Limited Liability Partnership Registration

Register your LLP starting at Just  ₹ 6,500/- only   

 

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 Limited Liability Partnership

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.

Legal Window 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 072407-51000 or email admin@legalwindow.in 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 Requirement

Minimum two Designated Partner

DIN of the Designated Partners

Digital Signature Certificate of one Designated Partner

Contribution whether tangible or intangible property or other benefits of LLP

No Minimum Capital Requirement

At least one Designated Partner should be Indian Resident

Documents Required for Incorporation

Passport size photograph of all the partners

PAN Card of all 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)

1. Complete the Application Form
You are requested to first fill the simple questionnaire provided by our expert team.


2. Document Processing
At the second step we will be requiring the documents in accordance with the questionnaire filled by you so that we can arrange them as per the requirement and for processing.

3. Name Availability
The next step is to check the name availability. Now you need to let us know 3 names which should be unique in nature and should not be similar to name of any other entity registered. It may take at least 1-2 days.

4. E-filing for incorporation of a Company
Once the name is approved, an online application is required to be filed through E-Form Fillip along with the requisite documents as obtained with ROC. This process again takes 2-3 days.

5. Get Certificate of Incorporation
Lastly, after the approval a Certificate of Incorporation will be provided through e-mail which signifies that the LLP has been incorporated.


6. Filing of LLP Agreement
Within 30 days of the incorporation, LLP Agreement as drafted by our team will be shared and after approval from the partners it will be printed on the stamp paper and will be filed with the Registrar of Companies.

Limited Liability Partnership Company ₹6,500/-

2 Digital Signature Certificates

2 Director Identification Numbers

1 Name Approval Application under RUN

Draft LLP Agreement (Stamp Duty and Notary Excluded)

LLP Incorporation Certificate

PAN

More Insights on LLP Incorporation

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 Legal Window 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 Legal Window.
  • 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. Legal Window 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
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Related Posts

FAQs on Limited Liability Partnership(LLP)

What is the minimum capital required to form a Limited Liability Partnership?

There is no minimum capital prescribed for registering LLP under LLP Act 2008.

What are the requirements to become a partner in a Limited Liability Partnership?

Yes, LLP can be converted into a company by following certain terms and conditions as specified under the companies act, 2013.  

Can a Limited Liability Partnership be converted into Company?

Yes, LLP can be converted into a company by following certain terms and conditions as specified under the companies act, 2013.

How much stamp duty is levied for drafting LLP Agreement?

The stamp duty is based upon the capital and the state in which you are incorporating the LLP. The charges of stamp paper and notarization are excluded from our fees.

What are the ROC Annual Compliances and Income Tax Compliances?

The LLP needs to file Form-8 (Annual Financial Statements) and Form -11 (Annual return) compulsorily during the year. Further other forms are based on the events. The LLP has to file the ITR as applicable within the due date. 

Is it necessary get accounts of Limited Liability Partnership audited from an auditor?

Though it is not compulsory by the Limited Liability Partnership Act, 2008 but if the becomes mandate when:-

  • 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.
Can Partnership firm be converted into Limited Liability Partnership?

Yes, it can be converted in accordance with the Limited Liability Partnership Act, 2008.

Can Foreign National/NRI become designated partner in LLP?

Yes they can become designated partners subject to the condition that there must be atleast one Indian Designated Partner. There is no restriction on capital sharing ratio.

What are the post incorporation compliances in case of LLP?

You need to open a Current Account in the name of LLP and deposit the amount of capital in the sharing ratio. 

What to chose between LLP and Private Limited?

The selection between both can be done on the basis of requirements and further you can contact our team for more personalized discussion.