Limited Liability PARTNERSHIP Registration

LLP or LIMITED LIABILITY PARTNERSHIP REGISTRATION is an alternative corporate business form that gives the benefits of limited liability as present in a company and the flexibility of a partnership business; In other words, LIMITED LIABILITY PARTNERSHIP REGISTRATION offers advantages of both worlds by bringing simplicity in management akin to partnership firms and scope of expansion like that of a company.

The compliance requirements are relatively less, and only a few returns have to be filed. For small LLP the audit is not required. An LLP is a new form of business introduced in the year 2009. For Registration of LLP: LIMITED LIABILITY PARTNERSHIP REGISTRATION , Minimum two people are needed, there is no limit any maximum number of its partners. The biggest advantage of LLP form of business over a Pvt Ltd Company is in the fact that there is less compliance requirement in comparison to a Company.

What you get after LLP Registration

Unique Designated Partnership Identification Number (DPIN)
Digital Signature Certificates (DSC)
Name Approval
LLP Registration Certificate
To Have the Rubber Stamp of the LLP
To Apply for PAN Card of the LLP.
To Provide you the Proper Incorporation File
GST Registration Certificate

Documents Required For LLP Registration

Copy of PAN Card of partners
Passport size photograph of partners
Copy of Aadhaar Card/ Voter identity card
Copy of Rent agreement (If rented property)
Electricity/ Water bill (Business Place)
Copy of Property papers (If owned property).
Landlord NOC (Format will be provided)

Advantages of LLP

Separate Legal Entity

A LLP is a legal entity and a juristic person established under the Act. The partners are distinct from the entity and both can sue each other and get sued in the process

Uninterrupted Existence

A LLP has ‘perpetual succession’, that is continued existence until it is brought on the terms of the dissolution by mutual agreement within the partners. Partners may come and go, but an LLP goes on.

Audit not Required

Entrepreneurs earning a turnover of less than 40 Lakhs and capital contribution of less than 25 Lakh need not get their accounts audited .Therefore, LLPs are ideal for startups and small businesses that are just starting their operations and want to have minimal regulatory compliance related formalities.

Owning Property

An LLP being a juristic person, can acquire, own and enjoy property in its own name. And this is entirely distinct from its partners. No Partner can make any claim upon the property of the LLP so long as the LLP is a going concern.

Limited Liability

The biggest advantage is Limited Liability, which means the status of being legally responsible only to a limited amount for debts of a LLP. Unlike proprietorships and partnerships, in a LLP the liability of the members in respect of the LLP’s debts is limited. The personal assets of the directors are safe if the company goes bankrupt.So it’s entirely a win –win situation for you if you plan

Easy Transferability

The ownership of a LLP can be easily transferred to another person. All you need is to induct them as a Designated Partner of the LLP. LLP is a separate legal entity separate from its Managing Partners, so by changing the Managing Partners, the ownership of the LLP

LIMITED LIABILITY PARTNERSHIP REGISTRATION : LLP Essentials

Digital Signature & DIN

Digital Signature Certificate(DSC) and Designated Partner Identification Number(DPIN) is obtained for the proposed Partners of the LLP. DPIN and DSC can be obtained for the proposed Partners within 5 to 7 days.

Name Approval

A minimum of one and a maximum of six names choices must be submitted to the MCA. Subject to availability, naming guidelines and MCA processing time, name approval can be obtained in 5 to 7 working days.

LLP Registration

Incorporation documents can be submitted to the MCA along with an application for incorporation. MCA will usually approve the application for incorporation of LLP in 10 to 12 days, subject to their processing time.

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Delhi - 110087

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Haryana - 124001

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Haryana - 134109

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