LIMITED LIABILITY PARTNERSHIP REGISTRATION

Ideal for firms with multiple partners and looking for less Compliance burden

LLP Incorporation

Professional Fees Flat Rs 4,999/-


    STEPS TO INCORPORATE A LIMITED LIMITED PARTNERSHIP

    Step 1
    Collection of Documents
    Step 2
    Issuance of Digital Signature Certificate (DSC)
    Click Here
    Step 3
    Application for Name Approval
    Step 4
    Preparation and Submission of Incorporation Documents and LLP Agreement
    Step 5
    Approval of Incorporation of Company
    Previous
    Next



    LIST OF DOCUMENTS REQUIRED FOR INCORPORATION

    Identity Proofs

    PAN, Aadhar/Passport, Photograph

    Address Proof for LLP

    Utility Bill of the Place of Business (Not older than 2 months)
    Rent Agreement/NOC for allowing usage of the place

    Address Proofs for Partners

    Bank Statement/Utility Bill of Residential Address


    Advantages of Limited Liability Partnership

    A separate and distinct legal structure

    Such entities provide distinction between ownership and function. It creates a separate legal structure both in terms of taxation and liability.

    Less Compliance Burden

    LLPs have less compliance burden compare to other entities. LLPs don't have to get the company audited if there turnover is less than 40 lacs for the financial year. Moreover, they just have to file two Annual Returns ( Form 8 and Form 11) every year.

    Limited Liability

    The liability of the partners is limited to their subscribed capital in the LLPs.


    FREQUENTLY ASKED QUESTIONS

    The Limited Liability Partnership is a new business structure that has been established by an Act of the Parliament. In a Limited Liability Partnership, there is flexibility in terms of ownership and control as well as limited liability and a preferential tax treatment for profits and transfer of assets. The liability protection that this form of entity provides limits the liability of each partner to the extent of his/her investment in the firm. It has provisions of legally protecting other partners from the illegal actions of one partner.

    A minimum of 2 Partners are required to incorporate a LLP. One of them has to be Indian Resident. 

    LLP Agreement is a document consisting of policies that will be guiding the LLP over its course of business. It also mentions the contributions by the Partners along with their duties.

    Yes. LLP can be converted into Private Limited Company by filing of Form URC-1.

    LLP has to mandatory file Form 11 (30th May) and Form 8 (31st October) every year. If not filed, penalty of Rs 100 per day is charged by ROC for each day of delay. 

    The LLP has to also get itself audited by Practicing CA if its turnover exceeds Rs 40 lacs annually