Limited Liability Partnership (LLP) registration in India at Professional Fees of Rs.1999/-
Get your Registration done in 10-15 Days
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About Limited Liability Partnership Firm
LLP was introduced in India by way of the Limited Liability Partnership Act, 2008. LLP is a body corporate formed and incorporated under this Act. It is a legal entity separate from its partners. LLP is an alternative way to start a business and has become a preferable form of organization among entrepreneurs as it incorporates the benefits of both partnership firm in terms of flexibility and company in terms of limited liability into a single form of organization. Hence, LLP is a hybrid between a company and a partnership.
Limited Liability partnership offers the benefit of limited liability to its owners and at the same time needs minimal maintenance. It is a legal entity separate from its partners.
Advantages of Limited Liability Partnership(LLP)
There are multiple reasons to choose private limited company :
✓ It has a separate legal entity the LLP and partners are distinct from each other.
✓ The liability of each partner is limited to the contribution made by partner.
✓ The rights and duties of all partners are governed by an agreement between them.
✓ Every Limited Liability Partnership must have at least two partners and there is no maximum limit on the number of maximum partners in the entity.
✓ Less compliance and regulations
✓ No requirement of minimum capital contribution
Procedure for Limited Liability Partnership(LLP)
Step 1: Complete the Form send by us and fill the details and send to us
Step 2: We will apply digital signature of the directors and it will take 1-2 days.
Step 3: We will File the Names submitted by you. Approval normally takes 3-4 Days.
Step 4: Once Name Approved we will file documents/Forms to ROC for Incorporation.
Step 5: ROC verify the Forms and Issue Registration Certificate.
Minimum Requirement for Limited Liability Partnership(LLP)
Minimum 2 Partners
Minimum 2 Designated partner required. 1 partner must be Indian Resident.
No Minimum Capital
No Minimum Capital Requirement for LLPs. Capital can be Zero
Address of Registered office
Office can be Residential or commercial and Rented or Self owned.
Documents Required for Limited Liability Partnership(LLP) Registration
PAN Card
Copy of PAN Card of all resident Director exception for Non Resident.
Photograph
Passport Size color photograph of all directors.
Identity Proof
Anyone : Aadhar Card, Driving license, Voter ID and Passport of all directors
Office Proof
If Rented Property Rent Agreement along with NOC by owner.
Address Proof
Anyone : Bank Passbook, Mobile Bill, Water Bill or Gas Bill of all directors
Utility Bill of office
Anyone : Electricity Bill, Telephone Bill, Water Bill or Gas Bill.
Frequently Asked Question(FAQ)
What are the minimum requirements to register an LLP ?
There must be at least two individuals to be appointed as Designated Partners, out of which one must be an Indian resident. Also, there is a pre-requisite to have an address of a business in India so as to register it as a registered office for your LLP
Who can be partners?
In LLP, two types of partners can be appointed i.e. Designated Partner and Partner. There must be at least two individual designated partners. At least one of them shall be a resident in India. To become a designated partner, DIN is mandatory. A body corporate can also become a partner in LLP. Such body corporates have to appoint a nominee to act as a partner in LLP on behalf of the body corporate. Following persons cannot become a partner:
- A Person with unsound mind
- Undischarged insolvent
- If an application for adjudication of insolvency is pending
Is there any minimum capital requirements?
No. There is no minimum amount prescribed to form an LLP in India. It can be started with any amount of capital demanded by the business. Although there is no minimum requirement, every partner must make a contribution financially to form LLP. The amount of capital contribution is disclosed in the LLP Agreement and amount of stamp duty is decided by the total contribution amount.
Why stamp duty not included in all types of package?
The amount of capital contribution is taken into consideration in deciding the stamp duty on the LLP Agreement in India. The rate of stamp duty varies from State to State. The State Stamp Act will be applied depending on where the registered office is situated.
Can a salaried working person become a partner in LLP ?
Yes, you as a salaried person can become a partner in an LLP. You need to check your employment agreement if that allows for such provisions.
Can an LLP carry on multiple business activities?
Yes, a Limited Liability Partnership registered in India can carry on more than one business subject to their relevancy. The activities must be related or in the same field itself. Unrelated activities such as Interior Designing and Legal consultancy cannot be carried under same LLP. The business activities are mentioned in the agreement and must be approved from ROC.
Can I add or remove partner?
You can add or remove a partner in an LLP. One must follow a specific process. For this also an LLP needs to enter into a supplementary agreement and then the form is to be filed within 30 days from the addition or removal. But in any case, the number of the partners must not be less than 2.
Can I register my LLP at my home address ?
Yes ,you can register your LLP at your residential address. It is perfectly legal to start the company at your home or in your garage. You just have to provide your home address proof such as rent agreement or electricity bill.
Is there is any requirement to be Physically present for the registration process ?
The whole process is online ,you are not required to go anywhere just by filling the form and sending your documents ,the process will be done .
What is major difference between LLP and Private Limited Company ?
- Private Limited company requires few more ROC compliance translating into an additional cost of 5000 to 10000/annum.
- Minimum capital required is Rs.100,000
- Private limited company can have a maximum of 200 members.
Due to ease in share transfer, business credibility and potential for future growth , many opt for Private Limited Company.
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