Limited Liability Company Registrations
Limited Liability Partnership (LLP), introduced only in 2008, has quickly become a popular legal structure for businesses. Its main improvement over the General Partnership is that, as the name indicates, it limits the liabilities of its partners to their contributions to the business and also offers each partner protection from the negligence, misdeeds or incompetence of the other partners.
Price starts from ₹ 10999/-
Timeline – 25 Working days
What is a limited liability partnership (LLP)?
LLP is an organization which combines the advantages of both a company and a partnership firm. It gives the partners the freedom of a partnership firm as well as the limited liability feature of a company so that the fault of one partner need not be borne by others. LLPs are governed by Limited Liability Partnership Act,2008.
What are the Features of Limited Liability Partnership?
Advantages of Limited Liability Partnership
Separate Legal Identity
LLPs enjoy the status of separate legal identity hence making the partners and the business different persons.
Partners of LLP enjoy the limited liability feature of a company which enables the partners to free themselves from the faults committed by another partner.
All the LLPs are not required to get their accounts audited unless their turnover / capital exceeds a specified limit.
Free Transferability of shares
Ownership of LLP can be easily transferred to others by making them designated partners.
LLPs enjoy perpetual existence and thus exist irrespective of the status of the partners of the LLP.
Disadvantages of Limited Liability Partnership
Cannot invite funds from public
A private limited company cannot raise funds from public in the form of share capital.
Restriction on transferability of shares
The shares in a private limited company cannot be sold or transferred to anyone else without the agreement of other shareholders.
Maximum 200 Shareholders
A private limited company can have maximum of 200 shareholders which restricts the scope of expansion and growth of the company.
What are the Documents required for Public limited company registration?
PAN Card of the Partners
Address Proof of the Partners
Utility Bill of the proposed Registered Office of the LLP
Bank Statement / Cancelled Cheque of the business
Rental Agreement Copy of the Business place
What Includes in this package?
Verification of Documents
Professional Fee Incorporation
Applying DSC,DIN,ROC & TAN
Following until LLP Registration Certificate is allotted
What is the Process for LLP Registration?
Application for DIN or DPIN
All the partners are required to get DPIN(Designated Partner Identification Number). DIN can be used if a partners possesses DIN
File LLP Agreement
After incorporation of LLP, an initial LLP agreement is to be filed within 30 days of incorporation of LLP.
Acquire/ Register DSC
Digital Signature Certificate should be obtained and should be registered with the LLP Application
LLP Registration Done
Once the LLP is Incorporated, we will send you LLP Certificate
Incorporate a LLP
Form1 to be filled for Name confirmation and form 2 should be filed for Incorporating an LLP after the Name is confirmed