Limited Liability Partnership Registration in Gujarat
The Limited Liability Partnership (LLP), governed by the Limited Liability Partnership Act of 2008, offers a versatile and organized framework for business operations. In Gujarat, the registration of LLPs is becoming increasingly popular among entrepreneurs aiming to start new businesses. On the other hand, Private Company registration continues to be a preferred choice for businesses of all sizes in India. Start-ups and companies with significant growth ambitions often select Private Company registration because of its favourable structure and potential for expansion.
There are two types of Limited Liability Partnership (LLP) Registration:
Regular LLP Registration: This outlines a typical procedure for Online LLP Registration tailored for business activities. The LLP is administered by its partners and is taxed according to the Income Tax Act.
Conversion LLP Registration Online: An existing partnership firm can transition to an LLP through the Online LLP Conversion Registration process. In this changeover, the firm's partners assume the role of designated partners in the LLP, and the assets and liabilities of the firm are transferred smoothly. This conversion provides multiple benefits, such as limited liability protection for the partners, the LLP's status as an independent legal entity, and possible tax benefits.
Checklist for LLP Company Registration:
- Minimum of two designated partners: An LLP is required to have at least two designated partners, one of whom must be a resident of the country where the LLP is registered.
- Digital Signature Certificate (DSC): All designated partners are required to acquire a Digital Signature Certificate (DSC) for the purpose of electronically signing documents.
- Designated Partner Identification Number (DPIN): Every designated partner needs to obtain a Director’s Personal Identification Number (DPIN) from the Ministry of Corporate Affairs (MCA) or the appropriate authority in their country.
- LLP Agreement: An LLP agreement is a legal document that specifies the rights, duties, and responsibilities of the partners and outlines the management structure of the LLP. It must be prepared and filed with the Registrar of Companies (ROC) within 30 days of the LLP's incorporation.
- Address proof: The registered office of the LLP must provide a valid proof of address.
DOCUMENTS REQUIRED
Documents required for Limited Liability Partnership (LLP) Registration
For Director/Shareholders:
- Self-attested Pan card
- Self-attested Voter id or Driving license or Passport
- Self-attested Bank statement or electricity/telephone/mobile bill
- Recent passport-size photo
For Registered address of company:
If the premise is rented/leased
- Copy of the Electricity bill of the owner
- Rent or lease agreement
- NOC from the owner of the property
If the premise is Owned
- Copy of the Electricity bill of the owner
- NOC from the owner of the property
REGISTRATION PROCESS
LLP Registration Process
- Name Reservation
- Procurement of Digital signatures
- Preparation of Incorporation documents
- Drafting of LLP Deed
WHY US
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
- Razor pay/Payu money payment gateway for online payment
Top 10 advantages to registering as LLP Registration in Gujarat
- Limited liability: The partners of an LLP are responsible for the LLP’s debts and obligations only up to the extent of their contributions, ensuring that their personal assets remain secure and unaffected.
- Separate legal entity: A Limited Liability Partnership (LLP) acts as an independent legal entity, distinct from its partners. This allows the LLP to independently enter into contracts, hold property, and participate in legal actions.
- Flexibility in management: The partners of an LLP have the freedom to operate the business and make decisions independently, without interference from external shareholders.
- Easy to set up: Forming a Limited Liability Partnership is a simple and efficient process, with fewer documentation requirements compared to other business structures.
- Perpetual succession: An LLP benefits from perpetual succession, meaning it continues to operate despite changes in its partners, including their departure or death.
- Tax benefits: LLPs benefit from lower tax rates than companies, and partners are not subject to taxation on the profits they receive from the LLP.
- Less compliance requirements: LLPs benefit from lower tax rates than companies, and partners are not subject to taxation on the profits they receive from the LLP.
- Transferability of ownership: In India, ownership transfers in an LLP are uncomplicated, allowing the LLP to operate seamlessly despite changes in its ownership.
- Access to funding: LLPs can obtain funding from partners, investors, and banks, which supports their growth and expansion.
- Credibility and brand image: Registering as an LLP enhances the business's credibility and professional image, making it easier to attract customers, investors, and partners.