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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

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

  • Complete solution for starting a Nidhi Company, including incorporation of limited company, issue of shares and obtaining Nidhi status.

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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

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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.

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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.

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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.

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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.

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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.

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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

    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

    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

    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

    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

    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

Identity Proof of Partners

  • 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.

Compare your Options

Comparison of Popular Company Registration Options

All Features

Price

  • Recommended for
  • Venture Capital Funding
  • Limited Liability Protection
  • Dividend Tax
  • Deposits from public
  • Share Listing in Stock Exchange
  • Credibility

Public Limited

₹37899

  • Growth Stage and also for early stage with broad business vision
  • 10/10

Private Limited

₹12999

  • Early-stage entrepreneurs with broad business vision
  • 7/10

Limited Liability Partnership

₹7999

  • Professional service firms
  • 5/10

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