Limited Liability Partnership Registration in Punjab

In Punjab, an LLP must include at least two partners to enable joint decision-making and distribute tasks within the company. A registered office address in Punjab is also necessary as the LLP's official contact point. The appointed partners ensure effective governance and operational efficiency through their compliance and management.

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

Regular LLP Registration: This details the standard online LLP registration process, adapted for different business activities. The LLP is overseen by its partners and taxed according to the Income Tax Act.

Conversion LLP Registration Online: An existing partnership firm can seamlessly convert to an LLP through the Online LLP Conversion Registration process. In this transition, the firm's partners take on the roles of designated partners in the LLP, with the firm's assets and liabilities being transferred smoothly. This conversion offers several benefits, including limited liability protection for the partners, recognition of the LLP as a distinct legal entity, and potential tax benefits.

Checklist for LLP Company Registration:

1. Minimum of two designated partners: An LLP must include at least two designated partners, with one partner being a resident of the country where the LLP is registered.
2. Digital Signature Certificate (DSC): All designated partners need to obtain a Digital Signature Certificate (DSC) to electronically sign documents.
3. Designated Partner Identification Number (DPIN): Each designated partner must obtain a Director’s Personal Identification Number (DPIN) from the Ministry of Corporate Affairs (MCA) or the relevant regulatory authority in their area.
4. LLP Agreement: An LLP agreement is a legal document that outlines the partners' rights, duties, and responsibilities, as well as the management structure of the LLP. It must be drafted and filed with the Registrar of Companies (ROC) within 30 days of the LLP's formation.
5. Address proof: The LLP's registered office must present valid documentation to verify its 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

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 LLP Registration in Punjab

• Limited liability: In an LLP, partners are responsible for the LLP's debts and obligations only up to the extent of their individual contributions, thus protecting their personal assets from being used to settle these liabilities.
• Separate legal entity: A Limited Liability Partnership (LLP) operates as an independent legal entity, distinct from its partners, allowing it to enter into contracts, hold property, and participate in legal actions on its own.
• Flexibility in management: The partners of an LLP have the freedom to manage the business and make decisions independently, free from interference by external shareholders.
• Easy to set up: Forming a Limited Liability Partnership is a streamlined and efficient process, with fewer documentation requirements than other business structures.
• Perpetual succession: An LLP enjoys perpetual succession, which enables it to remain operational without interruption despite changes in partners, such as departures or deaths.
• Tax benefits: LLPs have lower tax rates than companies, and the profits received by partners are not subject to additional taxation.
• Less compliance requirements: LLPs benefit from lower tax rates than companies, and the profits allocated to partners are not subject to taxation.
• Transferability of ownership: In India, ownership transfers in an LLP are simple, enabling the LLP to operate smoothly even when ownership changes occur.
• Access to funding: LLPs can obtain funding from partners, investors, and banks, which supports their growth and expansion.
• Credibility and brand image: LLPs can secure financing from partners, investors, and banks, helping to fuel their growth and expansion.