Limited Liability Partneship Registration

What is a Limited Liability Partneship Incorporation?

A Limited Liability Partnership (LLP) is a form of business that offers the combined features of ‘Partnership’ and ‘Limited Company’ business structures. This business form was introduced in India in April 2009 with the enactment of the Limited Liability Partnership Act, 2008. In an LLP, a partner is not responsible or liable for another partner's misconduct or negligence. Instead, all partners have limited liability, limited to their own acts of commission or omission, similar to shareholders’ liabilities in a limited company. However, unlike the shareholders in a company, LLP partners have the right to manage the business directly. An LLP also limits the personal liability of a partner for the errors, omissions, incompetence, or negligence of the LLP's employees or other agents. The management of the day-to-day business is outlined in the LLP Agreement, providing partners with the freedom to regulate the affairs of the business. LLP registration is administered by the Ministry of Corporate Affairs (MCA) through the Office of the Registrar of Companies. The incorporation process is fully electronic, similar to the company registration process, i.e. applications and documents are filed electronically and the Registrar issues a digitally signed Certificate of Incorporation (COI).

Limited Liability Partneship Registration Benefits

Advantages of Limited Liability Partneship Company

There are several reasons why people opt for LLP registration in India over Private Limited Company incorporation. LLPs are considered to be easier to set up and flexible form of business. Entrepreneurs find it feasible to start their organization as it is comparatively hassle-free in day-to-day operations. Here, we take a look at the various advantages of LLPs

Low registration cost:
The cost of registering an LLP in India is comparatively lower than that of incorporating a public limited company or a private limited company.
No requirement for minimum contribution:
As an LLP can be formed with the least possible capital, there is no minimum capital requirement in the incorporation of an LLP.
No limits on the owners of the business:
An LLP requires a minimum of 2 partners but there is no such upper limit on the maximum number of partners. Whereas in a private limited company there are restrictions on having more than 200 members.
No requirement of compulsory audit:
Whether the company is Public or Private irrespective of their share capital is expected to get its account audited. But here in the case of LLPs, there is no such mandatory requirement and this is considered to be one of the significant compliance benefits of forming an LLP. A Limited liability company is supposed to get its audit done only in two cases. 1.When the contribution of LLPs exceeds over Rs. 25 lakhs. or 2.When the annual turnover of LLPs exceeds over Rs. 40 lakhs.
Taxation aspect on LLP:
LLP is liable for payment of income tax and the share of the partner is not liable to taxation. Thus, no Dividend Distribution Tax (DDT) is payable.

Documents Required For Limited Liability Partneship Registration

This list is also known as “Company registration checklist

PAN Card of all the partners.
Passport size photographs of the same must be shown.
Either the “Aadhaar Card or the Voter identity card”, has to be presented during the process.
If the company property is on rent then the rent agreement is to be shown.
One of these two:- Electricity/ Water bill but any of them must be of the business place only.
Property papers (owned).
Landlord NOC (Format will be provided).

Limited Liability Partneship Registration Process

Complete our Simple Form

You need to fill our simple company registration form and submit documents for the formation of a company.

Obtain DSC and DPIN from us

After submitting your documents we will provide you with DSC and DPIN

Verification and Name Approval

Details provided by you will be verified and then we shall apply for name approval.

Document Submission

We will create all the required Limited Liability Partneship company registration documents and file them with ROC on your behalf

Your work is completed

You will receive documents and DSCs, upon the incorporation of your company.

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