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Limited Liability Partnership (LLP) Registration in India
LLP launched through the Limited liability partnership act 2008 in a limited liability partnership company. One partner cannot be held liable for another’s partner mistakes; in other words, we can say that one partner is responsible for only his misconduct.
LLP is much suitable for small businesses, micro-businesses and which are family-owned.
Limited liability partnership has one most important benefit: the liabilities of the partners or owners are limited, which also requires less maintenance. In LLP, it also gives liability protection to the owners from the debts.
You can register your limited liability partnership company in India in many city’s like Delhi, Mumbai, Bangalore and many more cities.
Why go for LLP registration in India
- LLP registration in India has a dual advantage. First, it’s a company, and it’s a partnership.
- None of the partners will be held responsible for other partners mistakes and negligence.
- If you go for LLP company registration in India, it will cost less to incorporate the company than the private limited company.
- Limited liability partnership company limits the liabilities of its members or partners or owners.
- The responsibilities of the partners are also limited.
- There are much fewer agreements and regulations in the process of forming a limited liability partnership company.
- There is no fixed capital investment means you can invest any amount of capital.
- In an LLP company, the ownership of a partner can be shifted easily to another person.
- LLP company can be ended by mutual agreement between all the partners.
- You can add unlimited partners. At least two partners are needed to incorporate an LLP company,
- The LLP agreement administers the responsibilities of each partner.
- If you are starting an LLP company, you have to enrol it under the Limited liability partnership act 2008.
Our LLP Registration Package Includes?
- DPIN for 2 Designated Partners
- LLP Agreement
- DSC for 1 Designated Partner
- ROC Fees & Pan card
- Name search & approval
- Free Accounting Software & GST filing
Procedure For LLP Company Registration in India
Get a Free Consultation For LLP Company Registration in India
- Firstly, you have to complete the LLP form. This form is very simple, and it is an online questionnaire, and you have to submit the LLP document.
- Then, you have to obtain the Spin and DSC from the registration company. When you submit your documents, they will provide you with DCS and DPIN.
- Then you have to get verified and go for name approval. The documents and details you provide will be checked and verified, and then the name approval process will start.
- Then, you have to submit the LLP documents to the registration company like MOA and AOA. Then, they will file your documents and details with ROC for creating your Limited liability partnership company.
- This is the last process your LLP company will be incorporated, and the registration company will send you LLP certificate and DSC.
- Once you will get the certificate, then you have to register for the LLP agreement. This agreement will oversee all the rights, responsibilities, and duties between the partners in the company, and this agreement must be registered 30 days from the date of incorporation.
- Then, you have to apply for PAN, TAN, and bank account. This will be received in seven working days, and you have to submit the incorporation certificate, the LLP agreement, and your PAN card with the bank to open your account.
Documents required for LLP company registration in India
You will need a copy of the PAN card of all the partners
- Photographs of the partners
- Copy of Aadhaar card will be needed and voter ID, driving license, or passport
- Photocopy of the water bill, telephone bill and electricity bill
- The latest bank statement will be needed as proof of residence
- Copy of property papers of owned property
- Copy of the rental agreement if any
- NOC will be required from the property owner
- Copy of passport if the partner is foreign national or NRI
Factors to be considered while selecting an LLP name
- The ROC has guidelines for LLB names, and while you are choosing the LLP company name, then you must have to follow the rules; otherwise, it will get rejected; below are the factors that you should consider while choosing the name
- The name should be short and not extended means it will be easy for people to pronounce your company name and they will also remember it when they hear it for the first time means you should choose a simple and short name
- The name of your company should be unique and different from the existing company’s name. Your name of the company should not be similar to an existing company name
- There are some black listed words that you have to keep in mind and should be denied
- Your trademark should not be identical to the other company trademark
- The name of your company should be according to your business that relates to your name and business
- The name of your company should not be illegal or offensive, which means you don’t go against the law. The name of your company should not abuse any religion or harm anyone’s respect
- Opening an LLP company is a good option for small businesses or micro-businesses and should be run by a professional it has many advantages and an easy registration process also, and it is cheaper from private limited company incorporation.
Eligibility for LLP registration in India
Minimum two partners are required for creating an LLP company, and the partners will be above 18 years or 18 year
- There is no minimum capital requirement By the partners
- Minimum one Indian resident is required as a partner
- The DPIN is required for all the partners
- DSC is required for all the designated partners
- The address proof of the LLP company registered office
Stamp duty rates on LLP agreement
There are different rates for different states for an LLP agreement or for preparing an LLP agreement as per the capital contribution by the partners. It starts from hundred rupees, and if the capital contribution is up to 1,00,00 rupees, then the stamp duty rates are different in different states and from one lakh to 5 lakh rupees, then the rates are different and so on.
Timeline for LLP Registration in Delhi, India
It takes 14 to 21 working days to finish the LLP Registration procedure in India. The timeline may vary depending on responses from the ROC department.