishing an LLP, focus on drafting a comprehensive LLP Agreement. This contract is the cornerstone of your partnership, diverging from the traditional company requirements of MoA and AoA.

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