It is a recognized form of the business organization throughout the world unanimously. It is a new age business governed by Limited Liability Partnership Act, 2008; it is the combination of the advantages of company and partnership into a single organization.
LLP is one of the easiest forms of business to incorporate, manage and control in India. It is highly preferred by the professionals, corporate entities, and MSME.
Being a company is not able to issue equity shares. However, unlike corporate shareholders, the partners have the right to manage the business directly.
PROCESSING TIME:
The average time is taken to complete an LLP registration within 20 To 40 working days, subject to government processing time and prompt document submission by the client.
Reasons to register an LLP:
- Separate Legal entity
- Perpetual Succession
- Easy Transferability
- Audit requires only when it meets the prescribed limit
DOCUMENTS REQUIRED FOR LLP:
INDIAN NATIONALS:
- ID PROOF:
Copy of PAN card
- ADDRESS PROOF:
Passport, Driving License, Aadhar, Bank Statement or Electricity bill
Two documents must be valid and it is not more than the period of 45 days
- Register Office in India Proof:
Rental Agreement/ Sale Deed and Electricity bill and Tax Receipt. Also, No Objection Letter (NOL) from Landlord for use of premises as Registered Office
- Attested Incorporation Documents:
Attested copy of Digital Certificate application and other incorporation documents.
FOREIGN NATIONALS:
- ID PROOF:
Passport
- ADDRESS PROOF:
Passport, Driving License, Bank Statement or Electricity bill
Two documents must be valid and it is not more than the period of 45 days
- Register Office in India Proof:
Any Government license / Documents containing Name in full, Photo and Date of Birth
The above documents to be attested/certified by Indian Embassy/ Relevant constitute of the Particular Country
It Includes:
Designated Partners Identification Number (DPIN)
Digital Signature Certificate (DSC)
Name Approval
LLP Agreement Drafting
Preparation of Other Documents and declaration required for incorporation
ROC and Government Registration Fees
Government Stamp duty Fees
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