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Best Structure for non-stopping Professionals and small entrepreneurs. Register a Limited Liability Partnership Online and fastest with the expert Professionals

INR 8,499 6,499/- including Govt. Expenses Hurry Up!!! Get it now or never in this price.

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The package includes: 1. Free Incorporation Advisory by expert Chartered Accountant 2. Two DSC & Digital Partner Identification Number 3. Name Reservation with MCA 4. Professionally drafted LLP Agreement 5. Filing of Form LLP-1, 2 & 3 6. LLP Identification Number 7. LLP PAN & TAN

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Overview

The concept of Limited Liability Partnership was introduced in India by way of Limited Liability Partnership Act, 2008. An LLP entails the benefits of both Company and Partnership into one business format. Its main difference from a general partnership lies in the provision of limited liability protection to all partners, which implies that one partner is not liable for the misconduct or negligence of another, similar to the shareholders of a private limited company. However, unlike shareholders, the partners have a right to make decisions for the company. With an easy incorporation process and simple compliance formalities, LLP is preferred by professionals, micro and small businesses that are family owned or closely-held.

Two or more individuals can come together to incorporate a Limited Liability Partnership and all the partners enjoy the ownership of the company. LLP companies cannot issue stocks or invite IPOs; only the members of the partnership, or the partners are the owners. However, since LLPs enjoy the status of a juristic person, they can invest in the stocks of other companies.

An LLP is a body corporate and a legal entity separate from its partners. It has perpetual succession which means death of any partner does not impact on the working of LLP. Indian Partnership Act, 1932 does not be applicable to LLPs and there are no upper limit on number of partners in an LLP unlike an ordinary partnership firm where the maximum number of partners can-not exceed 20.

Complykart is the Industry leader and trusted Company in Registration and managing hundreds of Companies across India. With a team of expert professionals, we offer exceptional services in minimum time. Get a free consultation for Limited Liability Partnership registration and business setup in India by scheduling an appointment with our expert professionals.

Advantages of a Limited Liability Partnership

Separate Legal Entity with Limited Liability

An LLP is a legal entity and a juristic person, therefore it has a wide legal capacity where it can own property and incur debts. No partner can claim property in its personal name.

Limited liability

As evitable from the name, the Limited liability partnership limits the liabilities of a single partner towards a business and keeps each of them responsible for the smaller fragment of the business. This further divides the risk of the business and keeps each partner answerable for their own part of the business.

Easy Transferability

The ownership of a LLP can be easily transferred to another person by inducting them as a Designated Partner of the LLP and altering the LLP agreement.

No Audit Requirement & less Tax Liability

A LLP does not require Audit of its financials if it has a turnover of less than INR 40 lakhs and a capital contribution of less than INR 25 lakhs. Moreover, there is no tax liability on the distribution of profits amongst the partners.

Ease of Incorporation

LLPs are easy to incorporate and manage, as there are less compliances, and at lower cost, since there are no upper caps on number of partners or capital contribution.

Less Statutory Expenses

A LLP is not required to keep various statutory record and does not required to comply with much rules therefore, the expenses of a LLP is considerably less than a Company.

Registration Procedure

  • 1

    Furnish the Pre-requisites

    The documents, as explained by our experts should be readied before starting the registration process. This includes a registered office address with documentary proof.

  • 2

    Obtain a Digital Signature Certificate (DSC)

    All document submissions are done electronically and hence every partner must obtain a Digital Signature Certificate (or DSC), which is used to verify the authenticity of the documents.

  • 3

    Selection of the name of the LLP

    Two proposed names must be submitted to the MCA. Subject to availability, naming guidelines and MCA processing time, name approval can be obtained in 2 to 4 working days. Names provided should be unique and suggestive of LLP’s business.

  • 4

    Draft LLP Agreement

    The LLP agreements are the mutual rights and duties that are shared between the different partners. This agreement is then printed in the Stamp Paper and notarized. The cost of the stamp paper is different in different states.

  • 5

    LLP Registration

    Documents for registration can be submitted to the MCA along with e-Form FiLLiP for registration. MCA will usually approve the application for incorporation in 10 to 12 days, subject to their processing time.

Documents Required for Registration

  • A copy of PAN (mandatory) for Indian Nationals.
  • Notarized copy of Passport for Foreign Nationals.
  • Passport or Driving License
  • Recent copy of electricity bill/ property tax receipt/ water bill, not less than 2 months old.
  • A copy of the rental agreement or sale deed for Registered Office Proof.
  • Signed Digital Signature Application in hard copy
  • Copy of Aadhar Card AND Bank statement.

    • How Complykart helps in this Entire Process

    Consulting

    Our LLP Incorporation experts will provide you best consultancy on Registration procedure and the required documents to be provided.

    Help in preparing Relevant Documents

    We help our clients in preparation of application and necessary documents to be presented to Registrar for Registration.

    Filing of Document with Registrar

    We will fill the e-Form FiLLiP along with necessary documents required for getting the approval which is obtained within 10 -12 days.

    Follow-Up

    Our experts continuously follow up with the development with the Authorities and ensure speedy registration process.

    Compare Your Options

    Private Limited Limited Liability Partnership Partnership Firm One Person Company Proprietorshup Firm
    Ideal For entrepreneurs with Vision Profesionals & small Traders Small Businesses Firms Indivisual Promoter Small Business
    Venture Capital Fundind Available Available Not Available Not Available Not Available
    Limited Liability Protection Limited on Promoters Limited on Promoters Unlimited Liability Limited on Promoter Unlimited Liability
    Existence of Business Perpetual Existence Perpetual Existence No Perpetual Existence Perpetual Existence No Perpetual Existence
    Tax Advantage Fewer Benefits Maximum Benefits No Benefits Fewer Benefits No Benefits
    Compliances High Low Minimum High Minimum
    Time taken in Incorporation 7-8 Days 20-25 Days 5 Days 7-8 Days 5 Days
    Cedibility High High Low Low Minimum
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