All about Limited Liability Partnership
Limited Liability Partnership(LLP) was evolved in the year 2008. Unlike normal partnership this is very different because in this liability of partners are limited towards their share. The LLP is a separate legal entity, is liable to the full extent of its assets but liability of the partners is limited to their agreed contribution in the LLP. A minimum of two partners will be required for formation of an LLP. There will not be any limit to the maximum number of partners whereas in partnership it is 20.
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Corporate Genie Plans
Basic Plan
Rs 4949
- Registeration of a LLP with Ministry of Corporate affairs
- LLPIN
- PAN
- TAN
- MCA processing
- FiLLiP
- LLP Agreement
- Form-3
- Allotment of Two DPIN
- GST Registration
Smart Plan
Rs 14949
- Registeration of a LLP with Ministry of Corporate affairs
- LLPIN
- PAN
- TAN
- MCA processing
- FiLLiP
- LLP Agreement
- Form-3
- Allotment of Two DPIN
- GST Registration
- Income Tax Return Filing
- Form 11 (Annual Return of LLP)
- Form 8 (Statement of Accounts) and DIR-3 eKYC of Directors
Mega Plan
Rs 23949
- Registeration of a LLP with Ministry of Corporate affairs
- LLPIN
- PAN
- TAN
- MCA processing
- FiLLiP
- LLP Agreement
- Form-3
- Allotment of Two DPIN
- GST Registration
- Preparation of Financial Statements
- One Trademark Application
- Income Tax Return Filing
- Form 11 (Annual Return of LLP)
- Form 8 (Statement of Accounts)
- GST return filling for Twelve months and DIR-3 eKYC of Directors
Corporate Genie
Documents required to form LLP
Copy of ID Proof of Designated Partners. (Voter ID, Driving License, Passport)
Copy of Address Proof of Designated Partners (Bank Statement/ Electricity bill/ Mobile bill/ Telephone Bill)
Passport size Photographs of Designated Partners.
Copy of PAN of Designated Partners.
Digital Signature Certificate of all the Designated Partners
DIN of all the Designated Partners
Property Ownership Documents of Registered office premises:
If property is owned: Electricity bill + Ownership Documents + NOC (if required)
If property is rented: Electricity bill + Rent Agreement + NOC
If property is owned: Electricity bill + Ownership Documents + NOC (if required)
If property is rented: Electricity bill + Rent Agreement + NOC
Apart from all these documents, Some other required documents will be prepared by your Corporate Professional i.e. CA/CS for submission to ROC.
Some of the advantage of LLP over Partnership
There is more flexibility in LLP.
No maximum limit for choosing partnership.
Raising and utilization of funds depends on the partners will. Funds can be bought and utilized only as per the norms listed under the Companies Act, 2013.
Feels like company.
Corporate Genie
Process to obtain registration
Fill the required details in the form.
Make payment.
Expert will ask for necessary documents.
We will apply for DSC & the DIN Number for Director.
Draft will be prepared for necessary documents like Consent, MOA & AOA.
All the documents will be submitted to ROC.
As when ROC approves application for Certificate of Business Commencement will be processed.
FAQ
The first step is name reservation by filing e-Form 1, for ascertaining availability and reservation of the name of a LLP business.
The second step is to file incorporation in e-Form 2 which contain details of LLP proposed to be incorporated, partners’/ designated partners’ details and consent of the partners/ designated partners to act as partners/ designated partners.
The third step is Execution of LLP Agreement is mandatory as per Section 23 of the Act. LLP Agreement is required to be filed with the registrar in eForm 3 within 30 days of incorporation of LLP.
The second step is to file incorporation in e-Form 2 which contain details of LLP proposed to be incorporated, partners’/ designated partners’ details and consent of the partners/ designated partners to act as partners/ designated partners.
The third step is Execution of LLP Agreement is mandatory as per Section 23 of the Act. LLP Agreement is required to be filed with the registrar in eForm 3 within 30 days of incorporation of LLP.
Yes, any existing private company or existing unlisted public company can be converted into LLP by complying with the Provisions of clause 58 and Schedule III and IV of the LLP Act.
No, name of the LLP shall end with either ‘Limited Liability Partnership’ or ‘LLP’.
Appointment of at least two “Designated Partners” shall be mandatory for all LLPs. “Designated Partners” shall also be accountable for regulatory and legal compliances, besides their liability as ‘partners, per-se”.
Comparison
Private Limited Company | One Person Company | Limited Liability Partnership | Partnership Firm | Proprietorship Firm | |
---|---|---|---|---|---|
Act | Companies Act, 2013 | Companies Act, 2013 | Limited Liability Partnership Act, 2008 | Indian Partnership Act,1932 | No specified Act |
Registration Requirement | Mandatory | Mandatory | Mandatory | Optional | No |
Number of members | 2 – 200 | Only 1 | 2 – Unlimited | 2 – 50 | Only 1 |
Number of Director/Partner | 2 – 15 | Only 1 | 2 – Unlimited | 2 – Unlimited | Only 1 |
Separate Legal Entity | Yes | Yes | Yes | No | No |
Liability Protection | Limited | Limited | Limited | Unlimited | Unlimited |
Statutory Audit | Mandatory | Mandatory | Dependent | Not mandatory | Not mandatory |
Ownership Transfer ability | Yes | No | Yes | No | No |
Uninterrupted Existence | Act | Act | Act | Act | Act |
Foreign Participation | Allowed | Not Allowed | Allowed | Not Allowed | Not Allowed |
Tax Rates | Moderate | Moderate | High | High | Low |
Statutory Compliance | High | Moderate | Moderate | Less | Less |
Our Service Areas
- LLP Registration in Noida
- LLP Registration in Gurgaon
- LLP Registration in Delhi
- LLP Registration Online in Noida
- LLP Registration Online in Gurgaon
- LLP Company Registration in Delhi
- LLP Registration Online in Delhi
- LLP Incorporation in Noida
- LLP Incorporation in Gurgaon
- LLP Incorporation in Delhi
- LLP Company Registration in Noida
- LLP Company Registration in Gurgaon