Advantages/Benefits of registration of LLP (Limited Liability Partnership) in Himachal Pradesh

If you are planning to set up a Limited Partnership or LLP in Himachal Pradesh, you will find all the relevant requirements set by the Registrar of Companies (RoC). You will also find the step-by-step process for registering a Limited Liability Partnership (LLP) in Himachal Pradesh along with other necessary information such as fees, documents required, capital requirements, minimum partner requirement, name registration process, etc. Let us have a look at the LLP registration in Himachal Pradesh.

What is a Limited Liability Partnership (LLP)?

Limited Liability Partnership means a business where a minimum of two members are required (which can be up to 5 designated partners (without DIN) and the maximum number of members is not limited. Its liability is limited.

An LLP is an alternative corporate form of business that provides the benefits of a Limited Liability Company and the flexibility of a partnership. An LLP has a perpetual existence regardless of changes in partners. It can make contracts and hold property in its name. An LLP is an individual entity that is fully liable for its assets, however, the liability of partners is limited to their contribution agreed to the LLP.

Advantages of setting up a Limited Liability Partnership (LLP) in Himachal Pradesh

With company structures like Private Limited Companies and Public Limited Companies or Partnership Firm why you should go with limited liability partnership (LLP) registration in Himachal Pradesh is easier to set up with less regulatory compliance and simple day-to-day operations. Various advantages of incorporating a Limited Liability Partnership (LLP) in Himachal Pradesh include:

• Lower set-up costs: Compared to incorporating a Private Limited Company, Limited Liability Partnership (LLP) in Himachal Pradesh is not only easier to set up but also cost-effective. Not only are the costs of incorporation lower, but the costs of compliance are also significantly lower.
• No minimum capital requirements: There is absolutely no minimum capital requirement in an LLP (unlike a limited company where it is 1 lakh). However, the contribution of any partner to the capital of the LLP may also include tangible or intangible, movable or immovable property.
• No limit on the number of partners: While a minimum of 2 partners is required to form a Limited Liability Partnership (LLP) in Himachal Pradesh, there is absolutely no maximum number of partners.

Benefits of Limited Liability Partnership (LLP) Registration in Himachal Pradesh

If you are planning to start a business or incorporate by forming or registering a Limited Liability Company (LLP) in Himachal Pradesh, the registration of such LLP will be done with the Registrar of Companies, Chandigarh Office i.e. RoC – Chandigarh. All limited liability partnerships (LLPs) in Himachal Pradesh must be registered with RoC Chandigarh.

Himachal Pradesh is a state with five perennial rivers flowing through the state with the potential to generate more than 26% of India’s hydropower potential. The estimated hydro potential in Himachal Pradesh is 27,000 MW. Its current electricity supply is exclusively produced from green energy sources. The Baddi – Barotiwala – Nalagarh industrial belt has become a hub of manufacturing activities. The region is well known for being Asia’s largest bulk drug production area.

Himachal is a mountainous state located in the western Himalayas. It is an attractive tourist destination for its scenic beauty and culture. On average, about 20 million tourists visit this state, which is three times its population. The infrastructure of Himachal Pradesh is built accordingly with a proper road network, communication network, public services, airport, other transport facilities, civic amenities, and regular and clean water supplies.

Not only this, according to the latest World Bank report, Himachal Pradesh has been ranked 7th out of 36 states in terms of ease of doing business. Although the entire Himachal Pradesh Limited Liability Partnership (LLP) registration process is online, for any queries or clarifications, one can visit the RoC Chandigarh Regional Office.

Documents required for registration of LLP in Himachal Pradesh

The following are the documents required for the Registration of LLP in Himachal Pradesh:

• PAN card copy of every partner
• Passport-size photos of all partners
• A water/electricity/telephone bill or the latest account statement serves as proof of residence.
• Copy of sale deed/title deed, in case of property ownership.
• NOC from the property owner.
• A copy of the rental agreement.
• NOC from the landlord, the format of which we will provide for you.
• Copy of Passport if NRI/Foreigner partners, duly attested.
• Digital signature certificates.

Process of LLP Registration in Himachal Pradesh

The following is the process for LLP Registration in Himachal Pradesh:

• For LLP registration in Himachal Pradesh, the first step begins with obtaining digital signatures for all the proposed partners.
• In the next stage, an application is filed with the MCA to reserve the name of the LLP.
• We will draft founding documents and send them to partners for signature. The scanned copy of the documents must be uploaded on the Legal Window platform.
• Our company will then send a signed copy of the MCA documents for approval.
• The final step to register an LLP in Himachal Pradesh is when our experts draft the LLP deed to be signed by all the partners.
• The LLP Charter is verified and uploaded by our experts on the MCA portal within 30 days of incorporation.

Forms required for registration of LLP or Limited Liability Partnership in Himachal Pradesh

The following are the Forms that are required for registration of LLP in Himachal Pradesh:

• RUN-LLP (Reserve Unique Name – Limited Liability Partnership) – This form is used to reserve a name for an LLP.
• FILLIP – This form is to incorporate an LLP.
• Form 5 – This form is a notice of change of company name.
• Form 17 – This form is for applying to convert a firm into an LLP.
• Form 18 – This form is for applying to convert a private or unlisted public company into an LLP.

Fees and other charges for registration of LLP in Himachal Pradesh

Final words

All in all, it is not too difficult to get Limited Liability Partnership registration in Himachal Pradesh if you know the process. Legal Window will help you professionally and not only simplify the process but also guide you with clauses and tips to help you incorporate LLP and draft a deed or partnership agreement keeping in mind various aspects relevant in the long run.

Our professionals go with the startup and pave a smooth path for successful funding and growth of LLP in Himachal Pradesh.