Overview of Limited Liability Partnership registration
The limited liability partnership is a popular choice among entrepreneurs because it combines the benefits of a general partnership and a corporation into one entity. The value of a partnership with a limited liability partnership is incorporated in a limited liability partnership. In India, it started in January 2009 and quickly became a craze for entrepreneurs and professional services. The purpose of a limited liability partnership is to create a simple business structure that benefits the owners by limiting their liability.
At least one of the two named partners must at least reside in India. The LLP Agreement governs the rights and responsibilities of the selected partners. They are directly responsible for ensuring that the provisions of the LLCs Act 2008 are followed. This type of entity is commonly used by law firms, accounting firms, private equity firms, venture capitalists, architects, and real estate firms. This business structure has several advantages, including limited liability and simplicity of compliance.
What is a limited liability partnership? A limited liability partnership is a form of general partnership business. A Limited Liability partnership is also known as an LLP. A limited liability partnership can be established with 2 or more partners.
In an LLP, one partner is not responsible for another partner's misconduct or negligence.
An LLP shares all the characteristics of a traditional partnership, except for the same legal status and unlimited liability of the partners. Accordingly, limited liability companies have a separate legal existence and identity from their participants. In addition, its partners are only liable to a limited extent.
How to apply for LLP?
The experts in my legal department can help you apply for an LLP (limited liability partnership).
Applying for an LLP is a quick and easy process that can be done online in a few simple steps.
Step 1 : Consult our experts who will verify eligibility and required documents.
Step 2 : Our team will help you find available names for LLP registration.
Step 3 : We support you to register DSC and DPIN for LLP partners.
Step 4 : Our experts will prepare all required ROC forms and draft the LLP agreement.
Step 5 : Apply and provide your Limited Liability partnership Certificate with an LLP Certificate.
Why choose to register a limited liability partnership?
The Limited Liability Partnership format is an alternative to partnership firms. It is a corporate business vehicle that gives the benefits of limited liability for a corporation while also allowing its members to organize their internal administration on the basis of mutual agreement, as in a partnership firm. It has different features as follows:
Limited
The liability of the partners is limited to the amount of their contribution to the company. In other words, they are not personally liable to outside creditors.
Simplicity
Compared with the establishment and operation of a limited liability partnership, the establishment and operation of a limited liability partnership is very simple.
Last forever
An LLP is a legal entity that exists independently of its partners and partners may change from time to time.
Minimum number of partners
An LLP can be formed with a minimum of two partners.
Separate legal entity
It is a separate legal entity that can hold assets in its own name and is solely responsible for its debts.
Unlimited number of partners
You can have unlimited partners in a limited liability partnership.
Conditions for Registration of Limited Liability partnership
Minimum partner needed
In India, a minimum of two general partners is required to form a limited liability partnership.
Indian Citizen Partner
One of the partners must have Indian citizenship. In India, it is a legal prerequisite for an LLP.
DPIN number
All partners in an LLP must have a unique Partner Identification Number (DPin).
Fixed/real office address
The Limited Liability Companies Act 2008 makes this a mandatory requirement. The LLP must have a physical location for a registered office from which it can conduct its day-to-day business.
DSC for all partners
It is a legal requirement for all LLP partners to obtain a digital signature certificate. This will facilitate the filing of paperwork and digital and electronic signatures.
Unique company name
Your business name should be distinctive and unique. The proposed company name must not resemble any existing Indian registered company or trademark.
Benefits of registering for an LLP
Registering an LLP (Limited Liability partnership) has certain advantages in business, which are given below:
The partner's personal assets are protected against limited liability.
LLP has better image and reliability than normal companies.
Easily comply with the requirements of society.
Does not require audit up to a certain annual turnover.
Business continuity, partners can come and go.
There is no minimum capital contribution requirement.
Documents required to apply for LLP
LLP Partner Documentation
Photo
PAN Card
Aadhar Card
Address proof*
Proof of Identity**
Proof of LLP registered office address
- 1. Most recent electricity bill OR any other utility bills in the owner's name
- 2. Lease agreement between business owner and promoter OR Owner's NOC (if owner is a business promoter)
- *For proof of address: Bank statement, electricity bill, phone bill, cell phone bill. (All, no more than 2 months).
**For identity documents: Driver's license, voter card, passport (everyone). #Foreigner/NRIs case - - 1. Passport is required for foreign nationals and NRIs.
- 2. They must provide additional proof of address, which can be a driver's license, bank statement, residence permit or any other government issued ID with an address.
- 3. If the documents are not in English, they will be accompanied by a notarized translation or a stamped translation.
How can we help with LLP registration?
We have a top professional team providing hassle free and error free online company registration service in India. Our experts have completed more than 1000 limited liability partnership registrations and have been keeping up to date with new MCA registration procedures every day since 2023. So we provide you with an incorporation solution. Best MCA compliant company.
Now it is up to you to start your business by registering with all the legal formalities. Our team is here to guide your business through every stage of your growth.
Select Your Package
Basic
- LLP Incorporation Certificate
- Drafting and filing of LLP Agreement
- 2 DIN
- PAN
- TAN
- 1 Partner DSC
Standard
- Basic Package
- GST Registration
Premium
- Standard Package
- 12 months GST Return Filing*