Limited Liability Partnership Registration
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Limited Liability Partnership, Legislature has enacted LLP Act 2008. LLP Offers more enhanced feature than general tradition partnership.
With the latest amendment,the Limited Liability Partnership Registration procedure has been simplified by the MCA. Everything including Limited Liability Partnership Registration fee will be covered here.
Package Inclusions DSC of 2 Partners DPIN for 2 Partners Name Reservation for LLP registration Partnership Deed Drafting LLP Identification Number PAN & TAN Bank Account Opening template
What is an LLP registration? LLP or Limited liability partnership (LLP) is a form of business organization in India. An LLP registration offers more advantages to business owners in comparison to the general partnership.An LLP offers advantages of both a company as well as of a general partnership
LLP is the preferred form of business among professional service providers and small and medium size business owners. Businesses that are family-based or closely held by few people prominently opt for an LLP registration in India.
Limited liability partnership registration is the official process of incorporation of LLP form of business organization. The business partners provide necessary documents to the Ministry of corporate affairs to obtain the certificate of incorporation.This process is executed with the help of professionals.
The Limited Liability Partnership Act, 2008 governs the conduct of LLP's. Additionally, every LLP in India needs to add the word ‘LLP’ as suffix at the end of the LLP’s name.
What are the benefits of an LLP Registration in India? Limited Liability The liability of all the partners is limited in an LLP. The personal assets of the partners will not be confiscated to pay the losses incurred by the company.
Limited liability also means that the partner is immune to the consequences that arise as a result of the wrongdoings of other partners.
No minimum capital requirement There is no minimum capital requirement for incorporating an LLP.
No audit requirement There is no requirement for an audit in case of LLP's unless the annual turnover crosses the limit of 40 lakhs INR or the capital contribution exceeds 25 lakhs INR.
Easy transfer of ownership There is a facility for easy transfer of ownership in an LLP. Unlike, the traditional partnership, the introduction of a new partner does not affect its existence.
Separate legal entity An LLP is a separate legal entity in its capacity. It follows the principle of perpetual succession. The addition of a new partner or an exit of existing one does not dissolve its existence. Additionally, the assets of the business are not owned by the partners.
Minimum Requirements to Register an LLP Firm Minimum of two designated partners Minimum of two designated partners is necessary for LLP registration. However, there is no limit for the maximum number of partners (Partners can be either Individual or Body Corporate).
One Indian Partner Minimum one Designated Partner must be an Indian resident.
DPIN DPIN (Designated Partners Identification Number) for all Designated Partners
DSC DSC (Digital Signature Certificate) for all the Designated Partners
Registered office Address proof for the registered office. (Office can be either a commercial or residential place)