Limited Liability Partnership (LLP) Registration

Perfect business structure for Small and Medium-sized business houses going for Partnership.

It restricts the liabilities of its partners to their contributions to the business and furthermore offers each partner security from the negligence, wrongdoings or inadequacy of different partners.

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HERE'S HOW IT WORKS

LLP Registration is quick, simple, and would be possible online with Taxxinn in 3 plain sailing steps

1. Fill Form
Simply fill the above form to get started.
2. Call to discuss
Our expert will connect with you & prepare documents.
3. Get certificate
Get your Company Incorporation certificate

Limited Liability Partnership (LLP) Registration


Limited Liability Partnership (LLP) was launched in India in 2008 by way of the Limited Liability Partnership Act. The fundamental reason behind the launching of Limited Liability Partnership (LLP) to give a Perfect business structure for Small and Medium-sized business houses going for Partnership.

It restricts the liabilities of its partners to their contributions to the business and furthermore offers each partner security from the negligence, wrongdoings or inadequacy of different partners.

Since, its launch in 2010, LLPs have been generally welcomed with more than one lakhs registration in India India.

LLP is perhaps the most effortless sort of organization to incorporate and oversee in India. With a simple procedure and simple compliance formalities, LLPs are favored by Experts, Smaller scale and Independent companies that are family-possessed or intently held.

What is the difference between LLP & Partnership

Cost:

Getting a limited liability(LLP) partnership is registered is slightly costlier than registering a partnership. Taxxinn helps you register a limited liability partnership (LLP) completely online.

Authority:

LLPs are registered in India under the Central Government i.e Ministry Service of Corporate Affairs. Partnership firms are registered under State Government i.e Registrar of Firms which is fully controlled by the state government.

Limited Liability Protection:

One of the important benefits of Limited Liability Partnership compared to a partnership firm is that one partner is not liable or responsible for unfortunate behavior or carelessness or misconduct. An LLP additionally gives restricted liability protection to the proprietors from the debts of the LLP. In any case, in contrast to private limited company shareholders, the partners of an LLP reserve the right to manage with the business directly.

Legal entity:

Limited Liability Partnership(LLP) are separate legal entities and the liabilities and assets are separate from the partner of LLP. Whereas the Partnership firm is not a separate legal entity.

Advantages of registering a business as an LLP?

Cost:

The cost of registering a Limited Liability Partnership(LLP) is the lowest and even the same as other commonly registered entity PVT or OPC.

Lesser Compliances:

The compliance for Limited Liability Partnership(LLP) is least compared to PVT or OPC registration.

No Audit:

In contrast to Private Limited Company, LLP isn't required to get audited on the off chance that nil turnover.

Minimum Requirement:

Limited Liability Partnership(LLP) registration requires at-least two individuals to kick start and there is no minimum capital required.

Profit Withdrawal:

Profit can be pulled back effectively without paying any tax, not at all like companies.

Flexible Agreement:

The flexible agreement permits to draft rules and guidelines as according to one advantage.

Simple Filings:

In a year totally of two forms are just required to be filed for an LLP.

Documents Required

Identity Proof

Aadhar Card
Driving License
Election Id Card
Passport

Address Proof of Business

Electricity Bill
Rent Agreement + NOC

PAN Card

Passport size Photograph

LLP Registration Process

LLP registration procedure is easy but a professional would be needed to complete the same. In addition, the procedure has been completely changed by the government in order to promote the ease of doing business. TaxxInn is experienced in LLP Registration with an experience of registering more than 100 LLP firms and consulting hundreds of LLP partnerships throughout India.

Checklist for Registering an LLP in India.

In order for any Limited Liability Partnership(LLP) to be registered in India, the below conditions have to be met.

Two Directors:

A Limited Liability Partnership(LLP) must have at least two Designated Partner and more, there can be 15. Of the directors in the business, at least one must be an occupant of India.

Unique Name:

The name of your business must be Unique. The recommended name should not match any current organizations or trademarks in India.

Minimum Capital Contribution:

There is no Minimum capital Contribution to a company. A Limited Liability Partnership(LLP) should have an authorized capital of in any event Rs. 1 lakh.

Registered Office:

The registered office of an organization doesn't need to be a business space. Indeed, even a leased home can be the registered office

What do you get?


Everything to open a bank account and Start your business

DSC

Digital signature for two directors to digitally sign the documents

Memorandum of Association

Defines the rules and objective of the business

Articles of Association

Defines the rules and objective of the business

Company PAN
(soft copy)

PAN number of the company to open a bank account

Incorporation Certificate

Certificate of incorporation bearing company's registration number and details

Company TAN
(soft copy)

TAN number of the company

GST Certificate

GSTIN number and Certificate for your company

HIGHLIGHTS

Limited Liability

Limited Liability

Shareholder enjoys limited liability to the extent of capital invested. Shareholder's personal assets protected in the event of the company's insolvency.

Separation of Mangement & Shareholders

Separation of Mangement & Shareholders

Management & shareholders can be separated. A shareholder can invest the fund in fruitful business without managing & Management can operate their business without frequent interruption of investors.

Separate Legal Entity

Separate Legal Entity

A company is a Separate legal entity from its Owners and Management in the eyes of law.

Perpetual Succession

Perpetual Succession

A business of the Company will not affect if there is any change in the ownership of the company.

Easy Equity Funding

Easy Equity Funding

Startups businesses can easily raise funds from investors on an equity basis.

Taxation

Taxation

Every Pvt Ltd Company enjoys for recently announced start-up tax exemption, if meets eligibility criteria.

FAQs on LLP Registration

The LLP represents a Limited Liability Partnership it is a superior version of a general partnership firm. It is governed by a limited liability partnership act 2008.
A Limited Liability Partnership(LLP) must have at least two Designated Partner and more.
The Designated Partners should be more than 18 years old and must be a natural individual. There are no limitations as far as citizenship or residency. Along these lines, the LLP Act 2008 permits Foreign Nationals including Foreign Companies and LLPs to consolidate an LLP in India, provided least one of the director should be resident of India.
There is no Minimum capital Contribution to a company. A Limited Liability Partnership(LLP) should have an authorized capital of in any event Rs. 1 lakh
Yes, NRIs or foreigners can be a director or a partner of LLP. However, foreign participation above 50% will place the company under the category of Foreign Company.
Yes, a salaried individual can turn into the director in private limited, LLP or OPC private restricted organization. One needs to check the work understanding if that takes into account such arrangements. In a lot of cases, the businesses are very OK with the way that their representative is a chief in another organization.
There is no validity for Limited Liability Partnership(LLP) Registration Certificate, it is for a lifetime.
Indeed, one can maintain multiple businesses under one name LLP.
Of course, you can have your family member in your LLP as a Partner
If you have all the documents in order, it will take no longer than 30 days. It is dependent on the ROC.
LLP agreement is the understanding which is signed and executed among the partners of LLP. The LLP agreement is to be submitted to roc for getting the LLP registered.

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Types of Government Registrations

Recommended For

Ease of Accommodating Investment

Limited Liability Protection

Tax Advantages

Perpetual Existence

Statutory Compliances

Private Limited Company
Limited Liability Partnership
One Person Company
Partnership Firm
Sole Proprietorship

Start-ups and growing companies

Very easy to accommodate

Yes

Few benefits

Yes

High

Professional services firms

Possible, but unlikely

Yes

Most efficient

Yes

Low

Sole promoters

Possible, but severely unlikely

Yes

Few benefits

Yes

High

Home businesses

Almost impossible

No

Minimal

No

Minimal

Small traders and manufacturers

Impossible

No

Minimal

No

Minimal

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