Limited Liability Partnership

Register NLimited Liability Partnership (LLP) India

Rs. 8,000/- (inclusive of all taxes & fees)

Important Points

- LLP registration in 20 to 25 days.

- Completely online service - No physical presence required

- No minimum capital requirement


Limited Liability Partnership (LLP)

Know what is LLP? and how it is registered?

What is a Limited Liability Partnership (LLP)?

LLP is a partnership firm with additional benefits of a private limited company. It is launched in the year 2008, LLP offers various benefits over the traditional partnership firms. One of the best LLP benefit is that personal assets are safe under LLP but not in traditional firm.

How to register Limited Liability Partnership (LLP) in India?

Limited Liability Partnership (LLP) require only 2 persons to start with and there is no minimum capital requirement for LLP registration. The LLP registration procedure is as follows:

  • Prepare DSC and file Name Approval: The first step is to prepare DSC and DIN. This takes sometime one to two days. Thereafter, you need to file for name approval. The first word of the name should be unique and name should end with the words “LLP”.
  • File for Incorporation: After taking name approval, the next step is to file the LLP incorporation in form 2 after preparing the necessary documents.
  • File LLP Agreement: After incorporation, LLP agreement must be drafted and finalized and printed on stamp paper. Then the same needs to be filed to the registrar within 30 days via Form 3.


Documents required for LLP Registration in India

For Designated partners:-
  • Copy of PAN Card
  • Aadhar Card
  • Address Proof (Bank Statement, Mobile bill, Telephone bill)
  • Passport Size Photo
For Registered Office:-
  • Ownership Proof (Electricity bill etc)
  • Utility Bill (Gas bill, Electricity bill)
  • NOC (Download format)


Time & Cost for LLP Registration in India

The Total Cost Breakup

Items

Qty

Price

.Digital Signature Certificate (DSC) 2 1,900
.Director Identification Number (DIN) 2 12,00
.Name Approval 1 400
.Incorporation Fee - 1,200
.PAN and Tan Application - 300
.Professional Fee (Inclusive of Taxes) - 3000

Total LLP Registration Cost in India 8,000/-


Mandatory Requirements for LLP Registration in India

Now a days, LLP registration has been eased a lot by the Ministry of Corporate Affairs (MCA). Further, LLP registration gives you the mental peace by securing your personal assets. This is because in todays world, where business are competing like anything, securing your personal assets is a real challenge. Here are basic requirements:

Minimum two people are required to start a LLP in India.

Drafting of LLP agreement is a must.

Whatever your capital amount is, you must invest the same into the business

Drafting of LLP Partnership Agreement in India

LLP agreement is the sole documents which governs the entire LLP operations and therefore, it automatically becomes more important. Even if you are not registering your LLP with Hubco.in, then you you must ask your service provider to draft the LLP agreement properly and make sure to include the following points:

* Capital and Profits: Gone are the days when people used to trust and commit upon oral agreements. Hence, your agreement must contain the points regarding initial capital, Interest on loan, capital and profit distribution etc.

* Partners rights & Duties: Mostly partners are set apart because of miscommunication between the partners and hence you must document the rights and duties properly.

* Other: You should also include points like Admission of new partner, retirement, expulsion etc.

The main advantage of a Limited Liability Partnership over a traditional partnership firm is that in a LLP, one partner is not responsible or liable for another partner's misconduct or negligence. A LLP also provides limited liability protection for the owners from the debts of the LLP. Therefore, all partners in a LLP enjoy a form of limited liability protection for each individual's protection within the partnership, similar to that of the shareholders of a private limited company. However, unlike private limited company shareholder, the partners of a LLP have the right to manage the business directly.


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