Limited Liabilities Partnership Registration

Introduction

Starting a business is exciting! CorpIQ makes registering your Limited Liability Partnership (LLP) in India easy and hassle-free so you can focus on your dream, while we handle the paperwork.

When we talk about small businesses there are multiple business structures available in India such as Sole Proprietorship, Partnership firm, Limited Liability Partnership (LLP) registration, Private Limited company registration, One person company (OPC) Registration.

One of the most sought-after business structures is Limited Liability Partnership (LLP). Initially it was preferred by working professional such as doctors, Chartered Accountants, Company Secretaries, Cost and Management Accountant etc. who are not allowed to register themselves into company form of business to carry out their professions. But now, every type of business is venturing into LLP form of business for lesser compliance.

The basic idea behind the introduction of the concept of LLP is to create a corporate form of business with the benefits of traditional partnership business. Therefore, LLPs are known as hybrid of company and partnership form of business.

WHY LLP REGISTRATION?

• Simple & Flexible: LLP is a mix of a company and a partnership. It's easy to run, and you get to decide how you manage it.

• Less Risk: Your personal stuff (like your home and savings) is safe. You won't be responsible for the LLP's debts beyond your investment.

• Low Costs: Starting and running an LLP can be cheaper than other business types.

• Less Paperwork: Unlike big companies, LLPs often have fewer reports and forms to fill out.

 

CORPIQ SERVICES IN LLP REGISTRATION

• A to Z in LLP Registration: From your first question on what is LLP to getting your LLP Certificate of Incorporation, we're with you!

• Friendly Advice: Got doubts? CorpIQ have team of Professionals who will explain things in simple words, so you always understand.

• All the Paper Stuff: Don't worry about the forms and documents. We take care of it that is required to be filed with the MCA website.

• Help After Registration: Got your LLP Registration Certificate? Great! We're 
• still here for any more help you need including drafting and filing of LLP Agreement, opening of current account including GST Registration and others.

 

STEPS TO REGISTER LLP

• Chat with Us: Let's talk about your idea and why you want an LLP for your business type after talking about your business with our team of Professionals.
• Give Your Papers: Share some necessary documents with us like Partners KYC documents including the Registered Office documents of the LLP.
• Filing with MCA: We'll fill out the forms along with the incorporation documents including filing of LLP Name, Digital Signature and other essential requirements.
• Handholding: You get your LLP certificate along with LLP Agreement, PAN & TAN and other incorporation support documents to open the current account and can start your business.

 

FEATURES OF AN LLP

• It is a blend of Traditional partnership and company form which has separate legal entity and perpetual succession.
• It holds property in its own name, sue and sued by its own name.
• Every LLP shall have two partners and 2 designated partners. However there is no limited on maximum number of partners.
• LLP can be formed for profit motive only. It can't be formed as NGO or NPO.
• Partners have liability limited to the extent of their contribution amount. There personal assets are protected from paying off debts of LLP.
• Every LLP name shall end with the word “LLP”.

 

DOCUMENTS REQUIRED FOR LLP REGISTRATION

• Designated Partners/ Partners
• Self-attested copy of PAN (Mandatory)
• Self-attested copy of Proof of identity - (Voters Identity Card/Passport/Driving License/Aadhaar)
• Self-attested copy of Residential proof, not older than 2 months - (Bank Statement/Electricity Bill/Telephone bill/Mobile bill/Utility Bill/Registered/Notarized Rent Agreement
• Registered office address proof
• Copy of the utility bills (not older than two months)
• No Objection Certificate (NOC) from the owner of the Property.
• If the Property is on Conveyance/ Lease/Rent - Conveyance/ Lease deed/Rent Agreement along with rent receipts