LIMITED LIABILITY (LLP)

What is LLP or Limited Liability Partnership ?

LLP is a separate legal entity that gives the benefit of limited liability of company plus the flexibility of partnership, wherein no partner is held liable on account of other’s partner misconduct and their rights and duties to be governed by LLP agreement. Limited Liability Partnership has been introduced in India by way of Limited Liability Partnership Act, 2008. The basic premise behind the introduction of Limited Liability Partnership (LLP) is to provide a form of business organization that is simple to maintain while at the same time providing limited liability to the owners.

What is LLP Registration ?

LLP refers to Limited liability partnership and is governed by Limited Liability Partnership Act 2008. Limited Liability partnership provides advantage of limited liability to its owners and at the same time requires minimal maintenance. The directors of a private limited company have limited liability to creditors. In case of default, banks / creditors can only sell company’s assets and not personal assets of directors.
LLP Registration can be done through LegalRaasta in Delhi NCR, Mumbai, Bengaluru, Chennai and all other Indian cities.

Choose LLP 

  • Dual advantages- Company and a Partnership.
  • No partner will be responsible for other partner’s misconduct.
  • Cheaper to incorporate than a private limited company.
  • Limits the liabilities of its partners.

 

LLP Registration Package?

  • DPIN for 2 Partners
  • Digital Signature For 2 Partners.
  • Name search & approval
  • LLP Agreement
  • ROC Fees & Pan Card
  • Free accounting software & GST filing

 

LLP Registration

  • Ideal business structure for Small and Medium-sized Enterprises going for Partnership
  • Starting At Rs. 8,619 Onwards
  • SAVE 60% COST..!!!                                  (Takes 10-20 days)

 GST SUVIDHA KENDRA

let's know more about SERVICES

Want to become our channel partner?

SUBMIT YOUR APPLICATION

Procedure For LLP Registration

Complete our Simple Form
You need to fill our simple company registration form and submit documents for formation of a company.
Obtain DSC and DPIN from us
After submitting your documents we will provide you with DSC and DPIN.
Verification and Name Approval
Details provided by you will be verified and then we shall apply for name approval.
Document Submission
We will create all the required documents and file them with ROC on your behalf.
Your work is completed
Once your company is incorporated, we shall send you all the documents and DSCs.

Steps Involved in LLP Registration

Application of DSC & DPIN

Our very first step in this direction would be getting Digital Signature Certificate (DSC) and Designated Partner Identification Number (DPIN) for the proposed Partners of the LLP. Within a timeframe of 5 to 7 working days DPIN and DSC can be obtained for the proposed Partners. If the partners already have DSC and DPIN, then this step can be skipped.

Name approval

A minimum of one and a maximum of six proposed names are required to be given to the MCA. Subject to availability, naming guidelines and MCA processing time, we will get back to you with the Name approval within 5 to 7 working days. Names provided should ideally be unique and suggestive of company business.

MOA & AOA submission

Once name is approved, one needs to draft Memorandum of association and Articles of Associate. Both MOA and AOA are filed with the MCA with the subscription statement.

Get incorporation certificate

Incorporation documents can be submitted to the MCA along with an application for incorporation. MCA will usually approve the application for incorporation in 5 to 7 days, subject to their processing time. Incorporation certification is a proof that company has been creation. It also includes your CIN number.

Apply for PAN, TAN and Bank account

Then you need to apply for PAN and TAN. PAN and TAN are received in 7 working days. Post this, you can submit the Incorporation certificate, MOA, AOA and PAN with a bank to open your bank account.

 Advantages of  LLP

Separate Legal Entity
A LLP is a legal entity and a juristic person established under the Act. The partners are distinct from the entity and both can sue each other and get  sued in the process.
Uninterrupted Existence
An LLP has ‘perpetual succession’, that is continued existence until it is brought on the terms of the dissolution by mutual agreement within the partners. Partners may come and go, but an LLP goes on.
Audit not Required
Entrepreneurs earning a turnover of less than 40 Lakhs and a capital contribution of less than 25 Lakh need not get their accounts audited. Therefore, LLPs are ideal for startups and small businesses that are just starting their operations and want to have minimal regulatory compliance related formalities.
Easy Transferability
The ownership of a LLP can be easily transferred to another person. All you need is to induct them as a Designated Partner of the LLP. LLP is a separate legal entity separate from its Managing Partners, so by changing the Managing Partners, the ownership of the LLP can be changed.
Owning Property
An LLP being a juristic person, can acquire, own and enjoy property in its own name. And this is entirely distinct from its partners. No Partner can make any claim upon the property of the LLP so long as the LLP is a going concern.
Limited Liability
The biggest advantage is Limited Liability, which means the status of being legally responsible only to a limited amount for debts of an LLP. Unlike proprietorships and partnerships, in an LLP the liability of the members in respect of the LLP’s debts is limited. The personal assets of the directors are safe if the company goes bankrupt. So it’s entirely a win-win situation for you if you plan to step to head forward with a suffix LLP.
  • Copy of PAN Card of partners
  • Passport size photograph of partners
  • Copy of Aadhaar Card/ Voter identity card
  • Copy of Rent agreement (If rented property)

Documents

Required For

LLP Registration

  • Electricity/ Water bill (Business Place)
  • Copy of Property papers (If owned property)
  • Landlord NOC (Format will be provided)

ABOUT

MK Technology

Our Company is the E-Suvidha Kendra Provider Company which work on, Online Services including Online Government and Private Services

Important Link

Contact Us

MK TECHNOLOGY, Govinda Gourkhede Complex, Seminary Hills, Nagpur, Maharashtra 440006

support@mktechnology.in

prashant.taxsolution@gmail.com