Limited Liability Partnership (LLP) Registration Online In India
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How to Register a Limited Liability Company?
below mentioned steps and get your company registered within the timeline.
Our experts will help you in understanding your business structure.
Our experts will help you in picking up the right company name.
Our experts will draft the LLP agreement according to the requirements and submit the application.
Limited Liability Partnership (LLP) Registration-
Advantages of Limited Liability Partnership
Convenient : It is easy to start and manage a business like entrepreneurs because LLP agreements are customised according to the needs of the partners concerned. There are fewer formalities in areas of the annual meetings, legal compilations, resolution as compared to any other Limited Liability Partnership.
Lesser registration cost : The cost of registration of LLP is low as compared to any other company(Public or Private)
No limit on owners of business : LLP might have partners varying from two to many. There is no such kind of limit for partners in LLP. An LLP vital a minimum of 2 partners while there is no limit on the maximum number of partners in contract to a private company.
When the contributions of the LLP exceeds Rs. 25 Lakhs, or
When the annual turnover of the LLP surmount Rs. 40 Lakhs
Documents required to register a Limited Liability Partnership
Limited Liability Partnership
Aadhar card/Passport / Voter Identity Card / Driving license.
Bank Statement/Mobile Bill/Telephone Bill/ Electricity Bill
Registered Office Proof
Electricity bill/ Gas bill
Why choose limited liability partnership incorporation in India?
- Incorporation of Limited Liability Partnership is more flexible to organise the internal structure of LLP. Relatively it is complex to organise the internal structure of a company.
- The LLPs serve as separate legal entities because partners and LLP are different from each othe
- There is no requirement for a minimum capital amount to begin a limited liability partnership.
- Minimum two persons are required to form a Limited Liability Company at the same time there is no limit on maximum partners in LLP.
- Auditing of LLP in India is necessary when only the contribution exceeds 25 lakhs or annual turnover exceeds 40 lakhs.
- An LLP can be its own property as it has individual legal recognition in the eyes of law.
LLP REGISTRATION PROCESS :
Approval of the name and Reservation with ROC : The LLP-RUN which is Limited Liability Partnership – Reserve Unique Name needs to register for the reservation of the name of the proposed LLP.
FilliP Form : The form FiLLiP which is used for Incorporate of Limited Liability Partnership must be registered with the Registrar who has jurisdiction over the state in which the registered office of LLP is situated. It will be an integrated form. The incorporation documents need to be present to MCA along with the incorporation application. The MCA will approve the application within 5 to 7 working days.
Process for PAN, TAN, and Bank Account : The next step is to apply for PAN and TAN. These can be received within 7 working days. You can submit MOA,PAN, AOA and the incorporation certificate to the bank to open your bank account.
Apply for the Registration of the LLP Agreement : The agreement includes the mutual rights and duties between the LLP and its partners. It must be registered in Form 3 which has to be filled in the duration of 30 days of the date of incorporation.
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A. LLP has to final his accounts every year and submit it to ROC which is called LLP Annual filing. Non-filing of forms will impose high penalties.
A. Absolutely not, the whole process is online. Not required to physically present.
A. Not required. Once the LLP is formed, it is valid till it is officially closed down by the owners. No fees or renewal is essential. Furthermore, every year LLPs have to file the basic returns with the ROC Office.
A. Yes, we can add a number of designated partners or partners in the LLP.
A. Yes, a foreign individual can become designated partner or partner in LLP.
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