Limited Liability Partnership Registration
- Completely hassle free registration process.
- Dedicated Tax Experts for you.
1000+ customers in India grow their businesses with expertbells
LLP Registration
The concept of LLP was introduced in India by way of the Limited Liability Partnership Act, 2008. It is a form of a business that offers benefits of limited liability to partners. LLP is a legal body liable for full extent of its assets but the liability of partners is limited. It gives the freedom of a partnership firm as well as the limited liability feature of a company so that one partner is not liable for another partner’s misconduct or negligence.
LLP is a body corporate and a legal entity being separate from its partners. It can continue its existence even after the retirement, insolvency or even death of one or more partners. LLP is an organization which acts as a hybrid between a company and a partnership firm.
Process of LLP Registration
Obtain DSC & apply for DPIN
The first step is to obtain DSC of all the proposed designated partners. Then an application needs to be filed for Designated Partners Identification Number (DPIN) in e-form DIR3.
Get Name Approval
An application needs to be filed for company’s name approval and LLP should have a unique name.
Filing of Incorporation application
After the name approval, incorporation application needs to be filed with the ROC of the concerned state or area where office of registered LLP is going to be situated.
Filing of LLP agreement
Within 30 days from the date of incorporation, LLP needs to file LLP agreement. The agreement defines rights & responsibilities of partners.
Advantages of LLP Registration
SDASDSDAD
Lower Compliance burden
LLPs have to face quite less compliance burden as they have to submit only two statements i.e. the Annual return and Statement of Accounts & solvency unlike private company where lot of formalities & compliances are required.
Flexible capital structure
LLP has a very flexible capital structure and can be started with any minimum amount of capital. Capital can be in any form- tangible or intangible.
No compulsory Audit requirement
LLPs are not required to get their accounts audited unlike private & public companies. Only in the following 2 situations they are required to get audited: o When the contributions of the LLP exceeds Rs. 25 Lacs, or o When annual turnover of the LLP exceeds Rs. 40 Lacs
No Limit on Partners
LLP can vary from 2 to more partners; therefore there is no limit on partners. There is a minimum requirement of 2 partners whereas there is no limit on maximum number of partners.
Documents required for LLP Registration
- Proof of partners
Aadhar Card, PAN Card of the Partners.
- Address Proof of Partners
Property Tax Receipt/Electricity bill copy/ Ownership deed (in case of owned property)Lease/rent agreement (in case of leased/ rented property)/ NOC from the owner.
- Bank Statement
Bank Statement or the Bank Passbook of the Partners.
- Photogaph
Recent Passport Size Photograph of the Partners.
- Passport
Passport details required in case of any Foreign Nationals/NRIs.
- Registered Office
Proof of Registered office address required for Principal Place of Business..
- LLP Agreement
Stamp Paper for LLP agreement of State where LLP is to be registered.
Pre requirements for LLP Registration
- Minimum 2 people are required to register LLP with any amount of minimum capital. One designated partner of LLP should be a resident in India.
Packages
Basic
What's included
- LLP Registration
- Digital Signature Certificate (2 Nos.)
- Expert Consultancy
Basic
What's included
- LLP Registration
- Digital Signature Certificate (2 Nos.)
- GST Registration
- Expert Consultancy
Basic
What's included
- LLP Registration
- Digital Signature Certificate (2 Nos.)
- GST Registration
- Udyam Registration
- GST Filings GSTR3B & GSTR1 (for 6 Months)
- Expert Consultancy
FREQUENTLY ASKED QUESTIONS
1. How LLP is different from Partnership Firm?
In LLP, one partner’s liability is unlimited and remaining has limited but in partnership firm all partners’ liability is unlimited.
2. Is there any minimum capital requirement for LLP?
No, there is no prescribed limited for capital requirement. It can be any amount according to business requirement.
3. Can minor become a partner in LLP?
No, minor cannot be a partner but he can be a beneficiary with consent of all partners.
4. Is it compulsory to take registration to form LLP?
Yes, registration is compulsory because without registration no LLP can be incorporated.
5. How Partners and Firm are different from each other?
Partners and Firm has separate legal entity and their liabilities are limited to the extent of their contribution in LLP.
6. Who can be a partner in LLP?
Any individual or body corporate can be a partner but for the purpose of LLP, HUF will not be considered as body corporate.
7. Can any partner transfer his share to any other person?
Yes, he can transfer his share to any other person but with the consent of other partners.