Register Limited Liability Partnership
Two or more partners comes together to form a partnership firm having limited liability. Theses partners known as Designated Partners
Online Limited Liability Partnership (LLP) Registration In India
A LLP can be registered online at an offer price of ₹4,490/- Only (Inclusive of taxes)
Limited Liability Partnership (LLP) was introduced in India by way of the Limited Liability Partnership Act, 2008. The basic reason to bring LLP into existence is to create a business entity that is easy to maintain while keeping the liability of owners limited. The major difference between the traditional partnership firm and a LLP is the Liability of Partners, where partners have limited liability in LLP and in Partnership firm liability of partners is unlimited. The personal assets of the designated partner are safe if the firm goes bankrupt. LLP is one of the simplest type of business to start and manage.
Note Down The Documents Required For LLP Registration
- PAN Card or Passport (in case of foreign nationals)
- Aadhaar Card of Partners
- Voter’s ID/Driving License/Passport
- Latest Bank Statement/Telephone or Mobile Bill/Electricity Bill or Gas Bill
- Passport Size Photographs of promoters/Directors
- Notarised Rental Agreement in case of rented property or Sale/Property Deed in case of own property
- No-objection certificate from Land Owner in case of rented property
- Rent Receipt in case of rented property
- Electricity Bill/Telephone Bill/Gas Bill having same address as appearing on the Rent Deed or the Registered Deed
Features of Limited Liability Partnership
It is easy to raise funding for Private Limited Company.
Business Continuity is the major ingredient of a Private Limited Company.
Liability of Members
Liability of Members is limited unlike Partnership Firm.
Acceptance of Public Deposits
Companies Act prohibits to accept loans and deposits from the general public.
Separate Legal Entity
A company is separate from its shareholders and Directors. It is an independent entity.
FAQs for LLP Registration
At least two partners are required for LLP registration. The maximum partners can be 200. If you are the sole owner, you can register as a One Person Company.
Any individual, or even a company or an LLP, can become a partner. However, only an individual can become a ‘designated partner’ in an LLP.
TaxRodo provides the virtual services, which means there is no compulsion for you to be present at our office physically. A scanned copy of documents can be uploaded or sent via mail, and we will handle the rest.
Yes, but only after he has been assigned with DIN/DPIN. However, at least one designated partner in LLP must be a Resident of India.
Yes, you as a salaried person can become a partner in an LLP. You need to check your employment agreement if that allows for such provisions. In most, cases employers are comfortable with the fact that their employee is a director in another company.
An LLP agreement is one that is made between the partners and the LLP regarding the relationship between the partners in the LLP. An LLP agreement usually consists of management policies, inclusion of new partners, policy making strategies, and so on.
Any group of persons who have or want to invest money in a business can start a LLP. A person or an investor becomes a partner, according to the LLP agreement, as provided in the Limited Liability Partnership Act, 2008. Also, the investors/partners are owners of the business started under the LLP.
Typically, only start-ups that will not be looking for venture capital funding register LLPs. This is because venture capitalists only invest in private and public limited companies.
A LLP is under an obligation to maintain annual accounts reflecting the true and fair view of its state of affairs & file annual return with ROC. A “Statement of Accounts and Solvency” in prescribed form shall be filed by every LLP with the Registrar every year.