Limited Liability Partnership Registration in Bihar
The Limited Liability Partnership (LLP) Act of 2008 governs the LLP framework in India, including Bihar. The popularity of LLP registration in Bihar is on the rise, making it an appealing choice for new enterprises. We provide a streamlined LLP registration service in Bihar, ensuring that your business is set up for optimal success.
Types of LLP Registration:
Standard LLP Registration: This process is tailored for the online registration of LLPs and is adaptable to various business operations. The partners manage the LLP, and it is taxed per the provisions of the Income Tax Act.
Conversion of Existing Partnership to LLP: An established partnership firm can convert into an LLP through an online conversion registration process. In this transition, the partners become designated partners of the LLP, with the firm’s assets and liabilities being smoothly transferred. This conversion offers numerous benefits, such as safeguarding partners with limited liability, granting the LLP status as a distinct legal entity, and potential tax advantages.
Checklist for LLP Registration:
Minimum Designated Partners: A minimum of two designated partners is necessary, with at least one being a resident of the country where the LLP is established.
Digital Signature Certificate (DSC): To sign documents electronically, each designated partner needs to acquire a DSC.
Designated Partner Identification Number (DPIN): The DPIN must be obtained by each approved partner from the Ministry of Corporate Affairs (MCA) or the appropriate local regulatory body.
LLP Agreement: Drafting an LLP agreement is critical since it defines the partners' rights, obligations, duties, and management structure. This document must be filed with the Registrar of Companies (ROC) within 30 days of the LLP's establishment.
Proof of Address: The registered office of the LLP must present valid proof of address.
Essential Documents for LLP Registration:
For Director/Shareholders:
Self-attested PAN card
A self-attested government-issued ID (Voter ID, Driving License, Passport)
To verify address, use a recent utility invoice or savings account.
Recent passport-size photograph
For the Registered Office Address:
For the registered address of the company:
If on rental premises:
Owner's electricity bill
Rent or lease agreement
No Objection Certificate (NOC) from the property owner
What will you get from us for Limited Liability Partnership (LLP) registration?
Incorporation Kit
Bank Account opening document
Document Formats
First auditor appointment
Two Class 3 Digital Signatures
2 Designated Partners Identification Numbers
Company Name Approval
LLP Deed
Certificate of Incorporation
An additional benefit of Limited Liability Partnership Registration Online
Bank Account Opening
Free Domain
Free Website up to 5 pages
Listing on Social media platforms
Listing on Google My Business for nearby business
Razorpay/PayU Money payment gateway for online payment
Top 10 Benefits of Registering as an LLP in Bihar:
Limited Liability Protection: Partners are only liable to the extent of their contributions, which helps safeguard personal assets from business debts.
Separate Legal Entity: An LLP functions as an independent legal entity distinct from its partners, enabling it to engage in contracts, own assets, and participate in litigation autonomously.
Flexible Management Structure: Partners in an LLP can manage the business freely, making decisions without outside shareholder interference.
Simple Registration Process: Setting up an LLP is relatively straightforward, requiring less documentation compared to other business forms.
Perpetual Succession: LLPs can continue to function without disruption, irrespective of changes in partnership, including the exit or demise of partners.
Tax Advantages: LLPs benefit from lower tax rates than traditional companies, and profits distributed to partners are not subjected to additional taxes.
Minimal Compliance Burdens: LLPs encounter fewer compliance and regulatory requirements compared to other entities, making operations easier.
Easy Ownership Transferability: Transferring ownership within an LLP is uncomplicated, which helps maintain businesses during ownership changes.
Access to Funding Sources: LLPs are capable of attracting funds from various entities, including partners, investors, and banking institutions, fueling growth and expansion.
Enhanced Credibility: By being a registered LLP, businesses can bolster their credibility and brand image, which can be advantageous for attracting clients and investors.