LLP REGISTRATION

Limited Liability Partnership Registration

Limited Liability Partnership has been introduced in India by way of Limited Liability Partnership Act, 2008. LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a Partnership. A Limited Liability Partnership combines the advantages of both the Company and Partnership into a single form of organization and one partner is not responsible or liable for another partner's misconduct or negligence. It is very easy to form LLP, as the process is very simple as compared to Companies and does not involve much formality.A LLP is indeed advantageous because of comparatively lower cost of formation, lesser compliance requirements, easy to manage and run, partners are not liable for the acts of the other partners.

Highlights

It’s quick and easy to get started

It’s now very easy to start partnership and it can all be done online.Now you can start a limited liability partnershipin few days. What’s more, the cost of incorporating is an allowable expense against corporation tax

Limited Liability

A LLP exists as a separate legal entity from your personal life. Both LLP and person, who own it, are separate entities and both functions separately. Liability for repayment of debts and lawsuits incurred by the LLP lies on it and not the owner.

Easy Transferable Ownership

It is easy to become a Partner with minimum number of documents or leave the LLP or otherwise it is easier to transfer the ownership in accordance with the terms of the LLP Agreement.


Body Corporate

Just like a Company, LLP is also body corporate, which means it has its own existence as compared to partnership. LLP and its Partners are distinct entity in the eyes of law. LLP will know by its own name and not the name of its partners.

Taxation Aspect on LLP

For income tax purpose, LLP is treated on a par with partnership firms. Thus, LLP is liable for payment of income tax and share of its partners in LLP is not liable to tax. Thus no dividend distribution tax is payable.

Raising Money

Financing a small business like sole proprietorship or partnership can be difficult at times. A LLP being a regulated entity like company can attract finance from PE Investors, financial institutions etc

FAQs

What is a Limited Liability Partnership?

A LLP is a new form of legal business entity with limited liability. It is an alternative corporate business vehicle that gives the benefits of limited liability but allows its partners the flexibility of organizing their internal structure as a traditional partnership. The LLP is a separate legal entity and, while the LLP itself will be liable for the full extent of its assets, the liability of the partners will be limited.

Can Existing Partnership firm convert itself into a LLP?

Yes, you can convert your existing Partnership firm into a Limited Liability Partnership. The process is also very simple and not cumbersome.

What is minimum number of partners required in LLP?

At least two partners required to register a LLP

How do I chose a name for LLP?

Make sure that proposed name is not similar to existing private limited company or LLP or OPC or Public company. Also ensure that proposed name is not a registered trademark taken by anybody under IP act.

Can a minor be appointed as a Partner in a LLP?

The Designated Partners needs to be over 18 years of age and must be a natural person. Even foreign nationals can be appointed as a Partner with the approval for Foreign Contribution Promotional Board.

Can a Salaried person become a Partner in LLP?

Yes, a salaried person become a Partner, there are no legal bondages in this but you may have to go through with your employment agreement if it contains any restrictions on doing so.

What is the time frame for registering my LLP?

We can register a LLP within 10 to 15 days of time. But the documents submitted should be as per our requirements and also within time. If there is any delay in submitting the docs the mentioned time frame may change..

Whether a body corporate can become partner in LLP?

Yes.

What do I need to quickly incorporate my LLP?

To Start a LLP quickly, make sure the proposed name of the Limited Liability Partnership is very unique. Names that are similar to an existing private limited company / limited liability partnership can be rejected and extra time will be required for resubmission of names.

Can an LLP be converted into a private limited company in future?

No. The Companies Act, 2013 not have any provision for conversion of an LLP into a private limited company.

What is a Digital Signature Certificate?

A Digital Signature establishes the identity of the sender or signee electronically while filing documents through the Internet. The Ministry of Corporate Affairs (MCA) mandates that allDesignated Partners to apply with a Digital Signature for Designated Partner Identification Number.

Do I need to courier all the copies of the documents every time you require them?

Not at all. You only need to send us the scanned soft copies through email. All documents are filed electronically with the department. Hence, there is no requirement of couriered hard copies.

Process Flow

Send Necessary documents to us in soft copy

Send us  necessary documents required for LLP incorporation our expert will advise on same.




1 Day


We apply for DSC and DIN for Partners

Digital Signature Certificate  and DIN is required for proposed LLP Incorporation. DIN and DSC can be obtained for proposed LLP in 1 -2 working days.




1 Day


Prepre partneship deed for LLP

Our Expert Team will prepare partnership Deed agreement with required teams and conditions as per your business need. Name approval & Deed takes time of 5-6 days




1 Day


We file applicatiopn to MCA & issue you incorporation certificate

Our Expert Team make application of LLP incorporation to ministry of corporate affairs . After application in 5-6 working days MCA issue certificate of incorporation. Subject to Approval of MCA.




1 Day






Services Offering

We at Startup Setup focus on helping clients design and build Tomorrow’s organization. We provide real world solutions to complex business issues through, company formation, taxation advice, compliances, out sourced accounting etc.with expert team.

Starting Business

Our experienced team of professional and help you in deciding and incorporating Private Limited, LLP, One Person Company, proprietary firm and other business entities. We advise on complete one roof services for business registrations.

Taxation Consultancy

We are a team of expert’s offering Business Taxation Services in direct and indirect taxation to the manufacturers, Traders, Dealers and service providers of the industry for all taxation in India. Effective tax planning helps to reduce pricing.

Corporate Compliance

Indian companies and LLP are require do comply with various statutory provisions by filling return with MCA. Our teams helps for timely filling of compliance. Timely filling of returns avoid late filling penalty.

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