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Limited Liability Partnership

Are you looking to register your LLP? Then look no further! With FilingsFirst, you get expert assistance at every step.

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    Rs. 2,499 *


    Limited Liability Partnership

    Are you looking to register your LLP? Then look no further! With FilingsFirst, you get expert assistance at every step.

    Also Get Absolutely Free

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    PAN & TAN

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    Professional Tax

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      OVERVIEW
      BENEFITS
      DOCUMENTS REQUIRED
      PROCESS
      FAQ'S

      Overview

      Definition

      A Limited Liability Partnership (LLP) is a type of business structure that combines the flexibility of a partnership, and every partner has a limited personal liability for the partnership's debts.

      Regulators

      It was introduced in India in 2008 as per the Limited Liability Partnership Act, 2008.

      Pre-requisites

      Every limited liability partnership shall have at least two partners. A minimum of 2 Designated partners should be an Indian citizen. There is no minimum capital requirement in LLP.

      Validity

      A limited liability partnership shall have perpetual succession. Any change in the partners of a limited liability partnership shall not affect the existence, rights or liabilities of the limited liability partnership.

      Overview

      Definition

      LLP is a type of business structure that combines the flexibility of a partnership, and every partner has a limited personal liability for the partnership's debts.

      Regulators

      It was introduced in India in 2008 as per the Limited Liability Partnership Act, 2008.

      Pre-requisites

      Every limited liability partnership shall have at least two partners.

      Validity

      A limited liability partnership shall have perpetual succession.

      Proof of Address

      Copy of the latest Telephone Bill, Electricity Bill, or Bank Account Statement of the Shareholders and Directors

      Benefits of registering as a limited liability partnership firm

      Exercise a strong legal authority

      It grants businesses to get into an agreement, sign contracts, take legal actions, borrow funds and function independently irrespective of any change in the company policies or workplace conventions.

      Has fewer problems or issues

      An LLP company structure provides organisations with a flexible budget to conduct their activities. It does not carry out mandatory audits nor conducts board meetings to sort out the compliance issues.

      Equal share of liabilities

      An individual cannot be held responsible for the actions of his/her counterpart.

      Happens to be flexible

      An LLP can have existing individuals and businesses as members who take care of the daily activities. The managerial roles are clearly defined by the guidelines and the company structure safeguards the interests of the partners.

      Read More About LLP >

      Documents Required

      Pan & Aadhaar card

      Identity Proof

      Proof of Address

      Pass-port size photographs

      Apostilled or notarised notes

      Rent agreement

      NOC certificate

      Passport for foreign officials

      How quickly can you form an LLP ?

      Filings first will help you in obtaining a digital signature certificate

      Filings First will check the LLP name availability and apply for a name reservation under "LLP - RUN" and reserve the LLP name out of the availabilities

      Filings First will draft the LLP incorporation documents and file the application for LLP registration. The application for DIN allotment of designated partners and certificate of LLP incorporation will be made simultaneously

      Filings First will apply for PAN and TAN of LLP. Once the LLP approval is received we shall draft the LLP agreement

       
       

      We will file the LLP agreement once the stamp duty payment is made. We will finally wait for the approval of LLP Agreement.

      Quickest way to register

      • It is important to select an LLP package, answer a volley of questions, provide the necessary details and facilitate the online payment to initiate the process.
      • In order to figure out the process, it is necessary to pay heed to the advice solicited by experts. Consult an assigned relationship manager who might help with the OPC registration. 
      • Upon receiving the digital signatures, the company officials can write an application for LLP name reservation. After that, they can ask for the DIN,  draft the application letters to get the PAN and TAN and consequently wait for the certificate of LLP incorporation.
      • Finally, it takes 12-15 working days for the LLP to get registered.

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      Have Questions? Find Answers Here

      Depending on the products or services they provide, Limited Liability Partnerships (LLPs) must pay Goods and Services Tax (GST). LLPs need to register for GST and submit GST returns on a regular basis.

      A DSC is useful for electronically identifying the sender or signee. All recognized partners are required by the Ministry of Corporate Affairs (MCA) to submit applications with digital signatures.

      All current and potential designated partners of an LLP are given a special identifying number called a "Designated Partner Identification Number." A DPIN is required for each and every proposed or current director.

      It is possible to transform an existing partnership firm or an unlisted company into an LLP

      The stamp duty on the LLP Agreement in India is determined by taking into account the amount of capital contribution. State-to-state differences exist in stamp duty rates. Depending on where the registered office is, the State Stamp Act will be applied. Our package price includes the sum of 500.

      Once the Limited Liability Partnership's Certificate of Incorporation is produced, the PAN and TAN used for LLP creation can be utilized. Once it is sent by the Income Tax Department, the physical copy of the PAN will be received at the Registered Office.

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