LLP Registration (Limited Liability Partnership)
Ideal for small enterprises
For like-minded partners
Simple & Secure Online Process
Dedicated Professional
Get Registration in 7-10 Days
Get Post Incorporation Assistance
Introduction of LLP Registration
The main object behind is that one partner should not be liable for the acts or negligence of other partners. It combines the features of Partnership and a Company like separate legal entity, limited liability etc. Further, it involves less legal formalities and is easy to register.
People often get confused between the selection of their entity whether to go for Private Limited Company or for LLP. LLP is for those people who want to run safe and risk free business and do not want to raise any funding in future from the market and maintain a less compliance entity.
Compliance Sagar has team of experts providing you the best assistance, timely delivery and guaranteeing the highest customer satisfaction with respect to LLP formation process. You may get in touch with our team on +91 90797 59095 or email cssunil93@gmail.com for LLP registration and LLP Compliance services.
Advantages of Limited Liability Partnership
Limited Liability
Likewise Companies the Liability of Partner of LLP is limited to the amount of capital contributed by them limiting the risk of business and thereby safeguarding the assets of Partners.
Separate Legal Entity
The Limited Liability Partnership Act, 2008 also provides the benefit of Separate Legal Entity which says that the LLP is distinct from its Partners.
Less Compliance Formalities
The Limited Liability Partnership involves less compliance burden in comparison to any other corporate entities in thereby making it cost friendly also.
Lower Registration Cost
The cost involved in registration of a Limited Liability Partnership is much less than any other corporate entity.
No compulsory requirement of Audit
There is no requirement of statutory Audit of a Limited Liability Partnership. It is only required in the specified cases.
Flexible Agreement
LLP Agreement can be modified as per the requirements of the partners like addition or removal of partners, banking transactions.
Minimum Requirements for LLP Registration
Documents Required for LLP Registration
PAN Card of all partners
Passport size photograph of all the partners
Proof of Identity (Driving License/Voter ID Card/Passport) of the Partner
Proof of Address (Utility Bill/Bank Statement/Telephone Bill which should not be later than 2 months)
Business Address Proof Owned Property : (Copy of Registry and Latest Govt. Electricity Bill or Water Bill)
Business Address Proof Rented/leased: (Rent Agreement, NOC from the Owner, Latest Govt. Electricity Bill or Water Bill)
Note:- In case of NRI or Foreign National documents of Directors and Subscribers must be notarized or apostillled.
Process of Incorporation of Limited Liability Partnership(LLP)
Limited Liability Partnership Company
Standard
- 2 Director Identification Numbers
- 2 Digital Signature Certificates
- 1 Name Approval Application under RUN
- Draft LLP Agreement (Stamp Duty and Notary Excluded)
- LLP Incorporation Certificate
- PAN
More Insights on LLP Registration
How to Select the Name of Company
- You can check Company name availability thereby logging into MCA where you need to keep in mind two or three available options along with the activity type. Our team will assist you in the selection of name of LLP.
- Also, along with checking the name availability we also need to check the trademark if already registered under the proposed name which makes the online application for registration more powerful. If you want to have a trademark of your word or logo you can get the same through Compliance Sagar by clicking on the link Trademark Registration
Other Key Points
- If the proposed Designated Partner is already having the DIN then you can also check whether DIR-3 KYC is completed. You can verify the same with the help of our experts. If the same is not done yet, it can be done with help of Compliance Sagar.
- The LLP is required to manage all the compliances after incorporation of the LLP like Income Tax Filing, Annual Returns with ROC and other compliances as required by the law. Compliance Sagar has a team of experts who keeps an eye on the due dates of your compliances and reminds you through mails.
- LLP is required to conduct audit in following cases:
- When the contribution of the Limited Liability Partnership exceeds Rs.25 Lakhs
- When the annual turnover of the Limited Liability Partnership exceeds Rs.40 Lakhs.
Choose the right entity type after comparing different business structures
| Basis | Private Limited Company | Public Limited Company | One Person Company | Limited Liability Partnership | Partnership Firm | Proprietorship Firm |
|---|---|---|---|---|---|---|
| Registration Requirement | Companies Act, 2013 | Companies Act, 2013 | Companies Act, 2013 | LLP Act, 2008 | Registered/Unregistered | No Specific Criteria |
| Number of members | 2 – 200 | 7-∞ | Only 1 | Unlimited | 2 -50 partners | Only 1 |
| Number of Director | 2-15 | 3-15 | Only 1 | 2 designated partners | NA | NA |
| Naming of Entity | Unique | Unique | Unique | Unique | No Guidelines | No Guidelines |
| Capital Requirement | Zero | Zero | Zero* | Zero | Zero | Zero |
| Liability of Entities | Limited | Limited | Limited | Limited | Unlimited | Unlimited |
| Foreign Investment | Eligible | Eligible | Not Eligible | Eligible | Not Allowed | Not Allowed |
| Statutory Audit | Mandatory | Mandatory | Mandatory | Mandatory | Not Required | Not Required |
| Compliance Level | Annual Compliance | Annual Compliance | Annual Compliance | Annual Compliance | Less Compliance | Zero Compliance |
| Tax Rate | 22% | 22% | 22% | 30% | 30% | Individual Tax Rate |
| Know more | Know More | Know More | Get Started | Know More | Know More |