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Limited Liability Partnership (LLP) Registration Online
Limited Liability Partnership (LLP) registration offers a blend of a partnership’s operational ease with a company’s limited liability. This structure enables partners to manage their business flexibly while protecting their personal assets from business liabilities. LLPs, governed by the Limited Liability Partnership Act, 2008 in India, require a minimum of two partners, and they must file incorporation documents with the Registrar of Companies. LLPs are particularly attractive for professionals and small-to-medium enterprises looking for a simpler yet protected business entity.
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Benefits of LLP Registration
➡️ Flexibility in Business Management:
- LLPs provide flexibility in managing and operating the business.
- Partners can define their roles, responsibilities, and decision-making processes through a partnership agreement.
➡️ Perpetual Succession:
- An LLP enjoys perpetual existence, unaffected by changes in partners.
- The departure or addition of partners does not impact its continuity.
➡️ Separate Legal Entity:
- An LLP is a body corporate with its own legal identity.
- It can enter into contracts, sue, and be sued in its own name.
➡️ Limited Liability:
- Partners’ liability is restricted to their contributions.
- Personal assets remain protected; partners are not personally liable for the LLP’s debts.
➡️ Number of Partners:
- An LLP can have any number of partners, with no upper limit.
- At least two designated partners are required, one of whom must be a resident of India.
➡️ Common Seal:
- Unlike traditional partnerships, LLPs do not require a common seal for official transactions.
➡️ Profit Motive:
- LLPs operate with a profit motive, making them suitable for business ventures.
➡️ LLP Agreement:
- Partners’ rights, duties, and obligations are governed by an LLP agreement.
- This agreement outlines the internal workings of the LLP.
➡️ Conversion into an LLP:
- Existing partnerships or companies can convert into LLPs.
- The process involves filing necessary documents with the Registrar of Companies.
➡️ Absence of Mutual Agency:
- Unlike traditional partnerships, partners in an LLP do not act as agents for each other.
- Their actions do not bind other partners.
In summary, LLPs strike a balance between partnership dynamics and limited liability, making them an attractive choice for small and medium enterprises in India.
How to Register your LLP with Us?
The process of registering for LLP with us is simple and easy. Just follow these steps:
- Step 1: Fill up our online enquiry form with your basic details such as name, email, phone number.
- Step 2: Complete the payment online or you can Contact Us to get more information.
- Step 3: You will need to provide us with the necessary documents for LLP registration. You can send them via email info@taxdoctorconsultant.com or WhatsApp: +91-9953179605
How We Can Help You
- Professional service: We have a dedicated team of qualified and experienced professionals who will handle your LLP registration with utmost care and accuracy.
- Affordable fee: We charge a reasonable fee for our LLP registration service, which is inclusive of all taxes and charges. There are no hidden or extra costs involved.
- Fast turnaround: We complete your LLP registration within few days, depending on the availability of documents and verification by the tax authorities.
- Expert support: We provide 24x7 days expert support via phone, email, and chat. You can reach out to us anytime for any query or issue.
List of Documents Required for LLP Registration
Documents for Partners
- PAN Card
- Residence Proof (Voter ID, Passport, Driver's License, Utility bills, Aadhaar card)
- Passport-size Photograph
- Passport (for Foreign Nationals/ NRIs, notarized or apostilled)
- Proof of Address (Driving license, bank statement, residence card, etc., for Foreign Nationals/ NRIs)
Documents for LLP
- Proof of Registered Office Address (Utility bills, rent agreement, no objection certificate from landlord)
- Sale Deed/Property Deed (for owned property)
- Certificate of Incorporation / Copy of Partnership Deed
- Digital Signature Certificate
FAQ's on LLP Registration
A Limited Liability Partnership (LLP) is a unique hybrid business structure that combines the benefits of a traditional partnership with the advantages of limited liability offered by a company. Here’s a breakdown:
Legal Entity: An LLP is a separate legal entity from its partners, meaning it can own assets and incur liabilities in its own name.
Limited Liability: Partners in an LLP enjoy limited liability, which means their personal assets are protected from the business’s debts and obligations. They are only liable to the extent of their capital contribution.
Flexibility in Management: LLPs offer operational flexibility, allowing partners to manage the business and make decisions as agreed upon in the LLP Agreement without the formalities required in a corporation.
No Minimum Capital Requirement: There’s no mandated minimum capital contribution, making it easier to start and operate.
Tax Benefits: LLPs often enjoy tax benefits, such as being taxed at the entity level rather than the individual level, avoiding double taxation.
LLPs are governed by the Limited Liability Partnership Act, 2008 in India, making them an attractive option for professionals, small and medium-sized enterprises, and businesses looking for a simpler yet secure business structure.
Yes, an existing partnership firm can be converted into an LLP by complying with the provisions of clause 58 and Schedule II of the LLP Act.
Yes, any existing private company or unlisted public company can be converted into an LLP by complying with the provisions of clause 58 and Schedule III and IV of the LLP Act.
No, only private or unlisted public companies can be converted into LLPs
The registration process typically takes about 10-15 days, depending on the completeness and accuracy of the submitted documents.
The costs include government fees for name reservation, incorporation, and LLP Agreement filing, which can vary based on the state and the registrar’s office.
Yes, every LLP must file an annual return in Form 11 within 60 days from the end of the financial year, and a Statement of Accounts and Solvency in Form 8 within 30 days from the end of six months of the financial year.
Only LLPs with a turnover exceeding ₹40 lakhs or a contribution exceeding ₹25 lakhs need to have their accounts audited by a Chartered Accountant.
Yes, LLPs can accept FDI subject to compliance with FDI policy and regulations prescribed by the Reserve Bank of India.
Yes, if an LLP is not carrying on any business or operation for one year or more, it can apply for striking off its name from the register of LLPs using Form 24.