Limited Liability Partnership (LLP) Registration is an excellent choice for small and medium-sized enterprises looking for a partnership structure with limited liability benefits. An LLP is recognized as a separate legal entity, protecting partners from personal liability while allowing for flexible management and operations. The registration process is straightforward and includes obtaining a Director Identification Number (DIN) and a Digital Signature Certificate (DSC), along with approval of the LLP name. There is no minimum capital requirement, making it accessible to businesses of varying sizes. Additionally, LLPs benefit from reduced compliance costs and simpler regulatory requirements compared to other business structures.
Limited Liability Partnership (LLP Registration)
Ideal business structure for Small and Medium sized Enterprises going for Partnership:
Our LLP registration giveaways:
- LLP a separate legal entity
- Simple Registration Process
- Obtain DIN and DSC
- LLP name approval
- Complete LLP incorporation support
- LLP Agreement
- No minimum capital requirement
- Lesser cost and compliances
Procedure to Form a Private Limited Company
Obtain DSC and DIN
After submitting the documents the next step is to obtain the proposed Director is digital signature (DSC) and DIN.
Name Approval
Choose 2 proposed names and apply for LLP name approval online which will be processed by Central Registration Centre (CRC).
Incorporation of LLP
Digitally signed application form for the incorporation of the LLP by the person having DIN named in the incorporation document. After fulfilling all requirements successfully the LLP would get registered by the Registrar.
File LLP Agreement
LLP agreement defines the responsibilities, rights, and duties between the partners and the LLP.
Documents required for LLP Firm
Documents required for Partners:
- ID Proof e.g. PAN Card of all the Partners
- Address Proof of all the partners
- Partners Residence Proof
- Passport size Photograph of all partners
- Valid Passport in case of Foreign Nationals/ NRIs
Documents of LLP:
- Address Proof of LLP Registered Office
- LLPs Digital Signature Certificate
Benefits of Registering a LLP
Limited Liability Protection: Partners in an LLP have limited liability, meaning their personal assets are protected from business debts and liabilities.
Separate Legal Entity: An LLP is a distinct legal entity, separate from its partners, allowing it to own property, enter contracts, and sue or be sued in its own name.
Flexible Management Structure: LLPs offer flexibility in management and operations, allowing partners to define their roles and responsibilities as per the LLP agreement.
No Minimum Capital Requirement: There is no mandatory minimum capital requirement to start an LLP, making it accessible for businesses with varying financial capacities.
Tax Benefits: LLPs are generally taxed as partnerships, which can be advantageous for profit distribution and tax efficiency.
Ease of Formation and Compliance: The process of registering an LLP is relatively simple and cost-effective, with fewer compliance requirements compared to other business structures.
Professional Credibility: Being registered as an LLP can enhance the credibility of your business and foster trust with clients, suppliers, and investors.
Perpetual Succession: An LLP continues to exist independently of changes in ownership or partnership, ensuring business continuity.