Limited Liability Partnership Registration
Limited Liability Partnership(LLP) is new corporate entity type in India introduced by a way of Limited Liability Partnership Act, 2008. Aimed at both small and medium sized business, LLP has most positive features ofhybrid of both partnership and a company private limited. Considering this attribute, recently most of the entrepreneurs have begunopting for LLP.
Limited Liability Partnership hybridthe advantages of both Partnership and Company into a single form of firm in which one partner is not legally responsible and accountable for negligence or misconduct of another partner. Its managementis defined by LLP agreement and both partnershave the liberty to regulate affairs of the LLP.
The latest trend that has been monitored recently is that most of the entrepreneurs have started choosing for the LLP (Limited Liability Partnerships). It is a legal structure for different businesses. As the name suggests, it limits the liability of its partners. LLP also provides safeguards to each partner from the misdeeds, negligence of the other partners. Hence, it is essential to do Limited Liability Partnership Registration.
Minimum two persons are required for Limited liability partnership registration and there is no restriction regarding extending the maximum number of members. Certain benefits of limited liability partnership, easy maintenance and low registration fee make it more viable to certain businesswho expect more freedom in business to comes at least price.
Advantages of Limited Liability Partnership
When you choose us for the Partnership registration in Delhi, then you can get the following advantages:
Separate Authorized Entity:
LLP is a legal entity. Hence, LLP form of the company has a huge lawful capacity and could own the property. The LLP partners have zero liability to the LLP creditors for debts.
No Need of Audit:
If the LLP has turnover less than 40 Lakhs and contribution of below 25 Lakhs, then it does not need an audit. Therefore, the LLP is perfect for small, medium and startups. We provide partnership registration India for such businesses.
The LLP Registration with us is extremely easy to transfer to one owner to another person. You just need to change the managing partners.
LLP is all about restricting a number of debts. You can also obtain this particular benefit with us. The LLP registration process is very easy if you opt our services. If you need the best reliable services, get in touch with us!
Benefits of LLP
- A Separate legal entity
- Uninterrupted existence irrespective of changes in partners
- Audit is not required of accounts
- Limited liability to partners
- Restrictions as to maximum number of partners not present
- Simple process of registration
- Lesser tax as compared to company
- Owning property
- Easy transferability
- No requirement of minimum capital contribution
STEPS OF REGISTRATION
DPIN and DSC
Apply DPIN (Designated Partner Identification Number) for every proposed Designated Partners (Minimum -2) of the proposed LLP. At least one Designated Partner should have a valid Digital Signature.
Apply for the Name or obtain name approval
Filing of LLP Registration Documents
Documentation and filing of LLP agreement and Consent of Designated Partners
As following these steps are bit complicated and a hassle for new business entity and entrepreneurs, we take all the burden of getting your LLP firm on track while you concentrate more on your business idea.
If you are interested to get into a partnership and want to get the partnership registration in Delhi, then LexOracle will be the best destination for all your partnership solutions. We at LexOracle ensure that you have a hassle-free experience while laying down the foundation of your partnership. We will ensure that our services will enable you to focus on your business rather than worrying about the hassles related to your partnership. You can contact us by giving us a call or you can also drop us a mail. We will get back to you in the least possible time.
Q) Difference between LLP & “traditional partnership firm”?
Q) Difference between LLP & a Company?
FAQs On LLP Agreement
Q) How the mutual rights and duties of partners inter-se and those of partners and LLPs would be governed?
FAQs On Registration
Q) What are the registration formalities relating to LLPs?
Q) How can a person become a partner of an LLP?
Q) What is the manner in which a partner of an LLP can bring his contribution? How will it be recorded/disclosed in the accounts?
FAQs On Partners’s Contribution And Transactions Of Partners With LLP
Q) Whether a partner would be able to transfer his ‘economic rights’?
FAQs On Liability Of Partners
Q) Nature & extent of liability of a partner of an LLP?
Q) Whether other business entities like firm or company would be able to convert themselves into LLP?
FAQs On Conversion Of Other Entities Into LLPs And Vice Versa
Q) Whether LLP would be able to convert itself into company under the Companies Act, 1956?
How it is done?
The procedure for LLP formation and registration is very akin to that of Private Ltd Company formation process. To register a LLP in India, following documents need to be provided:
- Copy Proof of Identity & Address of partner e.g. Adhaar Card, Driving License
- Copy PAN Card of all Partner (Do not have PAN card?don’t worry, we will apply for that as well, we got you covered)
- 6 Passport size photographs of all partners
Steps to get your LLP Registration done in hassle-free manner:-
Step1:- Receive free expert counseling on LLP ( counseling on Share capital, no. of Partners and nature of Business)
Step2:- Pay 50% of the payment
Step3:- Submit the required documents self attested. Application process will start within 24 hours.
Step4:- Pay rest of the 50% at the time of execution & Final submission of documents
Click on apply now and get it done right away!!