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9695963576

9695963576

Limited Liability Partnership (LLP)

Registration of a Limited Liability Partnership (LLP)

LLP model has over the last decade proved to be a simplest way of establishing a business entity providing limited liability to its owners. LLPs are appropriate for professional services firms, such as financial advisories, ad-agencies, and others.

we can help you in…:

  • Obtaining Digital Signature Certificates (DSCs) and Designated Partner Identification Number (DPIN) (Two Each);

  • Registering the Director with the Ministry of Corporate Affairs (MCA);

  • Assisting you Picking up a Unique Name for your LLP;

  • Drafting constitution / LLP Agreement for the business;

  • Getting the Company’s TAN and PAN Issued by the NSDL.

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Understanding the LLP Model

LLP was introduced in India through the Limited Liability Partnership Act 2008 for a primary reason of providing an easy to manage business-model with the included benefits of a limited liability framework to all the partners, thus protecting them within the partnership as well as outside of it, similar to that of shareholders in a Private Limited Company (PLC).

In an LLP model, one partner is not responsible for any neglect or wrong-doing committed by another partner. Unlike in a traditional partnership firm, the partnership collectively is liable for any debt of the LLP and not the partners in their individual capacity.

An easy incorporation process and modest compliance requirements make LLP a favorite option among budding professionals as well as small businesses that were traditionally family-owned enterprises. LLPs are fairly easy to manage and operate, and the 29,400 LLPs registered in India solely in FY 2016-17 are proof enough for the same.

An LLP cannot issue equity shares to raise venture capital. It is, therefore, an ideal framework for enterprises that do not wish to go down that road during its lifespan, and so are relieved from excessive paperwork and compliance.

Key-Advantages of an LLP

  • Distinct Entity

    An LLP is a separate legal entity and, therefore, can own property, incur debts, can sue / be sued, and enjoys various other benefits in its legal capacity. Assets owned by an LLP are solely under its ownership, and no partner can claim those. Additionally, the partners of an LLP are not personally liable to the creditors for the debts entered into by the LLP.

  • Fewer Mandates

    Unlike a PLC, an LLP is much easier and cheaper to operate as there are less annual compliances, making it an appropriate mechanism for start-ups and small businesses that seek minimal compliance and regulatory mandates. Moreover, there is no audit required, if an LLP has less than INR 40 Lacs of turnover and a capital contribution of below INR 25 Lacs.

  • Perpetual Succession

    Until an LLP is legally dissolved, it can enjoy the privileges of an on-going business concern, irrespective of the demise or exit of any partner.

  • No Distinction

    An LLP has partners as its owners and managers, unlike a PLC business model, where directors may be different from its shareholders.

  • Limited Liability

    The partners’ liability in an LLP is limited to the extent of their individual contribution to the business. Moreover, partners’ personal assets are protected from any liability of the LLP, unless any fraud is detected.

  • Easy to Shut-Down

    As compared to the PLC, an LLP is easy to set-up and simpler to wind-up. While it still takes just 2 to 3 months to complete the winding-up process, it can take over a year to shut-down an operational PLC.

  • Agreement Flexibility

    Every Partner in an LLP enjoys a freedom to draft the LLP agreement (to define the roles, authorities, and responsibilities) as per their own preferences.

  • Easy to Transfer

    Since LLP holds a separate identity from that of its partners, the ownership can easily be transferred, just by introducing other partners in the LLP.

Required Documentation Chart

Please reach us at metafiling@gmail.com if you cannot find an answer to your question.

Indian Resident

To be Submitted by Partners

 

  • Self Attested and Scanned copy of PAN Card or Passport
  • Self Attested and Scanned copy of Voter’s ID / Passport / Driver’s License
  • Self Attested and Scanned copy of Latest Bank Statement / Telephone or Mobile Bill / Utility Bills (Electricity / Water / Gas)
  • Scanned passport-sized photograph
  • Specimen signature (blank document with signature)

 

For the Registered Office

 

  • Scanned copy of Latest Bank Statement / Telephone or Mobile Bill / Utility Bills (Electricity / Water / Gas)
  • Scanned copy of Notarized Rental Agreement in English
  • Scanned copy of No-Objection Certificate from the property owner
  • Scanned copy of Sale Deed/Property Deed in English (in case of owned property)

 

Note: Registered office can be a commercial space or even a residence.

To be Submitted by Director

 

  • Notarized and Scanned copy of Passport*
  • Notarized and Scanned copy of Passport / Driver’s License*
  • Notarized and Scanned copy of Latest Bank Statement / Telephone or Mobile Bill / Utility Bills (Electricity / Water / Gas)*
  • Scanned passport-sized photograph
  • Specimen signature (blank document with signature)

 

*Documents to be apostilled if the director is from a Commonwealth country.

For the Registered Office

 

  • Scanned copy of Latest Bank Statement / Telephone or Mobile Bill / Utility Bills (Electricity / Water / Gas)
  • Scanned copy of Notarized Rental Agreement in English
  • Scanned copy of No-Objection Certificate from the property owner
  • Scanned copy of Sale Deed/Property Deed in English (in case of owned property)

 

Note: Registered office can be a commercial space or even a residence.

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  • Seasoned team of our vendor partners can effectively get your LLP registered and timely make it operational… …so that you can manage and control your business, focusing on your mission critical tasks and proudly watching it Grow!
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Pocket-Friendly Options

Basic Package

  • LLP Registration with DSC and DIN
  • LLP Deed Drafting and Name Approval
  • Obtaining PAN and TAN
  • Government Fees for Incorporation
  • (Above price includes all taxes and relevant government fees.)
INR 7899/-

Standard Package

  • LLP Registration with DSC and DIN
  • LLP Deed Drafting and Name Approval
  • Obtaining PAN and TAN
  • Government Fees for Incorporation
  • 2 Months TDS Returns Filing
  • (Above price includes all taxes and relevant government fees.)
INR 12899/-

Premium Package

  • LLP Registration with DSC and DIN
  • LLP Deed Drafting and Name Approval
  • Obtaining PAN and TAN
  • Government Fees for Incorporation
  • 12 Months TDS Returns Filing and Trademark Filing
  • (Above price includes all taxes and relevant government fees.)
INR 15899/-