What is Limited Liability Partnership (LLP) ?

LLP (Limited Liability Patnership) is an alternative corporate business from that gives the benefits of limited liability of a company and the flexibility of a partnership. Since LLP contains elements of both ‘a corporate structure’ as well as ‘a partnership firm structure ‘LLP is called a hybrid between a company and a partnership.

LLP shall be a body corporate and a legal entity separate from its partners. It will have perpetual succession. Any change in the partners of an LLP shall not affect the existence, rights or liabilities of the LLP

There are numerous benefits to be had from trading through an LLP –

  • Limited liability protects the member’s personal assets from the liabilities of the business. LLP’s are a separate legal entity to the members.
  • Flexibility. The operation of the partnership and distribution of profits is determined by written agreement between the members. This may allow for greater flexibility in the management of the business.
  • The LLP is deemed to be a legal person. It can buy, rent, lease, own property, employ staff, enter into contracts, and be held accountable if necessary.
  • Corporate ownership. LLP’s can appoint two companies as members of the LLP. In an LTD company at least one director must be a real person.
  • Designate and non-designate members. You can operate the LLP with different levels of membership.
  • Protecting the partnership name. By registering the LLP at Companies House you prevent another partnership  or company form registering the same name.

Our Packages Includes

  • Digital Signature for 2 Directors
  • DPIN Numbers for 2 Directors
  • LLP Agreement
  • LLC Deed
  • All Government Fees Included
  • PAN Number
  • TAN Number
  • Bank Account Opening

Douments Required for LLP Registration

  • Documents Required for GST Registration

    Documents Required

    • ID Proof (PAN Card)
    • Address Proof 1(Voter ID/Passport/Driving License)
    • Address Proof 2(Electricity Bill/Telephone Bill/Bank Statement)
    • Aadhar Card
    • 2 Photographs of each partner

LLP Registration Process

  • Step 1

    Prefill and submit requisition form

  • Step 2

    Search LLP name availability

  • Step 3

    Provide us with all the scanned copy of all the requisite Documents online by mail

  • Step 4

    Filling of application with MCA

  • Step 5

    Grant Certificate of incorporation with in 20-25 days

Our Prices

LLP Registration

Basic

LLP Registration

8999 .00

Inclusive of all taxes

Advanced

LLP Registration + GST Registration

10499 .00

Inclusive of all taxes

Premium

LLP Registration + GST Registration + Trademark

16499 .00

Inclusive of all taxes

Frequenlty Asked Questions

A partnership is a number of individuals carrying on business with a view to a profit. A partnership has no separate legal identity and each partner, usually, has unlimited liability. An LLP has a separate legal identity and the members (or partners) generally have limited liability.

An LLP may be formed by two or more legal persons (for example individuals, limited companies, LLPs, corporations etc) for carrying on a lawful business with a view to profit.

A minimum of two partners will be required for formation of an LLP. There will not be any limit to the maximum number of partners.

ointment of at least two “Designated Partners” shall be mandatory for all LLPs. “Designated Partners” shall also be accountable for regulatory and legal compliances, besides their liability as ‘partners, per-se”.

A basic difference between an LLP and a joint stock company lies in that the internal governance structure of a company is regulated by statute (i.e. Companies Act, 1956) whereas for an LLP it would be by a contractual agreement between partners.
The management-ownership divide inherent in a company is not there in a limited liability partnership
LLP will have more flexibility as compared to a company.
LLP will have lesser compliance requirements as compared to a company.

‘LLP’ is required to get their books of accounts audited when the total revenue is more than INR Rs. 40 lacs or total capital of partners exceeds INR Rs. 25 lacs.

The Designated partners must be a natural person & have attained 18 years of age. Foreign nationals, Foreign companies & LLP can incorporate a LLP in India subject to at least one designated partner is resident in India.

 

LLP can be started with any amount of capital say Rs. 5,000 per partner. Capital contribution by partners can be tangible, intangible property or any other benefit.