Incorporating a Partnership Firm as Limited Liability Partnership(LLP)
A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It therefore can exhibit elements of partnerships and corporations. In an LLP, each partner is not responsible or liable for another partner’s misconduct or negligence. It is governed by Ministry of Corporate affairs of India. Register your LLP with us we are India’s Best Startup Consultants. Registration of Business as LLP Limited Liability Partnership in India at Lowest Price.Get Chartered Accountants Advice at no cost
Minimum Requirement for LLP Registration
2 Designated Partners
It can be formed with a minimum of 2 Designated Partner
Office Address is needed. Address can be Residential or commercial.
Documents required for Company Registration
PAN Card of Designated Partners.Foreign nationals must provide a valid passport.
Registered office Proof
Latest Electricity Bill/ Telephone Bill/Water/Gas Bill of the registered office address
Aadhar card/Voter ID/Passport/Driving License of Designated Partners.
NOC from owner
No Objection Certificate to be obtained from the owner(s) of registered office
Latest Telephone Bill/Electricity Bill/Bank Statement /Gas/Water Bill of Designated Partners
If Property is taken on Rent, then rent agreement required. Agreement must be notarized.
Latest Passport size Color photograph of Designated Partners
All the documents must be apostilled(if applicable) and notarized.
Our Professional Fees for LLP Registration
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FREQUENTLY ASKED QUESTIONS (FAQs)
WHAT IS DIFFERENCE BETWEEN LLP & TRADITIONAL PARTNERSHIP FIRM?
Under “traditional partnership firm”, every partner is liable, jointly with all the other partners and also severally for all acts of the firm done while he is a partner.
Under LLP structure, liability of the partner is limited to his agreed contribution. Further, no partner is liable on account of the independent or un-authorized acts of other partners, thus allowing individual partners to be shielded from joint liability created by another partner’s wrongful acts or misconduct.
WHAT IS THE DIFFERENCE BETWEEN LLP & COMPANY?
A basic difference between an LLP and a joint stock company lies in that the internal governance structure of a company is regulated by statute (i.e. Companies Act, 1956) whereas for an LLP it would be by a contractual agreement between partners.
HOW DO I CHOOSE NAME FOR THE LLP?
First ensure that LLP name is not similar to any other Private limited, OPC, LLP or Public limited company. Also, do check If your first is not a registered trademark taken by anybody under the IP act.Also, make sure the name is not too generic to be accepted by the ROC land also, try not to use abbreviations, adjectives.While choosing the name make sure that name should contain the objective of the business like if the objective is I then word is Technology, techno soft, IT consultancy. You can Check your company name from www.mca.gov.in
WHAT IS DESIGNATED PARTNER IDENTIFICATION NUMBER (DPIN)?
Any person intending to become Designated Partner in a LLP must apply for Designated Partner identification number, issued by the Ministry of Corporate Affairs. Proof of identity and address is required to be submitted along with requisite fee while submitting the application for DPIN. If the documents are in order, the DPIN is approved within 3-4 days. The approved DPIN is valid for life.
CAN A SALARIED PERSON BECOME THE PARTNER IN LLP?
Yes, a salaried person can become the partner in LLP , but there should not any legal bondages with your employment agreement if it contains any restrictions on doing so.
HOW LONG IS THE PROCESS OF LLP REGISTRATION
The Process of LLP Incorporation usually takes 15-20 working days.But some times due to extra work load of ROCs, this times may be increases.
WHAT DOES IT COST TO START AND OPERATE A LLP?
The cost of LLP registration can be divided into government and professional fees. Professional fees can, however, vary based on the legal talent you hire to get the job done for you.
WHETHER I NEED TO VISIT YOUR OFFICE?
No, LLP Registration process is online.You doesn’t need to come office. All the documentation part can be done through courier/speed post. If you wish to come & Visit our office you can come after taking an appointment with us.
WHAT IS THE MINIMUM CAPITAL REQUIRED TO START A LLP?
There is no minimum capital required to start a LLP under the LLP Act, 2008 but as a general practice Rs. 20000 has been taken a initial capital for a LLP.
IS IT ALLOWED TO CHANGE REGISTERED OFFICE OF THE LLP AFTER REGISTRATION?
Yes, A LLP can change its registered office any time after following specified procedure. The changed address can be situated within the same state or in a different state from the state in which it was originally registered.