Limited Liability Partnership
LLP refers to Limited liability partnership and is governed by Limited Liability Partnership Act 2008. Limited Liability partnership provides advantage of limited liability to its owners and at the same time requires minimal maintenance. The directors of a private limited company have limited liability to creditors. In case of default, banks/creditors can only sell company’s assets and not personal assets of directors.
LLP is a separate legal entity that gives the benefit of limited liability of company plus the flexibility of partnership, wherein no partner is held liable on account of other’s partner misconduct and their rights and duties to be governed by LLP agreement. Limited Liability Partnership has been introduced in India by way of Limited Liability Partnership Act, 2008. The basic premise behind the introduction of Limited Liability Partnership (LLP) is to provide a form of business organization that is simple to maintain while at the same time providing limited liability to the owners.
We are the group of professionals having expertise in registration of Limited Liablity partnership and always keen to help entrepreneurs in decision making and skill analyzing as regards choosing constitution of business.
LLP Registration can be done through Startupkaro in Bhilai, Durg, Raipur, Rajanandgaon and all other Chhattisgarh State cities.
If you want to know more about Limited Liability Partnership Registration Services or seek any advice from our experts, then just call the below given number
Advantages & BenefitsWhy to register Limited Liability Partnership
Easy to Start
- No minimum capital requirements
- Low Registration cost
- Low annual compliance burden
Private limited benefits
- Less compliance than Companies
- Separate legal entity
- Limits the liabilities of its partners
- Easily transferable
Statutory & Tax Benefits
- No compulsory audit under company audit unless prescribed limits crossed When the contributions of the LLP exceeds Rs. 25 Lakhs, or When annual turnover of the LLP exceeds Rs. 40 Lakhs
- Share of profit of partner is exempt from income tax
- Non Applicability of dividend distribution tax
Documents and Information Required for Partnership Registration
Identity Proof of Partners
Copy of Passport/Driving License/Voter Identity Card of Partners
Address Proof of Partners
Copy of Latest Electricity Bill /Bank Passbook Statement
Copy of PAN Card and Aadhar Card
Address Proof of Registered Office
Rental Agreement or Sale Deed and Copy of Electricity Bill, Property Tax Receipt and No objection Latter from owner for Use of Premises as Registered office.
LLP registration with 2 DSC, 2 DIN, LLP deed drafting, name approval, PAN, TAN,
(Inclusive of all government fee and taxes)
LLP registration with 2 DSC, 2 DIN, LLP deed drafting, name approval, PAN, TAN and GST Registration
(Inclusive of all government fee and taxes)
LLP registration with 2 DSC, 2 DIN, LLP deed drafting, name approval, PAN, TAN, GST Registration and Trademark Registration
(Inclusive of all government fee and taxes)
– Current Account Opening Support
– Udyog Aadhar Registration
Procedure For LLP Registration
Complete our LLP Form
You need to fill our simple LLP online questionnaire and submit LLP documents.
Obtain DSC and DPIN for LLP
After submitting your documents we will provide you with DSC and DPIN
LLP Verification & Name Approval
Details provided by you will be verified & then we shall apply for LLP name approval.
LLP Documents Submission
We will create all the required documents (MOA & AOA) and file them with ROC for your LLP.
Your Work Completed
Once your LLP is incorporated, we shall send you LLP certificate and DSCs
Sample of Documents
Limited Liability Partnership FAQs
How many people are required to incorporate a LLP?
To incorporate a Limited Liability Partnership, a minimum of two people are required. A Limited Liability Partnership must have a minimum of two Partners and can have a maximum of any number of Partners.
What are the requirements to be a Partner in a LLP?
The Designated Partners needs to be over 18 years of age and must be a natural person. There are no limitations in terms of citizenship or residency. Therefore, the LLP Act 2008 allows Foreign Nationals including Foreign Companies & LLPs to incorporate a LLP in India provided at least one designated partner is resident of India.
What is the capital required to start a Limited Liability Partnership?
You can start a Limited Liability Partnership with any amount of capital. There is no requirement to show proof of capital invested during the incorporation process. Partner’s contribution may consist of both tangible and/or intangible property and any other benefit to the LLP.
Can a LLP be incorporated for undertaking "Not-For-Profit" activities?
No, one of the essential requirements for setting LLP is ‘carrying on a lawful business with a view to profit’. Therefore, LLP cannot be incorporated for undertaking “Not-For-Profit” activities.
Is an office required for starting a Limited Liability Partnership?
An address in India where the registered office of the LLP will be situated is required. The premises can be a commercial / industrial / residential where communication from the MCA will be received.
Do I have to be present in person to incorporate a LLP?
No, you will not have to be present at our office or appear at any office for the incorporation of a Limited Liability Partnership. All the documents can be scanned and sent through email to our office. Some documents will also have to be couriered to our office.
What are the documents required for incorporation of LLP?
Identity proof and address proof is mandatory for all the proposed Designated Partners of the LLP. PAN Card is mandatory for Indian Nationals. In addition, the landlord of the registered office premises must provide a No Objection Certificate for having the registered office in his/her premises and must submit his/her identity proof and address proof.
How long will it take to incorporate a LLP?
Startupkaro can incorporate a Limited Liability Partnership in 14-20 days. The time taken for incorporation will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy incorporation, please choose a unique name for your LLP and ensure you have all the required documents prior to starting the incorporation process.
What do I need to quickly incorporate my LLP?
To incorporate a LLP quickly, make sure the proposed name of the Limited Liability Partnership is very unique. Names that are similar to an existing private limited company / limited liability partnership / trademark can be rejected and additional time will be required for resubmission of names.
How long is the incorporation of the LLP valid for?
Once a Limited Liability Partnership is incorporated, it will be active and in-existence as long as the annual compliances are met with regularly. In case, annual compliances are not complied with, the LLP will become a Dormant and maybe struck off from the register after a period of time.
What are the annual compliance requirements for a LLP?
LLPs are required to file an annual filing with the Registrar each year. However, if the LLP has a turnover of less than Rs.40 lakhs and/or has a capital contribution of less than Rs.25 lakhs, the financial statements do not have to be audited.
What is a Digital Signature Certificate?
A Digital Signature establishes the identity of the sender or signee electronically while filing documents through the Internet. The Ministry of Corporate Affairs (MCA) mandates that allDesignated Partnersapply with a Digital Signature for Designated Partner Identification Number. Hence, a Digital Signature is required for all Designated Partner of a proposed LLP.
What is Designated Partner Identification Number (DPIN)?
Designated Partner Identification Number is a unique identification number assigned to all existing and proposed Designated Partner of a LLP. It is mandatory for all present or proposed Designated Partner to have a Designated Partner Identification Number. Designated Partner Identification Number never expires and a person can have only one Designated Partner Identification Number.
Can NRIs / Foreign Nationals be a Designated Partners in a LLP?
Yes, a NRI or Foreign National can be a Designated Partner in a Limited Liability Partnership after obtaining Designated Partner Identification Number. However, atleast one Designated Partner in the LLP must be a Resident India.
Can an existing partnership firm or company be converted to LLP?
Yes, an existing partnership firm or a company that is unlisted can be converted into LLP. There are many advantages of converting a partnership firm into a LLP; however, the same doesn’t apply for the conversion of a Company to a LLP.
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