LLP Registration


Ideal business structure for Small and Medium sized Enterprises going for Partnership

Ideal business structure for Small and Medium sized Enterprises going for Partnership

Starting At

Rs. 7,999 only(All Inclusive)

SAVE 50% COST!!!

(Takes 15-30 days)

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KNOW ALL ABOUT LLP REGISTRATION

LLP REGISTRATION?


LLP refers to Limited liability partnership and is governed by Limited Liability Partnership Act 2008. Limited Liability partnership is a business entity which provides an advantage of limited liability to its owners and at the same time requires minimal maintenance. The directors of a private limited company have limited liability to creditors. In the case of default, banks / creditors can only sell company’s assets and not personal assets of directors.

LLP Registration can be done through financeprofessional in Delhi NCR, Mumbai, Bengaluru, Chennai and all other Indian cities.

Choose LLP because

  • Dual advantages- Company and a Partnership
  • No partner will be responsible for other partner’s misconduct
  • Cheaper to incorporate than a private limited company
  • Limits the liabilities of its partners

WHAT IS INCLUDED IN OUR PACKAGE?


DPIN for 2 Partners

Digital Signature For 2 Partners

Name search & approval

LLP Agreement

ROC registration Fees

LLP Pan Card

PROCEDURE FOR LLP REGISTRATION?


DOCUMENTS REQUIRED FOR LLP REGISTRATION?


Copy of PAN Card of partners

Passport size photograph of partners

Copy of Aadhaar Card/ Voter identity card

Copy of Rent agreement (If rented property)

Electricity/ Water bill (Business Place)

Copy of Property papers (If owned property)

Landlord NOC (Format will be provided)

MINIMUM REQUIREMENTS FOR LLP REGISTRATION


Minimum 2 Partners

No Capital Requirement

At least one Designated Partner as Indian Resident

DPIN for all Partners

WHAT IS LLP OR LIMITED LIABILITY PARTNERSHIP


LLP is a separate legal entity that gives the benefit of limited liability of company plus the flexibility of a partnership, wherein no partner is held liable on account of other’s partner misconduct. An LLP agreement is drafted to govern their rights and duties. Limited Liability Partnership has been introduced in India by way of Limited Liability Partnership Act, 2008. Limited Liability Partnership is basically introduced to provide an opportunity to entrepreneurs where they can form of business organisation which is simple to maintain while at the same time providing limited liability to the owners.

ADVANTAGES OF LLP REGISTRATION


Separate Legal Entity

The partners in an LLP are distinct from the entity which is established under LLP Act and can sue each other for any kind of misconduct.

Uninterrupted Existence

An LLP has ‘perpetual succession’, that is continued existence until it is brought on the terms of the dissolution by mutual agreement within the partners. Partners may come and go, but an LLP goes on.

Audit not required

Entrepreneurs earning a turnover of fewer than 40 Lakhs and a capital contribution of less than 25 Lakh need not get their accounts audited .Therefore, LLP is a perfect choice for those who wants to start their own venture but want to have the minimum company compliances.

Easy Transferability

The ownership of an LLP can be easily transferred to another person. All you need is to induct them as a Designated Partner of the LLP. LLP is a separate legal entity separate from its Managing Partners, so by changing the Managing Partners, the ownership of the LLP can be changed.

Owning Property

An LLP being a juristic person, can acquire, own and enjoy the property in its own name. And this is entirely distinct from its partners. During any kind of dispute between partners, no partner can claim upon the property of the LLP as long as the LLP.

Limited Liability

Unlike proprietorships and partnerships, in an LLP the liability of the members in respect of the LLP’s debts is limited. The personal assets of the directors are safe if the company goes bankrupt. So it’s entirely a win –win situation for you if you plan to step to head forward with a suffix LLP.

STEPS INVOLVED IN LLP REGISTRATION


1. Application of DSC & DPIN:

Our very first step in this direction would be getting Digital Signature Certificate (DSC) and Designated Partner Identification Number (DPIN) for the proposed Partners of the LLP. Within a time frame of 5 to 7 working days DPIN and DSC can be obtained from the proposed Partners. If the partners already have DSC and DPIN, then this step can be skipped.

2. Name approval:

A minimum of one and a maximum of six proposed names are required to be given to the MCA. Subject to availability, naming guidelines and MCA processing time, we will get back to you with the Name approval within 5 to 7 working days. Names provided should ideally be unique and suggestive of company business.

3. MOA & AOA submission:

Once name is approved, one needs to draft Memorandum of association and Articles of Associate. Both MOA and AOA are filed with the MCA with the subscription statement.

4. Get incorporation certificate:

You can submit the required documents along with incorporation application. MCA will usually approve the application for incorporation in 5 to 7 days, subject to their processing time. Incorporation certification is a proof that company has been creation. It also includes your CIN number.

5. Apply for PAN, TAN and Bank account:

Then you need to apply for PANand TAN. PAN and TAN are received in 7 working days. Post this, you can submit the Incorporation certificate, MOA, AOA and PAN with the bank to open your bank account.
Factors to consider in LLP name selection (Rephrase this – it is copy of private limited
The name of your company is very important. Your company’s name is the first impression to your buyers, suppliers and stakeholders. It should, therefore, be relevant, suggestive and attractive. There are various factors that you should keep in mind while naming for your company.

6. Short & Simple

The name should be concise and not be too long so that people can recall it easily.

7. Meaningful

The name of your company should be related to your business. It should fit the company’s branding . For example, Infosys refers to information systems or IT technologies.

8. Unique

Name of your company should not be same or identical to an existing company or trademark. You can go to search.finance to check if your company name is identical to others. You should ideally avoid plural version e.g, “Flipkart’s” or changing just letter Case, spacing or punctuation marks in an existing company name

9. Suffix

The name of your company should end with the suffix “Private Ltd” in a case of a Private limited company and “LLP” is a case of a limited liability partnership.

10. Should not be illegal / offensive

The name of your company should not be against law. It should not be abusive or against the customs and beliefs of any religion.

Our Clients


FREQUENTLY ASKED QUESTIONS

1. What is the minimum number of Partners required to start a Limited Liability Partnership?

At least two partners are required for LLP registration. The maximum partners can be 200. If you are the sole owner, you can register as a One Person Company.

2. Who can become a partner in LLP?

Any individual/organisation can become the partner in LLP including foreigners/NRI’s. However, the individual must 18+ above in terms of age and should have a valid PAN card.

3. Do I have to be available in person to incorporate an LLP?

Our procedure is 100% online which means there is no compulsion for you to be present at our office physically. A scanned copy of documents can be sent to us via mail, and we will handle the rest. You will get the company incorporation certificate from MCA via courier at your business address.

4. Once I pay for the incorporation, is there any other payment before I get the Incorporation Certificate?

We do not have any hidden charges. Our system is quite transparent. After making your payment, we will send you an invoice that is all-inclusive, with no hidden charges. Our team provides you support till you get your LLP bank account.

5. How much money do I need to invest upfront in starting the business?

You need to have a bank account with a minimum balance, which could be as little as Rs. 5000. You need not invest any more capital in starting the business. You needn’t even deposit this amount to the bank. You can also show that the capital has been utilised as the pre-incorporation expenses of LLP e.g, LLP registration expenses. You can also show this capital has been infused in form of assets such as computers etc.

6. Can NRIs/Foreign Nationals be a Designated Partner in LLP?

Yes, but only after he has been assigned with DIN/DPIN. However, at least one designated partner in LLP must be a Resident of India. In fact, the foreign director can also be a majority shareholder in the company

7. Can I register the LLP at my home address?

Yes, you can register your LLP at your residential address. It is perfectly legal to start the company at your home or in your garage. MCA team typically doesn’t visit your office. You just have to provide your home address proof such as rent agreement or electricity bill.

8. Can a Salaried working person also become a partner in an LLP?

Yes, you as a salaried person can become a partner in an LLP. You need to check your employment agreement if that allows for such provisions. In most, cases employers are comfortable with the fact that their employee is a director in another company.

9. Can I convert my Limited Liability Partnership (LLP) in a Private Limited company?

No, you can’t convert your LLP into a Private Limited Company as it is not MCA. Both the LLP Act, 2008 and the Companies Act, 2013 don’t have any provisions on conversion of LLP in a private limited company. However, if you want to expand your business you can register a new Private Limited Company with the same name as that of the LLP. The LLP company just needs to issue a no objection certificate.

10. In which cities does financeprofessional provide LLP formation services?

financeprofessional provides LLP incorporation services across India in all cities. We have done LLP registration in Mumbai, Delhi, Gurgaon, Noida, Bangalore, Chennai, Hyderabad, Ahmedabad, Kolkata, Surat, Pune, Jaipur, Lucknow, Kanpur, Nagpur and other Indian cities