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
Minimum two partners are required and the above pricing is for 2 partners only, extra partner will cost ₹2500/partner.
Two names must be provided for name availability in advance and the above price is only for single run, if name is rejected in first run then ₹2000 extra will be charge for each run.
We do our initial research for name availability but final decision will be taken by the Registrar, hence we take no responsibility of name reservation as its solely depends on the registrar.
Duration time starts after the submission of all signed documents excluding holidays and delays are also depends on the response from the MCA.
This offer can’t be clubbed with any other offer.
Kanoons reserves the right to change this offer anytime without any prior notice.
All prices are excluding taxes.
All other general terms and conditions applied.
Limited Liability Partnership – LLP
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.
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.
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Kanoons is the industry leader in LLP registration services in India. Along with LLP enrollment, kanoons also supplies many different business registration services such as private limited company registration, one person company enrollment, Nidhi Company Registration, Section 8 Company Registration, Producer Company Registration and Indian Subsidiary registration. The normal time required to finish an LLP enrollment is approximately 15 – 20 working days, subjected to authorities processing period and customer document entry. Receive a totally free consultation on LLP enrollment and company setup in India by scheduling a consultation with a kanoons Advisor.
Limited Liability partnership delivers the advantage of limited liability for its owners and in precisely the exact same time requires minimal upkeep. The proprietors of a private limited company have limited responsibility to lenders. In the event of default, banks/creditors can simply sell the organization’s assets rather than the personal assets of directors. -kanoons.
An LLP additionally gives limited liability protection for those owners in the debts of the LLP. Thus, all partners in an LLP like a type of limited liability protection for every single person’s protection within the partnership, associated with the shareholders of a private limited company registration. -kanoons
Advantages of LLP
The benefits of a Limited Liability Partnership (LLP) are elaborated in detail beneath:
Independent Legal Entity: An LLP operates with its own legal identity, similar to big companies. This makes it trustworthy and allows it to handle legal matters independently.
Limited Risk for Partners: LLP partners are only liable for what they invest. They’re not personally responsible for the LLP’s debts or losses, which protects their reputation.
Cost and Time Savings: Starting an LLP is cheaper and simpler than forming large corporations. There’s less paperwork and fewer regulations to deal with each year.
Flexible Investment: You don’t need a lot of money to start an LLP. Partners can invest varying amounts, making it accessible for different budgets.
Disadvantages of LLP
Certainly, Limited Liability Partnerships (LLPs) present numerous benefits regardless of a few inherent disadvantages:
Penalties for Non-Compliance: LLPs face hefty fines if they fail to adhere to regulations, even though there are fewer rules. They must inform authorities annually, or face penalties.
Ending an LLP:LLPs require at least two partners, and must cease if they have fewer partners for six months. Financial difficulties may also force closure if debts cannot be paid.
Limited Investment Opportunities: Unlike large corporations, LLPs don’t allow investors to become owners by investing money. This makes it challenging to secure significant funding from investors.
Effortless LLP Registration Made Possible with Kanoons
Kanoons is your trusted partner throughout the complete LLP registration journey. Here’s how we are able to help you:
Experienced Professionals: Our team of experts understands the ins and outs of LLP registration. We’ll provide you with accurate information, ensuring you understand each step thoroughly.
Name Availability: We’ll help you check in case your preferred LLP call is available and save it in keeping with the policies.
LLP Agreement:LLP Agreement: Our experts will assist in drafting a legally sound LLP Agreement. We’ll also handle the filing of necessary documents with the authorities, ensuring accuracy and compliance.
PAN and TAN Application: We’ll simplify the software technique for your LLP’s Permanent Account Number (PAN) and Tax Deduction and TAX Account Number (TAN).
Customer Support: We’re right here for you. Our customer support will deal with your questions, making sure your journey is seamless.
Timely Updates: You’ll acquire timely updates for your LLP registration development, keeping you informed every step of the way.
With Kanoons as your associate, you could expectantly navigate LLP registration, guided by means of skilled specialists who will ensure a hassle-loose experience from begin to finish.
Compliances for LLP
Limited Liability Partnerships are separate legal entities; consequently, it is the obligation of the elected companions for maintaining a proper e book of accounts and submitting an annual go back with the Ministry of Corporate Affairs (MCA) yearly.
Limited Liability Partnerships aren’t required to audit their books of account besides in which their annual turnover is extra than Rs.Forty lakhs or if the contribution is more than Rs.25 lakh. Hence, an LLP is not required to get their books of account audited if it fulfils the above-noted condition, making the procedure of annual submitting easier.
Limited Liability Partnerships are required to report their Statement of Account & Solvency inside a length of thirty (30) days from the end of six (6) months of the economic 12 months and Annual Return inside sixty (60) days from the end of the monetary yr.
Dissimilar to Companies, Limited Liability Partnerships are mandatorily required to hold the monetary yr, from 1st April to thirty first March. Hence, the Statement of Account & Solvency is to be crammed on or earlier than October 30th of every financial 12 months and the once a year go back for LLPs is due on May 30th every yr even though the LLP has no longer completed any business in that unique financial 12 months. Some of the yearly filings are mandatory whether the LLP has began any business or no longer.
*Account Opening: We just assist you in opening Current Account in one of our partner’s bank.
No Late Fee
It has been observed that numerous small businesses incur significant penalties every year for late filing of various statutory returns to the Government. These penalties are non-tax-deductible and can adversely affect the profitability of these enterprises. At Kanoons, our primary objective is to offer cost-effective services to our clients and assist them in avoiding any late fees. In line with our commitment, we have developed cutting-edge technology that enables businesses to stay ahead of compliance requirements and prevent any penalties. Explore our range of compliance services below to ensure smooth and hassle-free operations.
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 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.
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.
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