Description
Prop. Documents:
Pan
Aaadhar
Voter/Driving License/Passport
Bank Statement/Passbook/Telephone Bill/Any Utility Bill
Photo
Other Documents:
Electricity Bill / Property Tax
Rental Agreement
NOC
Includes: DSC, DIN/DPIN, Name Reservation, Incorporation, Stamp Duty, Partnership Agreement Drafting, PAN, TAN, GST Registration, EPFO Registration, ESIC, Bank Account Opening, Gov. Fee, Processing Fee.
Duration: 14 Working Days
Working Area: Pan India
Limited Liability Partnership
Limited Liability Partnership (LLP) Has Been Released in India by Means of This Limited Liability Partnership Act, 2008. The simple assumption behind the introduction of Limited Liability Partnership (LLP) is to give a kind of business entity that’s easy to keep while providing limited accountability to the owners. Since, its debut in 2010, LLPs are well received with more than 1 lakh registrations up to now before September, 2014.
The most important benefit of a Limited Liability Partnership within a conventional partnership company is that in a LLP, 1 Partner isn’t responsible or accountable for a different Partner’s misconduct or neglect. An LLP also provides limited liability protection for those owners in the debts of the LLP. Therefore, all Partners in an LLP like a kind of limited liability coverage for every person’s protection within the venture like that of the shareholders of a private limited company. But, unlike private limited company, the Partners of an LLP possess the right to handle the company directly. -kanoons.
LLP is among the simplest type of business to incorporate and handle in India. With a simple incorporation procedure and easy compliance obligations, LLP is favored by Pros, Micro and small companies which are household owned or closely-held. Since, LLPs Aren’t capable of issuing equity shares, LLP Ought to be used for almost any company that’s plans for increasing equity capital throughout its lifecycle. -kanoons
FAQ
Why choose LLP Registration?
It’s another legal entity, unlike partnership firms.
The accountability and responsibility of each Partner are confined to the donation made by the partner.
An LLP has endless series, that’s extended survival until it’s brought in to end by mutual arrangement between the partners.
The price of forming an LLP is less.
Audit not mandatory as LLPs are moderate and smaller companies who would like minimal regulatory compliance connected to formalities.
Less Regulations and Agreement at the Creation of LLP.
No provisions for minimal capital participation.
The possession of an LLP is readily altered to some other individual. All you need is to recruit them as a Designated Partner of the LLP.
What is the eligibility of designated partners/partners in an LLP?
Any person, or maybe a business or an LLP, can eventually become a partner. But, only a person may turn into a “designated partner” within an LLP.
How many people are required to incorporate a LLP?
To include a Limited Liability Partnership, a minimum of 2 individuals are required. A Limited Liability Partnership should have a minimum of 2 Partners and may have a max of any variety of Partners.
I am an NRI. Can I start an LLP business in India?
Yes non-resident Indians and overseas nationals that are eager to enter in an LLP venture can do this, provided they submit the required files after obtaining it notarized from the concerned government. Though, at least among the designated partners in an LLP must be an Indian national.
What is the capital required to start a Limited Liability Partnership?
It’s possible to begin a Limited Liability Partnership with almost any quantity of capital. There’s not any need to demonstrate evidence of funds invested during the incorporation procedure. Partner’s contribution could include both physical or abstract properties and some other advantage to the LLP.
What are the requirements to be a Partner in a LLP?
The Designated Partners should be over 18 years old and has to be a natural man. There are no limits concerning residency or citizenship. Hence, the LLP Act 2008 enables Foreign Nationals including Australian Companies & LLPs to incorporate a LLP at India supplied at least one designated partner is resident of India.
What are the rules of starting an LLP?
Any group of individuals who have or need to spend money in a company can begin an LLP. A man or a investor becomes a partner , according to the LLP agreement, as provided in the Act of 2008. Additionally, the investors/partners are owners of this company began under the LLP.
What are the documents required to start a proprietorship?
Pan card of proprietor along with address and identity evidence is enough to begin a proprietorship and get other registrations, as required or applicable.
Can a LLP be incorporated for undertaking "Not-For-Profit" activities?
No, among the vital prerequisites for establishing LLP is’carrying on a lawful business with a view to profit’. Consequently, LLP can’t be incorporated for undertaking “Not-For-Profit” actions.
Do I have to be present in person to incorporate a LLP?
No, you won’t need to be present in our workplace or look at any given workplace for the incorporation of a Limited Liability Partnership. Each of the files may be scanned and delivered via email to our office. Some files will also need to be couriered to our office.
What do I need to quickly incorporate my LLP?
To include a LLP fast, be sure that the suggested title of the Limited Liability Partnership is extremely unique. Names which are very similar to an present private limited company/limited liability partnership/trademark can be rejected and extra time will be necessary for resubmission of titles.
What is an LLP agreement?
An LLP arrangement is one which is created between the partners and the LLP concerning the association between the respective partners in the LLP. An LLP agreement usually contains management policies, addition of new partners, policy making plans, and so on.
What is the minimum number of partners required to start LLP?
As stated by the LLP Act, a minimum of 2 designated partners are needed to begin an LLP. The designated partners are responsible for fulfilling all of the vital requirements involved with launching and running an LLP.
What kind of start-ups commonly register LLPs?
Normally, just start-ups which won’t be searching for venture capital financing enroll LLPs. That is because venture capitalists only invest in public and private limited companies.
Is it cheaper to run an LLP than a private limited company?
Yes, it’s significantly more economical to conduct an LLP compared to a private limited company, especially in your early startup times. This is due to the fact that compliances, like an audit, apply to LLPs just after their turnover is sizeable. Many LLPs spend half as far as a private limited company in their very first year on registrations and compliance function.
Can an existing partnership firm or company be converted to LLP?
Yes, a present partnership firm or a business that’s unlisted can be transformed into LLP. There are a lot of benefits of converting a venture firm to an LLP, however, the same does not apply for the conversion of a Business into an LLP.
How long is the incorporation of the LLP valid for?
After a Limited Liability Partnership is incorporated, it’ll be busy and in-existence so long as the yearly compliances are satisfied with frequently. In the event, annual compliances aren’t complied with, the LLP will develop into a Dormant and possibly struck from the register after a time period.
