Limited Liability Partnership

Limited Liability Partnership

₹ 4,490 6,990

✓   Limited Liability Partnership

✓   Separate Legal Entity

✓   Uninterrupted Existence

Limited Liability Partnership (LLP) Registration

Start your business quickly & easily with Limited Liability of partners. Services include:

   Two Digital Signature Certificates (DSCs)
       We will provide DSC of 2 Partners of the company.

   Designated Partner Identification Numbers (DINs)
       Registration of Designated Partners at MCA portal.

  Limited Liability Partnership Agreement (LLP Agreement)
       We will draft the LLP Agreement, which contains the complete set of rules for the LLP.

   PAN & TAN Registration
       File the application of PAN & TAN with NSDL.

*Prices are inclusive of GST and Stamp duty for LLP Agreement will be borne by the Applicant.

Note down the Required Documents

For Partners

✍ PAN Card or Passport (in case of foreign nationals)
✍ Aadhaar Card 
✍ Voter’s ID/Driving License/Passport
✍ Latest Bank Statement/Telephone or Mobile Bill/Electricity Bill or Gas Bill
✍ Passport Size Photographs of Partners
✍ Specimen Signature of Partners

For Firm

✍ 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

*Note all the documents should not be older than two months & hand written documents are not acceptable.

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Know about Limited Liability Partnership

Limited Liability Partnership (LLP) was introduced in India by way of the Limited Liability Partnership Act, 2008. The basic premise behind the introduction of LLP is to provide a form of business entity that is simple to maintain while providing limited liability to the owners. LLP is one of the easiest form of business to incorporate and manage in India. With an easy incorporation process and simple compliance formalities, LLP is preferred by Professionals, Micro and Small businesses.

Since LLPs are not capable of issuing equity shares, LLP should be used for any business that has plans for raising equity funds during its life-cycle. The biggest advantage is Limited Liability, which means the partners legally responsible only to a limited amount, for debts of a LLP. Unlike proprietorship and partnership, in a LLP the liability of the members in respect of the LLP’s debts is limited. The personal assets of the designated partner are safe if the firm goes bankrupt.

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FAQs on Limited Liability Partnership

1. What is the minimum number of Partners required to start a Limited Liability Partnership?

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.

2. What is the eligibility of designated partners/partners in an LLP?

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.

3. Do I have to be available in person to incorporate 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.

4. Can NRIs/Foreign Nationals be a Designated Partner in LLP?

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. In fact, the foreign director can also be a majority shareholder in the company

5. Can a Salaried working person also become a partner in an LLP?

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.

6. What is an LLP agreement?

An LLP agreement is one that is made between the partners and the LLP regarding the relationship between the individual partners in the LLP. An LLP agreement usually consists of management policies, inclusion of new partners, policy making strategies, and so on.

7. What are the rules of starting an LLP?

Any group of persons who have or want to invest money in a business can start an LLP. A person or an investor becomes a partner, according to the LLP agreement, as provided in the Act of 2008. Also, the investors/partners are owners of the business started under the LLP.

8. What kind of start-ups commonly register LLPs?

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.

9. Whether LLPs would be required to maintain books of accounts & file any annual Returns?

An LLP shall be 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.