Seamless LLP Incorporation Solutions
Make a significant impact in the business world with our all-encompassing LLP business registration services. As a legally recognized corporate entity, starting up as a Limited Liability Partnership (LLP) offers distinct benefits such as a separate legal identity and limited liability protection.
* Excluding Govt. Fees, Stamp Paper, Notar & DSC Charges
Overview
An LLP is a business structurewhich is registered under The Limited Liability Partnership Act, 2008,In LLP persons willing to carry business become partners and enter into an agreement which outline the rules and framework within which the LLP will pursue its objective.
Being a body corpporate LLP holds an edge over Partnership firm as LLP gets more brand recognition and sense of structured entity.
At the initial stage of business setup, LLPs are an excellent choice due to their manageable compliance requirements and cost-effectiveness.
Features
- Status of body corporate: under LLP registration, LLP is a body corporate which enjoys status of separate legal entity and perpetual succession, thuspartners of LLP are considered separate from LLP.The LLP can continue its existence irrespective of changes in its partners.
- Designated Partners and Partners: LLP shall have at least two designated partners who are individuals and at least one should be resident in India, Body corporates can also be members of LLP where nominee of such body corporates will be considered as designated partner.
- LLP Agreement: All the mutual rights and liabilities of partners will be governed by LLP agreement including its objectives, duties, manner of induction and cessation, termination and other important clause.
- Partner Status: Every Partner of LLP is an agent of LLP for the purpose of carrying business of LLP.
- Liability: Partners are not held personally liable directly or indirectly solely for the reason of being partners, unless they have acted without authority and breached clauses of partnership by wrongful act.
LLP Registration Process
- Partners to have valid class three digital signature certificate and DIN/DPIN.
- Partnership Firm to apply for name in form RUN_LLP with Central Registration Centre, governed and controlled by MCA.
- After approval of name, apply for incorporation or DIN (if do not have DIN) of LLP in Form FiLLiP.
- Alternatively, Firm can directly file form FiLLiP as it also gives option of name reservation in the form along with incorporation and DIN approval.
- Partners to enter into an LLP agreement which outlines the management and working of LLP.
- File E Form 3 for providing information of LLP agreement with the Central Registration Centre.
Documents Required
- Self attested PAN Card of Partners;
- Self attested Aadhar Card of Partners;
- Passport size Photos;
- Mobile Number of the Partners;
- Mail Id of the Partners;
- Self attested proof of Residence of the Partners and Designated Partners (any one of the below):
- Bank Statement;
- Electricity Bill;
- Gas Bill;
- Mobile Bill
- Self attested proof of Registered Office (Any one of the below):
- Electricity Bill;
- Gas Bill;
- Mobile Bill;
- NOC from the owner of the Property for usage of Registered office
What is included in this
FAQs
No, LLP is governed by LLP Act, 2008.
Yes, it is.
Minimum two designated partners required.
- All partners of the Firm to become partners of LLP and no else cannot be partner at the time of application.
- Consent of all secured creditor is to be obtained prior to making application for conversion.
- All applicable clearances, approvals and permissions for conversion of the firm into LLP For example if any firm is registered with any institutional body like Institute of Company Secretaries of India (ICSI) then it should seek approval from ICSI for such conversion.
Ministry of Corporate Affairs vide its circular dated 09/2013 clarified that Provisions for LLP Act,2008 specifies for conversion of Firm into LLP, it is not allowed to convert two or more firms into one LLP
Form 8 | Statement of Account & Solvency
| Within 30 days from the end of six month of the Financial Year
|
Form 11 | Annual Return
| Within 60 days from the closure of the Financial Year
|
Particular | Limited Liability Partnership | Partnership Firm |
Registration | LLP comes into existence only after registration | It is not necessary to register a partnership firm.
Partners may or may not register their Firm |
Act | LLP is governed by LLP Act, 2008 | Partnership Firm is governed by Partnership Act, 1932 |
Perpetual Succession | It enjoys perpetual succession | Does not have perpetual succession |
Status
| Separate Legal Entity | No Separate Legal Entity |
Designated Partner | Minimum two designated partners required | No concept of Designated Partner |
Residency |
One partner must be resident in India |
No such requirement |
Public interface | Documents can be available after payment of certain fees to the Ministry of corporate affairs | No such facility for partnership firm
|
Compliance | LLP Registration is easier in comparison to Company registration process. However, from compliances point of view, there are more compliance as required including accounting process, annual return, filing statement of asset and liability etc in LLP. | Comparatively less compliance |
