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 Income Tax Act governs the LLP's taxation and management by its partners.
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:
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.
Digital Signature Certificate (DSC): All designated partners need to obtain a Digital Signature Certificate (DSC) to electronically sign documents.
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.
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.
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
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
The Top 10 Benefits of 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: Without external shareholders interfering, an LLP's partners are free to run the company and make choices on their own.
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.