Limited Liability Partnership (LLP)) Registration

Price : ₹6999/-

Professional Fees

Note* Price may vary on if any changes by Govt.

Documents Require

1. Partner's PAN
2. Partner's Aadhaar or Any other Address Prove
3. Partner's DSC (If Any)
4. Partner's Passport Size Photo
5. Business Address Prove

Limited liability Partnership Registration (For Indians)

Limited Liability Partnerships, LLP is a unique and new form of business that combines the advantages of both 'Company' and 'Partnership' in a single business entity. This was introduced in India in 2008 with the approval of the Limited Liability Partnership Act, 2008.

LLP is a superior type of partnership. A normal partnership is often discouraged due to its unlimited liability feature, i.e. your personal assets may be seized in case all the dues are not cleared. To counter this problem, an important feature of limited liability of company was added to the partnership, resulting in Limited Liability Partnership.

LLP is a separate legal entity, which can be formed in India by a minimum of two persons coming together with a motive of earning profit. Unlike a Private Ltd Company, an LLP is easy to manage and it is subjected to minimal post registration compliances.

Benefits of Limited Liability Partnership (LLP)

Limited Liability: The members of an LLP are only liable for a small amount of debt incurred by it. On the other hand, for proprietorships and partnerships, the personal assets of directors and partners are not protected if the business goes bankrupt.

Separate Legal Entity: An LLP is a separate legal entity from the partners in it. It has an uninterrupted existence that follows perpetual succession, i.e., the partners might leave, but the business remains. The terms of dissolution have to be mutually agreed upon for the firm to dissolve.

Flexible Agreement: Transferring the ownership of an LLP is also simple. A person can easily be inducted as a designated partner and the ownership switches to them.

Suitable For Small Business: LLPs having a capital amount less than ₹25 lakhs and turnover below ₹40 lakhs per year do not require any formal audits. This makes registering as an LLP beneficial for small businesses and startups.

Basic requirements for LLP. Registration:

1. At least two partners are required to form an LLP (no upper limit)

2. If a body corporate is a partner, a natural person must be nominated to represent it

3. Each partner must have an agreed contribution towards the shared capital

4. There is no restriction on authorized capital for LLP incorporation

5. At least one designated partner should be an Indian resident

6. Partner Identification Number for all directors is needed

7. DSC (Digital Signature Certificate)