Easily Register a LLP

Limited Liability Partnership (LLP) is an excellent way to offer protection to Entrepreneurs venturing into partnership. In LLP one partner of the company is not liable or responsible for another partners misconduct. A Limited Liability Partnership is also ideal for small businesses.

How it Works

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Expert Discussion

Expert Discussion

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Work Completed

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Your LLP Incoporation Certificate is ready

What is a

Limited Liabilities Partnership firm?

A Limited Liability Partnership (LLP) is a partnership wherein some or all of the partners (depending on jurisdiction) have limited liabilities. It can therefore display the elements of partnerships and companies.

The notion of Limited Liability Partnership (LLP) was implemented in India by means of the Limited Liability Partnership Act, 2008.

A start up registration in a Limited Liabilities Partnership in India is recommended for small and medium sized corporations. The tax rate for LLP is 30%.

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Compliance for LLP

Limited Liabilities Partnership Vs Partnership

The greatest distinction between a partnership and a limited liability partnership is with regard to personal liability. For partnerships, each partner is personally liable for all of the partnership's debts. LLPs, on the other hand, primarily ensure that partners are not liable for the actions of other partners.

Limited Liability Partnership Company features

The features of LLP can be stated as:

LLP Documents required

ID proof

Indian Citizen- Voter ID/ Driving License/ Passport
Foreign Nationals- Passport

PAN Card and Aadhaar Card
Address Proof

Bank Statement/ Electricity Bill/ Mobile Bill

Registered office address proof

Electricity Bill / Rent Agreement

LLP registration process

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Limited Liability Partnership Proprietorship Partnership Private Limited Companies One Person Company
Registration Registered with MCA No formal Registration Optional Registered with MCA Registered with MCA
Minimum Members Two person One person Two person Two person Two person - One Director, One Nominee
Maximum members Unlimited One person Twenty Two Hundred Two person - One Director, One Nominee
Foreign Ownership Allowed Not allowed Not allowed Allowed Not allowed
Perpetual Existence Yes No No Yes Yes
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FAQs (Frequently Asked Questions)

What is the eligibility of designated partners/partners in an LLP?

At least one of the Designated Partners must belong to India. An individual may be nominated as a Designated Partner by the LLP Corporate Partner Body.

What are the annual compliances for LLP?
Compliance for LLP:
  • A separate legal entity
  • Abilities to open a bank account
  • Abilities to sue and be sued
  • Abilities to employ people
What kind of start-ups commonly register for LLPs?

Usually, only start-ups that are not eligible for the LLPs Venture Capital Funding List. This is because venture capitalists invest only in private and public limited companies.

Can an existing partnership firm or company be converted to LLP?

Yes, an existing relationship may be transformed into a LLP by complying with the terms of section 58 and Schedule II of the LLP Act. For such conversion and incorporation of LLP, Form 17 must be filed.

Can NRIs/Foreign nationals can be designated partners in LLP?

Any non-resident Indian or foreign national may invest in LLP by appointment as a partner or designated partner. There is no prescribed limit on the infusion of capital by the partners or the number of partners in this category.

What are the compliances related to change in partner?

Supplementary LLP Agreement is to be filed e-form 3 with ROC within 30 days with charges due to modification of the joint rights and duties of the partners and Form 4 shall include a declaration signed by the new partner that he consents to be a partner.

Is it allowed to change registered office of the LLP after registration?

A limited liability partnership may alter its registered office from one location to another by following the protocol laid down in the Limited Liability Partnership Agreement.

Location
Address

Office No.3, 1st Floor, C-23, Sector-63, Noida, U.P 201301

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