An LLP, or Limited Liability Partnership, is a popular form of partnership where partners enjoy limited liability, providing protection for personal assets against debts, liabilities, and damages. It operates as a corporate body and a separate legal entity, registered under the LLP Act, 2008.
Simplifying company registration
₹499 ₹399
What's included:
Initiating Company Registration with Exclusive Offers
₹2999 ₹1999
What's included:
Comprehensive Solution (LLP Incorporation + Annual Compliance)
₹16999 ₹8499
What's included:
Note: Govt. fees and taxes are not included in the prices
● Minimum Compliance: Whenever a private limited company is involved, something else always gets in the way (unless you hire someone to handle this for you). You avoid this hassle when you form a partnership. Seriously you don't want to start out your business burdened with compliance work. You simply want to concentrate on your company.
● Simple to Begin: One of the simplest types of businesses to launch is a partnership. In most cases, a partnership deed registration is the only necessity for register partnership firm in india. As a result, a partnership can be established today. On the other hand, an LLP enrollment would take between 5 and 10 working days to complete because the MCA must be contacted for the electronic signature, DIN, name approval, and incorporation.
● Comparatively Economical: You will have to pay at least ₹15,000 to establish a private limited company, not to mention compliance and auditor fees. When you're just getting started, do you want all this baggage? A partnership, however, will only set you back about ₹2,000
A registered office must be established. Stages of Incorporation of LLP:
1. Procure Digital Signature Certificate: - Applicants and partners of the LLP need a Digital Signature Certificate (DSC) with a validity of 2 years PAN CARD to file online forms with the MCA.
2. Reserve LLP Name: - Utilize the web form 'RUN-LLP' (Reserve Unique Name - Limited Liability Partnership) for reserving a unique name for the LLP. - The form replaces the old LLP Form 1 and requires basic details and the significance of the desired name.
Applicants can provide up to 2 names in order of preference, ensuring compliance with applicable provisions for name reservation.
If none of the names provided are approved, there is an opportunity to apply for two more names.
Government fees for the RUN form follow the Register Office Fees Rules. - DSC and DIN are not required for filing the RUN form, but having an MCA portal account is mandatory. - Once the name is allotted for the LLP, it is reserved for 90 days from the date of approval.
LLPs must apply for PAN and TAN separately through offline or online mode directly to the Income Tax Department using forms 49A and 49B. The Certificate of Incorporation serves as supporting proof.
The LLP Agreement, a foundational document, is crafted to meet specific partner requirements.
● LLP's Name.
● Partners and Designated Partners' Details.
● Business Objectives.
● Place of Business.
● Contribution and Interest on Contribution.
● Profit Sharing Ratio
● Rights and Duties of Partners.
● Proposed Business.
● LLP Governance