Limited Liability Partnership
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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
PROCESS
Process of Limited Liability Partnership
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.
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 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
DOCUMENTS REQUIRED
DOCUMENTS REQUIRED FOR LLP Registration
Copy of Pan Card or Owner
Electrcity Bill/Water Bill + No objection certificate
Copy of Rent agreement ( if rented property)
Copy of Aadhar Card/Voter ID card
Passport Size Photograph of Owner
COMPARE RELATED SERVICES
Types of Government Registration
| Managing Your Business | One Person Company | Private Limited Company | Partnership Firm |
|---|---|---|---|
| Recommended For | Solo Promoters | Startups and Growing Companies | Home Business |
| Ease of Accommodating Investment | Possible, but severely unlikely | Very easy to accommodate | Almost Impossible |
| Limited Liability Protection | Yes | Yes | No |
| Tax Advantages | Few Benefits | Few Benefits | Minimal |
| Perpetual Existence | Yes | Yes | No |
| Statutory Compliances | High | High | Minimal |
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.
What is LLP Stamp Duty?
When you register a Limited Liability Partnership (LLP), a stamp duty is levied on its LLP Agreement. This is a legal requirement which is as per the laws of every state government.
What is it levied on?
Stamp duty is mainly levied on the partnership agreement, which defines the rights, DS and profit-sharing ratio of the partners.
What is the amount?
- This varies from state to state.
- Generally, it is Rs 500 – Rs 5,000 (depending on state and capital contribution).
PACKAGES FOR
Types of Limited Liability Partnership
STARTER
- Expert assisted process
- Goverment fee included
- Company name filing in 1 - 2 days
- Digital Signature Certificate (DSC) in a day
- Incorporation Certificate in 7 - 10 days
- Company PAN + TAN included
- Designated Partner Identification Number (DPIN)
STANDARD
- Expert assisted process
- Goverment fee included
- Company name filing in 1 - 2 days*
- DSC within a day
- Incorporation Certificate in 7 - 10 days
- GST registration is included in the service
- Company PAN + TAN included
- Designated Partner Identification Number (DPIN)
- MSME registration is included in the service
- Digital welcome kit with post-incorporation checklist
PREMIUM
- Everything in the Standard Package
- Goverment fee including
- MSME registration is included in the service
- Priority support
- GST registration is included in the service
- Business email + website (Optional Add-on)
- Annual compliance advisory (1st year)
- IEC registration is included in the service
- Trademark application filing is included in the service