What do you understand by the term 'Limited Liability Partnership'?
Are you willing to incorporate your business setup without any investment and office? Go for LLP registration. LLP gives you dual benefit as liability of limited company and flexibility of partnership. Professionals like Lawyers, Architects, Consultants, CA etc. understand this benefit and uses LLP as their registration solution. Government also initiated new process from 2nd October 2018 resulting registrations of LLP in a very fast manner. Limited Liability Partnership is simple form of company registration with just 2 partners. It is registered under Limited Liability Partnership Act, 2008 with Ministry of Corporate Affairs (MCA).
Contact us now and get your company registered by industry experts.
What are the basic requirements to Register a 'Limited Liability Partnership'?
Choose Unique Name
As per MCA rules, unique name is must to register your company which is not matching with already registered companies or trademark from the same industry sector and your name must be suffixed with word 'LLP'.
Zero Capital Requirement
There are no limits set by the rule for minimum capital requirement while registering a LLP. Thus without any initial investment, you can start your business as Limited Liability Partnership.
Only 2 Persons are Enough
To start a Public Limited Company, minimum 7 persons or shareholders or directors are must.
Select One Director of Indian Nationality
To start your business as LLP, minimum 2 partners are enough.
Process of Limited Liability Partnership Registration
- ⦁ Choose your partner and submit basic documents
- ⦁ Apply for Digital signature (DSC)
- ⦁ Submit all legal documents
- ⦁ File your documents with ROC
- ⦁ Certificate of incorporation is hand-over to you.
- ⦁ Take your business forward on receiving LLP agreement
Investment:
- 4500*
Professional fees
Advantages of Limited Liability Partnership
Company needs an enough capital for its operational and managerial purpose and for that they borrow it from possible resources. In LLP, if company fails to repay the borrowed money, partner’s personal assets or properties remains protected.
To maintain ease of operations and maintenance of business, rights and responsibilities of each partner is clearly defined at the time of incorporation.
Reliable businesses are the favorite choices by the investors, corporate customers and reputed vendors and LLP is highly referred as most reliable business structure.
If your capital investment is not above Rs. 25 Lacs and your company’s turnover is not crossing limit of Rs. 40 Lacs annually, then annual audit is not mandatory for LLP.
Rights and authorities of one partner can be easily transferred to new / another partner.
As LLP is also considered as separate entity, all the assets and property of company belongs to LLP itself.
Death or non-existence of any partner will not lead to closure of LLP as LLP is legal and separate entity and has its own existence.
