LLP Registration
"Power of Partnership, Security of Liability – Register Your LLP Today!"
LLP Overview:
Limited liability partnership (LLP) is a combination of both partnership and corporation. It has the feature of both these forms. As the name suggests, partners have limited liability, which means that the partners' personal assets are not used for paying off the debts of the LLP.
Nowadays it has become a very popular form of business as many entrepreneurs are opting for this. There are several partners in the firm and hence they are not liable for other's misconduct. Everyone is liable for their own acts. All limited liability partnership is governed under the limited liability partnership act, 2008. However, in India LLP was introduced in April 2009.
Hence, many Entrepreneurs always prefer to set up an easy mode of business style so that they can perform business easily.
With the help of experts at ValuExpert, you can easily register your Limited liability partnership (LLP) without any hassle.
Benefits of LLP:
To help you to decide on forming LLP, here we have systematically described the Advantages of Limited Liability Partnership are as follow:
a) Limited Liability:
The Prime benefit of creating an LLP will be that the partners enjoy a Limited Liability up to only the extent of the business interests.
b) No limit on Patners:
Minimum 2 persons are required for creating LLP and there is No Upper Limit Over the number of Partners in LLP.
c) Contribution:
There is No Minimum Contribution requirement in a Limited Liability Partnership Unlike in a Company; A Limited liability partnership does not require holding Board meetings and Prepare Minutes.
d) Applicability of Tax Audit:
Tax Audit is only required if the Partners Contribution(Capital) exceeds Rs. 25 Lakhs or the Annual Turnover of the LLP exceeds Rs. 40 Lakhs.
e) Minimum Compliances:
LLP has Minimum Compliances and government interventions. This makes it a viable option for first-time entrepreneurs looking for a good business form.
Pre-registration Needs:
a) Unique Name:
Unique Name for the LLP which should not resemble with existing name of the LLP/Company and trademark.
b) Two Partners:
A Limited Liability Partnership can be incorporated with two Partners.
c) Registered Office:
Registered office for the Limited Liability Partnership can be residential or commercial and it can be rented.
d) Capital Contribution:
Now there is no minimum capital contribution requirement for a Limited Liability Partnership.
Registration Process:
1) Share Documents
Our experts will call you and get a free consultation on the name of the LLP, capital contribution by the Partners, and documentation required for new LLP registration.
2) Name Reservation
Our expert would make a name reservation with the authority so that the LLP name is reserved.
3) Apply for DSC & Signing of Incorporation Documents:
The next step is to apply for a digital signature Certificate and signing of incorporation documents. It is used to digitally sign the e-forms.
4) Filing of Incorporation e-form:
Our expert will file the incorporation e-form which is the final step in getting your Limited Liability Partnership Registration.
5) Certificate of Incorporation:
After processing the application by the department the certificate of incorporation is issued by the authority.
6) Ready to Work!
Once the certificate of incorporation is received, you are ready to work and take your business to great heights of excellence!
LLP Registration Docs:
1) From Partner:
a) Scanned copy of PAN card & Aadhaar Card.
b) Pass-port-sized photographs.
c) Identity Proof (Scanned copy of Voter ID/ Driving License/Passport)
d) Address proof (Scanned copy of Utility Bill – electricity/water/mobile), make sure that the address proof is not older than 2 months
e) Mobile No. & Mail ID
2) For Registered Office:
a) Rent Agreement or the Lease Deed or the Sale Deed of the place being used as Registered Office; or,
b) Address Proof of the Registered Office (electricity Bill), make sure that the address proof is not older than 2 months.
c) No-Objection Certificate (NOC) signed by the actual owner of the Property.
(*Important note: All above proof must be self-attested)
