This is the Page’s TitleIncorporation of LLP

What is LLP?

The Law defines LLP as:-

“A corporate business vehicle that enables professional expertise and entrepreneurial initiative to combine and operate in flexible, innovative and efficient manner, providing benefits of limited liability while allowing its members the flexibility for organizing their internal structure as a Partnership”

Features of LLP

  1. It has Separate Legal Entity, i.e. the LLP and the partners are distinct from each other.
  2. After that, Minimum of 2 partners are required to form. However, there is no limit on the maximum number of partners.
  3. No requirement of Minimum Capital Contribution.
  4. Last but not least, It does not restrict the benefit of Limited Liability Partnership structure to certain classes of Professional only and would be available for use by any enterprise.

Advantages to form LLP

It is a form of business model which:

  1. is organized and operates on the basis of an agreement.
  2. provides flexibility without imposing detailed legal and procedural requirements.
  3. enables professional/technical expertise and initiative to combine with financial risk taking capacity in an innovative and efficient manner.

Process of Registration as LLP

incorporation of llp

Documents For LLP Registration

Passport size Photograph

Copy of PAN Card

Copy of Aadhaar Card

Copy of Utility Bill

Sale Deed (if owned)

Address Proof of Partners
(Bank Statement / Mobile Bill / Telephone Bill / Gas Bill)

Copy of Rent Agreement (If Rented)

NOC for use of Premises

Process involved in registering a LLP

Step-1

Obtain DSC (Digital Signature Certificate) for the partners.

Step-2

Apply for the DPIN which is necessary to become a partner in the LLP.

Step-3

Apply for the name approval for the LLP registration.

Step-4

ROC issues the Certificate of Incorporation which is the proof for the registration.

Step-5

File for a Permanent Account Number (PAN) and Tax Deduction Account Number (TAN).

Step-6

File LLP agreement to Concerned Registrar of Companies.

Our Pricing

Basic Pack

Rs.7080/-
  • Cap. Contribution upto Rs. 100000/-
  • 2 DPIN
  • 2 DSC
  • Name Approval
  • PAN & TAN
  • Drafting of LLP Agreement
  • GST Registration
  • Certificate of Incorporation
Buy

Advanced Pack

Rs.8850/-
  • Cap. Contribution upto Rs. 500000/-
  • 2 DPIN
  • 2 DSC
  • Name Approval
  • PAN & TAN
  • Drafting of LLP Agreement
  • GST Registration
  • Certificate of Incorporation
Buy

Premium Pack

Rs.12390/-
  • Contribution more than Rs. 500000/-
  • 2 DPIN
  • 2 DSC
  • Name Approval
  • PAN & TAN
  • Drafting of LLP Agreement
  • GST Registration
  • Certificate of Incorporation
Buy

FAQs on incorporation of LLP

How can a person become a partner of LLP?

Persons, who subscribed to the “Incorporation Document” at the time of incorporation, shall be partners of LLP. Subsequent to incorporation, new partners can be admitted in the Limited Liability Partnership as per the conditions and requirements of the LLP Agreement.

Can a NRI become a partner in LLP?

Yes, absolutely provided they have valid documents but, at least one of the partner should be from India and should be residing here.

What is LLP Agreement?

LLP agreement is the agreement which is signed and executed among the partners of LLP. The LLP agreement is to be submitted to ROC for incorporating the same. The agreement is required to be printed on specified amount of stamp paper.

What is minimum number of Partners or maximum number of Partners in LLP ?

Minimum number of partners is 2 and there is no Maximum number of limit.

Is it cheaper LLP as compare to Private limited company?

Yes incorporating a private limited company involves more cost and compliance to be followed under the Companies Act, 2013.

What is Stamp Duty in LLP Agreement?

The stamp duty depends upon the state in which you are executing the agreement. Like in Rajasthan it is 500 and Uttar Pradesh it is 750.

Do I need Commercial Office for the LLP Registration Purpose ?

Not required, you can use your residential address as Registered office purpose for the same.

GST Registration still required after the LLP Registration ?

If your expected turnover cross 20 Lakh rupees in a year then Yes its required but suggest you always go with the GST Registration after the incorporation of LLP. It’s helpful to claim the input tax credit.

What are the mandatory annual compliance for LLP ?

LLP Annual Return or Statement of Accounts are mandatory filing with the Income tax. Audit is not required in case of LLP till the 40 lakh rupees turnover.

What is Capital contribution in LLP?

The Limited Liability Partnership (LLP) is a business entity that provides limited liability to its partners. The partners are allowed to make a capital contribution to the entity, which determines their ownership level in the LLP.

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