A Limited Liability Partnership shares many similarities to that of a private limited company and enjoys all benefits of it including having a separate identity from the owner. It is governed by the Registrar of Companies and comes under the Companies Act 2013 & Limited Liability Partnership Act 2008. The owners can raise funds by capital contribution & other methods of discrete rights. Take your first step with us. Get started just in a few clicks!. Hassel Free Online Limited Liability Partnership Registration.
A Limited Liability Partnership, has a separate legal identity and is highly flexible when it comes to the provisions of the partners. Replacement of business partners does not have any effect on the rights and shares they owned which can be continued. There are various benefits that the partners enjoy which included no minimum capital required, tax benefits & simple registration process. It is important to keep in mind that one member should an Indian citizen if you want to start with LLP.
Who should start their corporate journey by establishing a Limited Liability Partnership?
A Limited Liability Partnership, has a separate legal identity and is highly flexible when it comes to the provisions of the partners. Replacement of business partners does not have any effect on the rights and shares they owned which can be continued. There are various benefits that the partners enjoy which included no minimum capital required, tax benefits & simple registration process. It is important to keep in mind that one member should an Indian citizen if you want to start with LLP.
What are the advantages of starting a Limited Liability Partnership?
1. Separate Legal Entity
In the eyes of law & third parties, a Limited Liability Partnership is separate from its owner & enjoys an independent existence in the market. The stakeholders are just representatives of the company, they are not the company itself which gives freedom to the owners.
2. Limited Liability
Limited Liability Partnership gives the privilege to the partners of not being unlimitedly liable for the company's transactions. The liability of owners is limited to their shares which gives them a sense of security. It also provides them with a limit on their power & responsibility.
3. Efficient
Registration of Limited Liability Partnership is very efficient in comparison to other types of companies. It incurs low cost & there are not many legal compliances in it.
4. Perpetual succession
The life & existence of the Limited Liability Partnership continues forever. It is not dependent on the condition of the directors. It does not affect the director's death, retirement, or bankruptcy.
• PAN of the company
• Other Identity Proof like Aadhar Card/ Passport / Driving License / Voter Identity Card
• List of directors (Minimum 2 members who are not minors or more)
• At least one Director Should be Indian
• Board Resolution
• Identity proof of directors
• Address proof of directors
Additional Documents
• No-Objection letter by the owner of the address company is using
• Supporting documents to be signed by the owner to verify the address like Electricity Bill / Telephone Bill / Gas Bill / Water Bill
1. Select Package
Your journey starts with the package selection. Our team of professionals is here to assist you & solve your doubts accordingly.
2. Digital Signature
We are here to assist you with your MoA application. We will obtain the digital signatures first & then continue with the link generation for eKYC verification.
3. Name Approval
We will assist you with the most exciting step which is naming your dream company & getting it approved by the submission of the RUN form.
4. Final Document Submission
The final stage is the submission of the company’s documents with the MCA. It is our duty to LLP Partnership deed & uploads it to the MCA Portal.
Legal25by7 is here for you on every step of your Limited Liability Partnership Registration. If you have any doubt about whether to go for any other type of company, we are here to resolve this confusion for you. We will enlighten you about what are the different ways you can set up your dream organizations and what benefits you get from each one of them. Your dream is to start your journey and our aim is to see you do it smoothly.
For convenient registration of a Limited Liability Partnership, we have a team of highly skilled professionals and a large network of people who can assist you with every service that you will need. We are ready to play the role of facilitator and see you climb the ladder of success; all you need to do is to take the first step and connect with us.
You require a Designated Partner Identification Number (DPIN/DIN) for all the partners, DSIC & a copy of the e-form, registered under the company's name.
A minimum of two & maximum unlimited partners can together form a Limited Liability Partnership.
Yes, a body corporate can also become part of a Limited Liability Partnership as one of the partners.
The person must be of a sound mind & should not have any criminal trial going on. The person should also not be insolvent or in the process of filing for insolvency.
You can become a designated partner if you are a resident of India.
Limited Liability Partnership has to be registered with the Registrar of Companies (ROC). A Limited Liability Partnership type company must have its registered office. The most significant thing to keep in mind is that the incorporation document must be in the right format & should be sent to the Registrar on time whenever it is called out. The registration form should be filled out thoroughly.
Yes, you can do this but you have to check first whether the provided address is under the. Deliverable conditions.
Yes, Limited Liability Partnership must maintain a statement of accounts & solvency form manually & also send it to the registrar.
Yes, it is mandatory for Limited Liability Partnerships. Things might get simpler in the future with the effect of efforts put in by the Central Government LLPs.
Startups that don't need venture capitalists for funding usually go for a Limited Liability Partnership.
Yes, NRIs or Foreign Nationals can become a designated partner in a Limited Liability Partnership but to make it happen you need one more designated partner who is an Indian resident.
Yes, Foreign Direct Investment (FDI) is permitted in LLP
Any kind of contribution which is physical, intangible, monetary, or in the form of property & liquid assets can be counted as a contribution.
