Limited Liability Partnership Registration
Hybrid version of Private Limited Company and Partnership Firm with Limited Liability
What is a Limited Liability Partnership?
LLP is hybrid and alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. Thus, LLP formation gives combined benefits of Private Limited Company and Partnership. You can now avail the services of
LLP Firm registration online
with Wisefilings. Moreover, it has more flexibility as the LLP Agreement can be amended as per the requirement.
Likewise, Private Limited Company, LLP is also having perpetual succession and limited liability restricted to the amount of Contribution by each partner/Designated Partner.
LLP is governed by LLP Act, 2008 and The Limited Liability Partnership Rules, 2009. All the rules and regulations are listed online while you start your
limited liability partnership firm registration
. If you are looking for LLP Registration in Mumbai, Ahmedabad or any other city in India, Wisefiling is happy to help you with the registration process.
Lets go for the Limited Liability Partnership Registration
Registration
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Plans of Limited Liability Partnership Registration
Plus
- 2 DIN (Director Identification Number)
- 2 DSC (Digital Signature)
- LLP Incorporation
- LLP Agreement (Stamp duty up to Rs. 500/-)
- PAN & TAN
Pro
- 2 DIN (Director Identification Number)
- 2 DSC (Digital Signature)
- LLP Incorporation
- LLP Agreement (Stamp duty up to Rs. 500/-)
- PAN & TAN
- GST Registration
discover the features
Simple solutions for Limited Liability Partnership Registration
Benefits of Limited Liability Partnership Registration
No Mandatory Audit Requirement
Get your
LLP company registration
as the advantage of it is that, its accounts are not compulsorily to be audited until the time it falls under the following criteria:
- contributions of the LLP exceeds Rs. 25 Lakhs, or
- annual turnover of the LLP exceeds Rs. 40 Lakhs
Flexible LLP Agreement
The rights and duties of partners can be defined separately under LLP Agreement hence it protects from any future disputes. You can find the rights and duties mentioned even if you choose for
online LLP registration
.
Separate Legal Entity
It is a separate legal entity hence; unlike traditional Partnership, the partners are not liable for the unauthorized acts of other partners. This is another advantage of
LLP Firm Registration in India
.
No Minimum Capital Requirement
There is a misbelief that one requires minimum amount of capital to start an LLP, though in reality there is no minimum capital requirement, one can start an LLP with any amount of capital. Grab the
Fast LLP Registration Services
today!
Perpetual Existence
The existence of an LLP is not dependent on partners as in partnership firm, hence the existence of an LLP will not affect with the change in partners.
Required Documents for Limited Liability Partnership Registration
The documents required for LLP Incorporation are categorized as under
| For Designated Partners/Partners | For Registered office |
| Permanent Account Number (PAN) | Business address proof(Electricity bill/Telephone bill/Gas bill/Mobile bill- not older than 2 months) |
| Photo Identity proof (Adhar card/Driving License/Election card/Passport) | No objection certificate from the owner |
| Residential address proof (Bank statement/Electricity bill/Telephone bill/Gas bill/Mobile bill- not older than 2 months) | Rent agreement (if rented) |
| Passport size photograph |
Procedure of Incorporation of Limited Liability Partnership (LLP) Registration
- Obtaining Digital Signature (DSC)
- Checking the Name availability
- Drafting of registration documents
- Filing of incorporation form with MCA
- Applying for PAN & TAN
- Drafting of LLP Agreement and filing it with MCA
Immediate Post Incorporation Compliance
- Opening of bank account
- Deposit the amount of contribution
Difference Between LLP And Partnership Firm
| Limited Liability Partnership | Partnership Company | |
| Act Applicable | LLP Act,2008 | The Partnership Act,1932 |
| Statutory Compliance | The Compliances are more as compared to Partnership. | The compliances are less. |
| Compliance Cost | As the compliances are more, the cost is also higher. | The compliance cost is moderate. |
| Maximum number of Members | No upper limit | The Partners cannot be more than 100. |
| Liability | The Liability is limited only up to the amount of contribution. | The liability of the partners is unlimited. |
| Registration | The Registration of LLP is done under the Ministry of Corporate Affairs. | The Registration of Partnership Firm is not mandatory; however, the Registration can be done under ROF (Registrar of Firms) |
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Get answers to all your queries related to
Limited Liability Partnership Registration
There is no minimum capital required to start an LLP hence limitation of the fund is not a hindrance. Get rolling with
LLP Registration in Mumbai or Bangalore
immediately.
The LLP can start with a minimum of 2 Partners and there is no upper limit for the maximum number of Partners.
The Designated Partner in LLP stands on the same level as Director in Company as he is responsible for the non-compliances and involved in the day to day management, whereas a Partner is not involved in the day to day management of the LLP, his Liability is limited to the extent of LLP Agreement clauses.
Yes it is necessary to have a place of business in Indiaonly; however, the place of business can be residential address also if you don’t have a commercial place of business.
DIN is required only for the Designated Partner, in the case of a Partner the appointment can be done on the basis of PAN number.
As till the Incorporation, the Process is centralized it takes 12-15 working days, once the LLP is incorporated within 30 days LLP Agreement needs to be filed, which is under state approval and hence it differs on the basis of the state.
No, the person is who has attained the age of 18 i.e. Major can become the Designated Partner or Partner in LLP.
Yes, Body Corporate can become the Designated Partner of an LLP.
Yes the provisions are available for conversion of LLP into Company by following the procedure laid down in the Act.
LLP is required to get its account audited only if falls under the criteria:
- contribution more than Rs. 25 lakhs or
- turnover exceeds Rs. 40 Lakhs
The LLP Agreement is an internal agreement between partners of the LLP in which rights, duties, obligations, profit sharing ratio and other matters are defined in to regulate the LLP.
Yes, a foreign national and an NRI can become Designated Partner of LLP as there are no restrictions on the same, although at least one of the designated partner should be Indian national.
As a part of Annual Compliance of an LLP you have to file two forms: Form 8 and Form 11.
In LLP Act,2008 and rules made thereunder there are no restrictions, thus if it is allowed under the employment agreement then you can start an LLP and can become the partner of an LLP.
LLP agreement is mandatory according to the section 23 of the Act. Within 30 days of the incorporation of LLP, an eForm3 is to be filed with the registrar along with the LLP agreement.
For limited liability partnership firm registration, the LLP registration fees in Mumbai & other cities of India depend upon business to business. WiseFilings provides you with the best affordable rate in the market for LLP registration.
Kindly contact Wisefilings for assisting you with step-by-step procedure to complete the online LLP registration.
No, the process of LLP registration can be done online and no physical presence is needed.
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