Limited Liability Partnership Registration
Limited Liability Partnership (LLP)
A Limited liability partnership is a business entity created under the Limited Liability Act 2008. The positive aspect of a limited liability Partnership is that one partner is not responsible for the misconduct of the alternative partners. Limited liability Partnership offers indebtedness to its owners & requires minimal maintenance. Limited Liability Partnerships have indebtedness to their owners, and just in case of default, banks/creditors can sell only the company’s assets & not the owner's personal assets.
Difference between Limited Liability Partnership and Partnership.
- Cost - The cost of online LLP registration in India is comparatively quite more than partnership registration.
- Authority - online LLP registration in India is under the Ministry of Corporate Affairs, Central Govt. India. While Partnership firms are registered with the registrar of firms and controlled by the respective state govt where the firm is registered.
- Limited liability protection - the foremost advantage of the limited liability Partnership over a partnership firm is that in a limited liability partnership, one partner can't be accused and is not in control of the deeds or misconducts of the other partner. An LLP also offers indebtedness protection to the owners from the debts of the LLP. Although, unlike private Ld. shareholders, partners of the LLP have the right to manage their business directly
- Number of partners - Limited liability partnership and partnership firm needs to have a minimum of two members for the registration. Though after LLP registration online it can have an infinite number of partners but in the case of partnership if the number of partners goes below the mandatory number of two partners due to death, incapacitation, or resignation the partnership firm would be dissolved. However, in the case of a Limited liability partnership whether or not the number of partners comes right down to one, the sole real partner will have the right to manage the business and appearance for more partners without getting the firm dissolved.
Advantages of LLP company Registration
Low registration cost
The cost of online LLP registration in India is comparatively lower than that of incorporating a public Ltd. or a private Ltd. LLP company registration is cheaper and will not be heavy on your pocket.
No requirement for minimum contribution
As a Limited liability partnership is to form with the smallest amount of possible capital, there is no minimum capital requirement with the LLP company registration or LLP registration online.
No Restrictions on Business Owners
An Limited liability partership requires a minimum of two partners, but there is no such upper limit for the first number of partners for LLP company registration. While during a pvt ltd company there are limitations of more than 200 members.
No Mandatory Audit Requirement
Whether a company is public or private, regardless of its share capital, it is expected to get its account audited. But here, in the case of an Limited liability partnership, there is no such mandatory requirement as can be understood as one of the various compliance benefits associated with forming a Limited liability partnership.
Tax aspect of LLP
A limited liability company controls the payment of taxes because the partner's share is not liable for taxation. Therefore, no Dividend Distribution Tax (DDT) is payable.
Documents required for online LLP registration in India
Following are the documents required for LLP registration online
For the Partners:
- PAN card or Passport if the applicant may be a foreigner.
- Drivers license or Aadhar card, resident card or election card, or the opposite identity proof issued by the government
Proof of residence:
- Owner's authorization (name shown on electricity bill or gas bill revenue increase certificate or sale deed) to use the premises as a residence. It works as a NOC from the owner and;
- Proof of evidence of any utility services like gas, electricity, telephone depicting the address of the premises bearing the name of the owner or document, which isn't old than two month
These are the mandatory documents required for LLP company registration.
Online LLP Registration Procedure
FAQ's
Few doubts important to be resolved quickly
1. Is my physical presence required during any LLP company registration process?
2. What is a Digital Signature Certificate?
3. What are the annual costs of an LLP?
4. What are LLP deeds?
5. What is the minimum and maximum limit of partners in LLP company registration?
Limited Liability Partnership Registration
GOLD
- Registration within a week
- Authorised Capital upto 5 lakhs
- LLP Deed and Pan
- 2 DIN & DSC
- Certificate of Incorporation e-copy
- FREE CONSULTANCY
- GST Registration
- Udyam Registration
- Professional Website
- 1 year Domain & Hosting
- Basic On-Page SEO
- Google Analytics & Web mails
- Trademark Registration
- Annual Compliances
- ISO 9001:2015
- ITR of LLP
PLATINUM
- Registration within a week
- Authorised Capital upto 5 lakhs
- LLP Deed and Pan
- 2 DIN & DSC
- Certificate of Incorporation e-copy
- FREE CONSULTANCY
- Professional Website
- 1 year Domain & Hosting
- Basic On-Page SEO
- Google Analytics & Web mails
- GST Registration
- Udyam Registration
- ISO 9001:2015
- Trademark Registration
- Annual Compliances
- ITR of LLP
DIAMOND
- Registration within a week
- Authorised Capital upto 5 lakhs
- LLP Deed and Pan
- 2 DIN & DSC
- Certificate of Incorporation e-copy
- FREE CONSULTANCY
- Professional Website
- 1 year Domain & Hosting
- Basic On-Page SEO
- Google Analytics & Web mails
- GST Registration
- Udyam Registration
- ISO 9001:2015
- Trademark Registration
- Annual Compliances
- ITR of LLP
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