Why Limited Liability Partnership (LLP) Company?
Limited Liability Partnership (LLP) company is widely accepted form of company registration in west and is gaining momentum in India as well now. Started in 2008, LLP registration has seen a phenomenal growth from 2011 to 2014. The cost of LLP incorporation is lesser than a Private Limited Company incorporation and compliances are less stringent. Though as far as fund raising is concerned, Pvt Ltd Company has an edge over registered LLP.
Though incorporated LLP (Limited Liability Partnership) Firm is better placed to raise fund than One Person Company. For LLP incorporation, we would be needing 2 DINs and 2 DSC. It also has huge Tax Advantages over Partnership or Proprietorship firms. LLP Registration in Delhi, Mumbai and other cities can be done through MaxBusiness.
It takes about 7-10 working days for LLP Registration Online. The cost of LLP incorporation in Delhi is approx Rs. 7,500/-.
What is included in our LLP registration package?
- DIN for 2 Partners
- Digital Signature For 2 Partners
- Name search & approval
- LLP Agreement
- ROC Fees
- PAN Card
- TAN Number
Procedure for LLP Registration Service
Documents Required For LLP Incorporation?
For Directors
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- PAN Card or Passport (Foreign Nationals & NRIs)
- Aadhar/Voter’s ID/Passport/Driver’s License
- Passport Size Photograph
For Registered Office
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- Latest Bank Statement/Telephone/Mobile/Electricity /Gas/Water Bill
- Copy of Rent agreement (If rented property)
- Copy of Property papers (If owned property)
- Landlord NOC (Format will be provided)
- Your registered office need not be a commercial space; it can be your residence, too.
Advantages of LLP
Liablity
Scared of implication? Don’t Worry! Director’s (Owners) Liability is Limited in case of any defaults in LLP
Ease
Wary of Strict compliance? The compliances and cost is well within your range in case of Registering a business as LLP
Crediblity
Big Corporates wary to do business? More credibility with Clients while doing business as LLP incorporated company
Easy To Close
Didn’t quite work out? No issues! it is simple to close a Limited Liability Partnership Company.
FAQ’S
Q. Are the annual compliances for LLP costlier than other forms of Company Registration?
The cost of annual compliances of LLP is slightly higher than Firms but are cheaper than Private Limited Company. This is mainly due to the difference in government fees.
Q. How difficult it is to shift the registered office of LLP?
The shifting of address of LLP (Limited Liability Company) is fairly simple if it is to done within state but the process is very cumbersome if the address has to be changed to different state and many departments are involved. The cost for Inter state transfer is also very steep.
Q. What is the difference between a LLP Incorporation (Limited Liability Company) and a Private Limited Company Registration Online?
LLP Incorporation has limited liability for Partners whereas a register private limited company is one that offers limited liability to its share holders but places certain restriction on its ownership.
Q. Is it possible to do LLP Registration Online?
Yes, LLP Registration Online is possible but you need a practicing CA to do the same. LLP Registration has been simplified and it takes about 7 working days to get LLP Incorporation in Delhi.
Q. What is the criteria for becoming Director of LLP Registration?
The Director of a New Company Registration has to be an adult i.e. above 18 years of age. There is NO minimum requirement of educational qualification requirement to become director of Private Limited Company/LLP Incorporation/Firm Registration. The only criteria is that person should not be disqualified by government to become Director.
Q.Can a Trademark Registration be taken by LLP Registration?
Yes, Trademark Registration can be taken by a LLP Incorporation and it becomes property of the Private Limited Company. Infact many New Company registration takes Trademark of Logo on their name.
Q. Can a minor become Director of a LLP Registration?
No, the Director of a New Company Registration has to be an adult i.e. above 18 years of age.
Though a minor can have a PAN Card but they cannot become Director of Private Limited Company
Registration/LLP Incorporation/Firm Registration.
Q. What is the duration to incorporate a LLP Registration?
The whole process of forming a LLP Registration in Delhi takes about 20 working days. LLP
Registration takes appx. Vicinity of 20 working days in other states/UT of India. The steps involved in
Incorporation of LLP Registration are Digital Signature/DSC, Name Approval, Deed Drafting,
Company Registration, LLP Incorporation receipt.
Q. What is validity of LLP Registration?
A LLP Registration has lifelong validity once it is registered.
Q. What is Company Registration Fees for new company registration in india?
Company Registration Fees vary for Different Type for Company and it also depends on State of
Incorporation as Government Tax is different in different Taxes. LLP Registration Fees in Delhi is Rs
7,500/-
Q. What are disadvantages of LLP Registration over Private Limited Company Registration?
LLP Registration has few disadvantages over Private Limited Company Registration. First of all, in
pvt ltd registration, you can take funding in different proportion of investment made by the investor
i.e. if you have invested 1 Lac and your investor has invested 9 lacs in Company Registration, both of
you can still own 50 percent each of company unlike a LLP Registration where you can get 10% of the
shares and investor 90%. Also, Income Tax for Pvt Ltd Company Registration is 25% (if revenue less
than 5 Crore) whereas it is 30% for LLP Registration.
Q. Do compliance of LLP Registration needs to be done in first year of New Company Registration?
If you register new company in form of LLP registration before September, all the compliances are
to be done. But if the Register of new company is done on or after September, there is no
compliance to be done in first year of company registration of LLP Registration.
Q. How is GST Registration Online of LLP Registration is done?
New GST registration of a LLP Registration can be done Online. Documents required for the same
is PAN Card, COI, and Cancelled Cheque of llp Registration.
Q. Do the CIBIL report of person also matter to become Director of a LLP Registration?
No. The CIBIL report of Director does not matter to become Director of LLP Registration. Having
said that, it is important for Directors of LLP Registration to have good CIBIL score as they would
need it for getting loans etc.
Q. Can director of LLP Registration resign without consent of other directors?
Resignation of LLP Registration depends on few factors but prima facie if LLP Registration has
more than 2 Directors then director can resign.
Q. Can I provide two mobile numbers in the LLP Registration form?
It is advised that only one mobile number of the authorized representative of the entity is
provided at the time of LLP registration.
Q. How many days takes for the LLP registration?
LLP Registration takes minimum 10 to 15 days or more depend on state roc department.
Q. What are the restrictions in respect of minimum and maximum number of partners in an LLP
registration?
A minimum of two partners will be required for formation of an LLP registration.
Q. What are the qualifications for becoming a partner of a LLP Registration?
Any individual may be a partner in a LLP registration until and unless he has been found to be of
unsound mind by a court or is a minor or has not been de-barred by government to be director of
LLP Registration.
Q. Is it allowed to change registered office of the LLP after registration ?
Yes, A LLP can change its registered office any time after following specified procedure.
The changed address can be situated within the same state or in a different state from the
state in which it was originally registered.
Q. Can a Salaried working person also become a partner in a Limited liability partnership (LLP) registration?
Yes, salaried person can become a partner in a Limited liability partnership (LLP) registration.
Q. How many partners can form an LLP? Is there any maximum limit?
As per LLP registration Act, 2008 a minimum of two partners can incorporate an
Limited Liability Partnership Registration. There is no maximum limit for the partners.
Q. Can I become a partner in a Limited Liability Partnership if I am already in employment?
Yes, there is no such legal constraint in the LLP Act if not restricted by the employment
agreement. All you need to do is check your employment agreement because it may limit
you from becoming a partner in an Limited Liability Partnership during the employment.
Q. Can a Foreign LLP Registration establish a business in India?
Yes by filing Form 27 with the ROC a foreign LLP Registration can establish a business
in India. The form shall include details of Foreign LLP incorporation, designated partners
and minimum two authorized representatives for compliances under Act.
Q. Is it mandatory to register the LLP Agreement with the ROC?
R
Yes. The execution and filing of the LLP Agreement are mandatory under the Act.
