Limited Liability Partnership

LIMITED LIABILITY PARTNERSHIP

LLP Incorporation

Limited Liability Partnership (LLP) is a corporate structure that combines the flexibility of a partnership and the advantages of limited liability of a company at a low compliance cost. In other words, it is an alternative corporate business vehicle that provides the benefits of limited liability of a company, but allows its members the flexibility of organising their internal management on the basis of a mutually arrived agreement, as is the case in a partnership firm.

Starting From ₹15,999/-
inclusive of all taxes.



Limited Liability Partnership

Limited Liability Partnership (LLP) is a new corporate structure that combines the flexibility of a partnership and the advantages of limited liability of a company at a low compliance cost. In other words, it is an alternative corporate business vehicle that provides the benefits of limited liability of a company, but allows its members the flexibility of organising their internal management on the basis of a mutually arrived agreement, as is the case in a partnership firm.

Documents Required

Pan Card of Proprietor / Applicant

Any of mentioned documents address prof of proprietor –

  • Electricity Bill
  • Rent Areement

Process

  1. Purchase a plan
  2. Upload required documents
  3. Expert will consult you
  4. Registration within 7 days.

 

PARTNERSHIP REGISTRATION

₹15,999

inclusive of all taxes

  • Digital Signature & DIN
  • Name Approval
  • LLP Incorporation
Digital Signature & DIN

DSC and Designated Partner Identification Number(DPIN) is obtained for the proposed Partners of the LLP. DPIN and DSC can be obtained for the proposed Partners within 5 to 7 days.

Name Approval

A minimum of one and a maximum of six names choices must be submitted to the MCA. , name approval can be obtained in 5 to 7 working days.

LLP Incorporation

Incorporation documents can be submitted to the MCA with an application for incorporation. MCA will approve the application for incorporation of LLP in 10 to 12 days,

Information Guide

Separate Legal Entity

A LLP is a legal entity and a juristic person established under the Act. The partners are distinct from the entity and both can sue each other and get sued in the process.

Uninterrupted Existence

A LLP has ‘perpetual succession’, that is continued existence until it is brought on the terms of the dissolution by mutual agreement within the partners. Partners may come and go, but an LLP goes on.

Audit not Required

Entrepreneurs earning a turnover of less than 40 Lakhs and capital contribution of less than 25 Lakh need not get their accounts audited .Therefore, LLPs are ideal for startups and small businesses that are just starting their operations and want to have minimal regulatory compliance related formalities.

The ownership of a LLP can be easily transferred to another person. All you need is to induct them as a Designated Partner of the LLP. LLP is a separate legal entity separate from its Managing Partners, so by changing the Managing Partners, the ownership of the LLP can be changed.

 

An LLP being a juristic person, can acquire, own and enjoy property in its own name. And this is entirely distinct from its partners. No Partner can make any claim upon the property of the LLP so long as the LLP is a going concern.

 

The biggest advantage is Limited Liability, which means the status of being legally responsible only to a limited amount for debts of a LLP. Unlike proprietorships and partnerships, in a LLP the liability of the members in respect of the LLP’s debts is limited. The personal assets of the directors are safe if the company goes bankrupt.So it’s entirely a win –win situation for you if you plan to step to head forward with a suffix LLP.