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Registering a Company as Limited Liability Partnership is quick, easy and can be done online with SOFTRE
Registering a Company as LLP is quick, easy and can be done online with SOFTRE
Utility Bill must be the most recent and be no older than 30 days.
NOC from owner of premises + Rental agreement OR sale deed
Signed Declaration (s) from Promoters.
Email of LLP
Mobile of LLP
Bank statement or passbook with transactions recorded that are less than 30 days old
Recent 30-day electricity bill in the promoter’s name
Any mobile bill that is less than 30 days old, such as a phone bill
Utility bills with promoters’ names on them, such as a recent Gas Bill
Photographs of Partners.
PAN Card of Each Partner.
AADHAAR
Passport if available
Address Proof of Promoter
Mobile Number (personal)
Email (personal)
Utility Bill must be the most recent and be no older than 30 days.
NOC from owner of premises + Rental agreement OR sale deed
Signed Declaration (s) from Promoter.
Email of company
Mobile of company
Bank statement or passbook with transactions recorded that are less than 30 days old
Recent 30-day electricity bill in the promoter’s name
Any mobile bill that is less than 30 days old, such as a phone bill
Utility bills with promoters’ names on them, such as a recent Gas Bill
Photograph of Director + Nominee.
PAN Card of Each Director + Nominee.
AADHAAR for Director + Nominee
Passport if available
Address Proof of Promoter/ Director + Nominee
Mobile Number (personal) Director + Nominee
Email (personal) Director + Nominee
The Ministry of Corporate Affairs introduced a Limited Liability Partnership as the newest form of corporate structure in 2008.
LLP stands for limited liability. In essence, it is a legal business partnership between two or more partners, much like a private limited corporation. Each business partner is given a certain amount of responsibility, so they aren’t entirely responsible for the debts or other obligations of the company.
In an LLP, the other partners are not liable for any minor offenses or actions taken by one partner alone. Each partner is accountable for their individual deeds.
The Ministry of Corporate Affairs introduced a Limited Liability Partnership as the newest form of corporate structure in 2008.
LLP stands for limited liability. In essence, it is a legal business partnership between two or more partners, much like a private limited corporation. Each business partner is given a certain amount of responsibility, so they aren’t entirely responsible for the debts or other obligations of the company.
In an LLP, the other partners are not liable for any minor offenses or actions taken by one partner alone. Each partner is accountable for their individual deeds.
Convenient :
Starting and running a business like an entrepreneur is quite straightforward. LLP agreements are customised to meet the needs of the partners involved.
Minimum capital :
It can be launched with a small amount of capital. Money in capital can take the shape of actual (real) assets like land or machinery or it might be intangible. The minimum capital for both private limited companies and public limited companies is either Rs. 1,000,000 or Rs. 5,000,000. However, under LLP, no such capital is needed.
Two Partners Minimum :
A minimum of two business partners are needed for an LLP. You can change it if you have two or more business partners. In contrast to a private limited company, which is limited to have no more than 200 partners, there is no such restriction on the maximum number of business partners.
Cost of registration is less :
The cost of registration is low compared to other companies like private and public limited company.
Compulsory audit is not required :
In LLPs, it is not mandatory to audit the accounts.But it is necessary to audit the accounts in the following circumstances
*When LLP contributes more than Rs. 25 lakhs.
*When the LLP’s yearly turnover crosses Rs. 40 lakhs.
Convenient :
Starting and running a business like an entrepreneur is quite straightforward. LLP agreements are customised to meet the needs of the partners involved.
Minimum capital :
It can be launched with a small amount of capital. Money in capital can take the shape of actual (real) assets like land or machinery or it might be intangible. The minimum capital for both private limited companies and public limited companies is either Rs. 1,000,000 or Rs. 5,000,000. However, under LLP, no such capital is needed.
Two Partners Minimum :
A minimum of two business partners are needed for an LLP. You can change it if you have two or more business partners. In contrast to a private limited company, which is limited to have no more than 200 partners, there is no such restriction on the maximum number of business partners.
Cost of registration is less :
The cost of registration is low compared to other companies like private and public limited company.
Compulsory audit is not required :
In LLPs, it is not mandatory to audit the accounts.But it is necessary to audit the accounts in the following circumstances
*When LLP contributes more than Rs. 25 lakhs.
*When the LLP’s yearly turnover crosses Rs. 40 lakhs.
Depending on the number of partners, members, permitted capital, and professional expenses, the cost of LLP registration in India ranges from INR 5,000 to INR 10,000+.
Professional fees change depending on how expensive it is to create a company.
Depending on the number of partners, members, permitted capital, and professional expenses, the cost of LLP registration in India ranges from INR 5,000 to INR 10,000+.
Professional fees change depending on how expensive it is to create a company.
Applicants must adhere to a few naming guidelines in order to be approved by the Registrar of Companies (RoC), a branch of the MCA in India. The officer examining your application may determine whether or not to approve it because some of them are arbitrary. However, the closer you go by the recommendations listed below, the better your chances of acceptance will be.
The name should not be similar to another name or be protected by a trademark in its first section. The business sector should be described in the second portion or suffix. The name will have an LLP suffix.
Salubrity Nutritional Ventures LLP, for instance.
Adjectives, abbreviations, and generic words are not allowed.
Consult with us for more detailed guidance on obtaining the legal name you want for your business.
Applicants must adhere to a few naming guidelines in order to be approved by the Registrar of Companies (RoC), a branch of the MCA in India. The officer examining your application may determine whether or not to approve it because some of them are arbitrary. However, the closer you go by the recommendations listed below, the better your chances of acceptance will be.
The name should not be similar to another name or be protected by a trademark in its first section. The business sector should be described in the second portion or suffix. The name will have an LLP suffix.
Salubrity Nutritional Ventures LLP, for instance.
Adjectives, abbreviations, and generic words are not allowed.
Consult with us for more detailed guidance on obtaining the legal name you want for your business.
The following are the main factors that influence people’s decision to use an LLP as their business structure:
Limited Liability:
Only a portion of an LLP’s debts are the members’ responsibility. However, in sole proprietorships and partnerships, the directors’ and partners’ personal assets are not protected in the case of a company’s failure.
separate legal entity:
The partners who make up an LLP are not legally linked to one another. The business will carry on even if the partners split up because it has an unbroken existence and everlasting succession. The terms of dissolution shall be mutually agreed upon prior to the dissolution of the firm.
Versatile Agreement:
It is also simple to change an LLP’s ownership. A selected partner can easily be added, at which time they get ownership.
Suitable for Small Businesses:
LLPs are free from formal audit procedures if their capital is less than Rs. 25 lakhs and their annual revenue is less than Rs. 40 lakhs. As a result, LLP registration helps start-up businesses and small businesses.
The following are the main factors that influence people’s decision to use an LLP as their business structure:
Limited Liability:
Only a portion of an LLP’s debts are the members’ responsibility. However, in sole proprietorships and partnerships, the directors’ and partners’ personal assets are not protected in the case of a company’s failure.
separate legal entity:
The partners who make up an LLP are not legally linked to one another. The business will carry on even if the partners split up because it has an unbroken existence and everlasting succession. The terms of dissolution shall be mutually agreed upon prior to the dissolution of the firm.
Versatile Agreement:
It is also simple to change an LLP’s ownership. A selected partner can easily be added, at which time they get ownership.
Suitable for Small Businesses:
LLPs are free from formal audit procedures if their capital is less than Rs. 25 lakhs and their annual revenue is less than Rs. 40 lakhs. As a result, LLP registration helps start-up businesses and small businesses.
The following conditions must be met in order to be eligible for registration as an LLP:
The following conditions must be met in order to be eligible for registration as an LLP:
A total 45 classes can be used to group product and services. You must indicate the class(es) on your trademark application based on the goods and services you are marketing because each class has a lengthy list of goods and services. The trademark would only be registered and protected under those classes.
If your trademark contains geographical names, everyday words, would hurt religious sentiments, or is the exact same as an application that already exists. It would also be disregarded if it was likely to confuse.
As soon as you submit the form and receive an acknowledgement, you can use the TM symbol. Once the registration procedure is complete, you can use the ® symbol.
Even if your brand name has already been registered, it may still be used in a different class. Unless the brand is extremely well-known, your application will likely be accepted.
You cannot access the word, but all is not lost. Instead, you might design a unique logo for your business that incorporates the name. There is a solution, although it would be best to have a unique name.
One of the Designated Partners must be an Indian resident, and there must be a minimum of two Designated Partners. You must also have a business address in India in order to designate it as your LLP’s registered office.
No, there is no set amount needed to form an LLP in India. The firm may spend any amount of funds to launch itself. Each partner must make a financial contribution even though there is no minimum amount required to join an LLP. The capital contribution amount is disclosed in the LLP Agreement, and the total contribution amount establishes the stamp duty amount.
An essential part of an online LLP registration is the availability of the LLP name. To reserve an LLP’s name, use the “LLP-RUN” online form (Reserve Unique Name). The partners may prioritise up to two names in order to reserve any one. The registrar may ask that the application be resubmitted under a different name if the proposed name does not satisfy the requirements for originality, applicability, or compliance with applicable laws.
In terms of nationality or residence, LLP partners are not subject to any restrictions. Therefore, under the LLP Act, 2008, foreign nationals, including foreign businesses and LLPs, are allowed to incorporate LLP in India. As a condition, there must be at least one Designated Partner who resides in India. The applicant must, however, be at least 18 years old. This procedure is carried out to make sure that the LLP member is of legal age and qualified to sign contracts. The proposed Designated Partner must also be DIN-holder.
The Ministry of Corporate Affairs issues a Director Identification Number to individuals in whose names applications are filed, allowing them to act as Designated Partners in LLPs or Directors in any firm.
The idea of a DPIN (Designated Partner Identification Number) has been replaced by a DIN with regard to the incorporation of an LLP. Director Identification Numbers, unique numbers, are given by the MCA to those who submit applications on their behalf. This makes it possible for anyone to act as a Designated Partner for an LLP or as a Director for any company.
The application for DIN allocation is submitted along with the incorporation application in FiLLiP, with a cap of 2 DIN.
Certified authority provide a token-based digital signature certificate for LLP. Any form filed for the incorporation of a Limited Liability Partnership (LLP) in India must bear the DSC of the chosen partner.
Yes, the partners must send the required collection of documents to an Indian company site. It might be a commercial or residential plot. The address is commonly used by the MCA and other relevant organisations for communication, and it is also made available on its website.
All of the partners signed an agreement known as an LLP Agreement when an LLP was formed in India. All business-related provisions, such as the duties, responsibilities, rights, and liabilities of LLP partners, are detailed in the agreement. The agreement must be submitted within 30 days of getting a certificate of incorporation. There will be an additional cost of 100 per day up until the filing date if this is not done.
The PAN and TAN used for LLP creation may be used once the Limited Liability Partnership’s Certificate of Incorporation has been issued. The physical copy of the PAN will be received at the Registered Office after being sent by the Income Tax Department.
