OVERVIEW

About Limited Liability Partnership (LLP) Registration

Limited Liability Partnership (LLP) Registration is a legal process of forming a business entity where the partners have limited liability. This means that the personal assets of the partners are not at risk in case the LLP runs into financial difficulties or incurs any liabilities. In an LLP, partners have the flexibility to manage their business as per their mutual agreement, and they are not liable for the actions of other partners. LLP registration involves filing the necessary documents and forms with the Registrar of Companies (ROC) and obtaining a certificate of incorporation. Once registered, the LLP becomes a separate legal entity that can carry on its activities and enter into contracts on its own behalf.

There are two types of Limited Liability Partnership (LLP) Registration:

Regular LLP Registration: This is the standard type of LLP registration, where the LLP is formed with the primary objective of doing business. The partners are responsible for the management of the business, and the LLP is taxed as per the Income Tax Act.

Conversion LLP Registration: An existing partnership firm can convert into an LLP by following the process of Conversion LLP Registration. In this type of registration, the partners of the partnership firm become the designated partners of the LLP, and the assets and liabilities of the partnership firm are transferred to the LLP. The conversion of a partnership firm to an LLP has several advantages, such as limited liability for the partners, separate legal entity status for the LLP, and tax benefits.

Checklist for Limited Liability Partnership Registration:

1. Minimum of two designated partners: An LLP must have at least two designated partners, and at least one of them must be a resident of the country where the LLP is registered.
2. Digital Signature Certificate (DSC): All designated partners must obtain a DSC to sign electronic documents.
3. Designated Partner Identification Number (DPIN): All designated partners must obtain a DPIN from the Ministry of Corporate Affairs (MCA) or the relevant authority in their country.
4. LLP Agreement: An LLP agreement is a legal document that defines the rights, duties, and responsibilities of the partners and the management of the LLP. It is mandatory to draft an LLP agreement and file it with the Registrar of Companies (ROC) within 30 days of incorporation.
5. Address proof: The registered office of the LLP must have a valid address proof.

DOCUMENTS REQUIRED

Documents required for Limited Liability Partnership (LLP) Registration

REGISTRATION PROCESS

Registration Process of Limited Liability Partnership (LLP) Registration

• Name Reservation
• Procurement of Digital signatures
• Preparation of Incorporation documents
• Drafting of LLP Deed
• Filling of Incorporation documents with MCA
• Filling of Registered office
• Filing of of Initial LLP Deed with MCA

WHY US

What will you get from Us for Limited Liability Partnership (LLP) Registration?

• Two Class 3 Digital Signatures
• 2 Designated Partners Identification Numbers
• Company Name Approval
• LLP Deed
• Certificate of Incorporation
• Company PAN & TAN
• Incorporation Kit
• Bank Account opening document
• Document Formats
• First auditor appointment

An additional benefit of Limited Liability Partnership Registration

1. Bank Account Opening
2. Free Domain
3. Free Website up to 5 pages
4. Listing on Social media platforms
5. Listing on Google My Business for nearby business
6. Razor pay/Payu money payment gateway for online payment

Top 10 advantages to registering as Limited Liability Partnership (LLP) Registration

Here are the top 10 advantages of registering as a Limited Liability Partnership (LLP) in India:

• Limited liability: The partners of an LLP are only liable for the debts and obligations of the LLP to the extent of their contribution. Personal assets of the partners are not at risk.
• Separate legal entity: An LLP is a separate legal entity from its partners, which means that it can enter into contracts, own property, and sue or be sued in its own name.
• Flexibility in management: The partners of an LLP have the flexibility to manage the business and make decisions without interference from external shareholders.
• Easy to set up: Setting up an LLP is a simple and quick process, and requires less documentation compared to other forms of business entities.
• Perpetual succession: An LLP has perpetual succession, which means that the LLP will continue to exist even if one of the partners leaves or dies.
• Tax benefits: LLPs are taxed at a lower rate compared to companies, and partners of an LLP are not required to pay any tax on the profits distributed to them.
• Less compliance requirements: LLPs have fewer compliance requirements compared to companies, which means that the cost and time involved in compliance are lower.
• Transferability of ownership: Ownership of an LLP can be transferred easily, and the LLP can continue to exist even if there is a change in ownership.
• Access to funding: LLPs can raise funds from partners, investors, and banks, which makes it easier to expand the business.
• Credibility and brand image: Registering as an LLP gives the business credibility and a professional image, which can be important for attracting customers, investors, and partners.