Limited Liability Partnership Registration in India
A Limited Liability Partnership (LLP) is a legal structure for a business that combines elements of partnerships and corporations. In an LLP, partners have limited liability, which means they are not personally liable for the debts and obligations of the partnership beyond their investment in the business. This provides protection for the personal assets of the partners.
Here are some details about Limited Liability Partnership Registration in India to get you started.
Benefits of Limited Liability Partnership Registration in India
Provides limited liability protection to partners, ensuring personal assets are not at risk for business debts.
LLP has a distinct legal identity, separate from its partners, enabling perpetual succession.
Partners can manage the business directly, allowing for more flexibility in decision-making.
No mandatory requirement for minimum capital contribution, reducing financial barriers to entry.
Taxed as a partnership, avoiding double taxation while enjoying tax benefits available to partnerships.
Partnerships interests can be easily transferred to other individuals, facilitating changes in ownership.
Steps & Process of Limited Liability Partnership Registration in India
1. Obtain Digital Signature Certificate (DSC)
2. Apply for Designated Partner Identification Number (DPIN)
3. Name Approval
4. Drafting of LLP Agreement
5. Filing of Incorporation Documents
6. Payment of Fees
7. Certificate of Incorporation
8. PAN and TAN Application
9. Post-Incorporation Formalities
Document Requirements for LLP
📌 Identity and address proof of partners
📌 Proof of registered office address
📌 LLP Agreement
📌 Digital Signature
Certificate (DSC) of partners
📌 Designated Partner Identification Number (DPIN) of partners
📌 NOC from the landlord (if the premises are rented)
📌 Consent of partners
📌 Declaration of compliance
📌 GST Registration (if applicable)
Deliverables of LLP Registration in India
✨ Certificate of Incorporation
✨ LLP Agreement
✨ PAN Card
✨ TAN Certificate
✨ Incorporation Kit (including LLP seal and statutory registers)
FAQ's
Yes, an LLP can be converted into a private limited company by following the prescribed procedures for conversion as per the Companies Act, 2013.
No, there is no restriction on the maximum number of partners in an LLP. However, at least two partners are required to form an LLP.
Yes, an LLP can have foreign partners, subject to the fulfillment of prescribed requirements and compliance with foreign exchange laws.
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