In case you're looking to start up a new business, why not do it online?
The process has been simplified and our experts will guide you through all the steps – Registering your new startup as Limited Liability Partnership (LLP) with 2 DIN & DSC Name Approval Letter, COI, Drafting of LLP Agreement, PAN & TAN & Bank A/c opening Document. 100% Online Process of placing order and document submission, Chat with the startup specialist to get started
Our basic package for Incorporation of LLP Starts @ ₹ 7,921/-
Limited Liability Partnership (LLP) is a legal form of business structure in India offering limited liability to its partners.
It’s a hybrid business entity of both a Corporation and a Sole Proprietorship. Limited Liability Partnership (LLP) is an exciting new type of business partnership that carries all the benefits of conventional partnerships and limits your personal liability! It’s regulated as a contractual agreement between the partners under the Limited Liability Partnership Act, 2008.
SetyourBiz is the fastest growing company registration services in India, providing the Pvt.Ltd, LLP, Public Ltd company, one person company registration.
Documents Required For incorporation Limited Liability Partnership (all self-attested )
DOCUMENTS OF THE OWNER
- Colour Passport Size Photo – Two
- Self-attested Aadhar Card
- Self-attested PAN card
- Copy of latest Bank Statement
- Copy of Address Proof such as (Voter ID, Driving License, Passport, Bank Statement, Electricity Bill).
BUSINESS ADDRESS PROOF
- Registered Rent Agreement, Electricity Bill, Sale Deed, Property tax receipt or NOC
- Electricity Bill should not be older than two months.
- NOC from the Owner of Premises
Benefit of LLP
Limited Liability of its member
The members of an LLP are only liable for a small amount of debt incurred by it. On the other hand, for proprietorships and partnerships, your assets are left open to attack if you fail to pay what you owe.
Separate Legal Entity
An LLP is a distinct corporate entity from its partners. In this case, the law will provide for uninterrupted existence after perpetual succession. This means that while one partner may leave, they will never be able to take away the business. The dissolution agreement must also be mutually agreed upon before firms can cease operation.
When it comes to transferring the ownership of an LLP, it doesn’t take much. All someone has to do is become a designated partner and voila! They’re now the owner of an LLC.
Suitable For Small Business
LLPs with a capital of less than Rs. 25 Lakhs and gross annual revenues of less than Rs. 40 Lakhs are exempt from audit requirements in India which makes it beneficial for startups and small business owners to register as LLPs.
Process for online incorporation of LLP in India
The LLP is a novel business idea. A successful incorporation will give you all the benefits of both partnership firm and incorporated entity- its simplicity and limited liability protection respectively – but with tax benefits of an incorporated entity such as a company. To become one, just place your order here. Fill out this quick questionnaire developed by our experts after submission of necessary documents and information we need.
Documents & Information for LLP Registration
An LLP can start its registration process by submitting an application along with certain documents which include documents related to the registered address as well as documents related to the proposed designated partners. These include all of the necessary information and changes that need to be made for the incorporation.
Selection of Name for LLP
Before choosing the name for an LLP, it should be made sure that it will not infringe on any trademarks already registered and name of LLP or Company registered already with ROC
Making of Partners DSC
Digital Signature Certificate (DSC) has been given the same importance as any other certificate for compliance with the IT Act. All documents pertaining to an LLP application must be sent digitally, signed by one of the partners in order to file it at the Registrar of Companies (ROC). From issuing a DSC certificate to signing documents digitally – here are five things you need to know about DSCs.
Name Approval for LLP Registration
When you submit your application for the Name approval of LLP, you’re asked to fill out Form RUN-LLP online. There are two slots to fill with a name in order of preference and an optional explanation why you chose it; one being the proposed company name while the other is just in case they don’t approve.
ROC Filing for LLP Incorporation
After getting approved, the founders need to file an application form called the FILIP Form. This has personal details such as KYC documents and proof of the registered address. They will also submit a Form which they sign, seal and attest it by somebody who is qualified in accountancy or law – a Chartered Accountant, Company Secretary, Cost Accountant or someone who is qualified in law such as an Advocate practising at High Court.
Issue of the Certificate of Incorporation of LLP
You need to apply for LLP registration. After the application form is accepted, you will receive the Certificate of Incorporation which is conclusively proof that you are registered under the LLP Act.
Drafting and vetting of LLP Agreement and Filing to ROC
After registering the partnership, it needs to be confirmed if they have an agreement on a stamp paper of appropriate worth as per the state. The LLP Agreement helps define the rights and obligations of each partner; so this Partnership Agreement should be signed before a notary public. Once it has been properly signed and attested, it can then be filed with ROC in Form -3 within 30 days after incorporation of LLP.
PAN Card & TAN Number for the Limited Liability Partnership (LLP)
The LLP has to complete form 49A and apply for PAN from the Income Tax Department on the same day. Usually, a firm receives its PAN number in about one week after applying online. Then, it will need to inform its TAN number to suppliers that withhold taxes under Tax Deduction at Source (TDS) provisions so they can make payments correctly. It’ll also be necessary to file an annual tax return – this time with those withholding taxes withheld correctly!