Ideal business structure for Small and Medium sized Enterprises going for Partnership
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A Limited Liability Partnership (LLP) is an alternative corporate business structure that provides the advantage of limited liability to its partners while maintaining low compliance costs. It allows partners to structure their internal operations similarly to a traditional partnership. An LLP is a separate legal entity, responsible for its assets, while the liability of the individual partners is limited. As a result, an LLP combines elements of both a company and a partnership.
You are required to place the Enquiry and fill your details in our simple questionnaire
You can submit the documents by email or whatsapp and we will verify the same
Obtain DSC and DIN (Director Identification Number) for OPC
We will verify the documents and then we shall apply for LLP Name approval
We will create all the documents (MOA and AOA) and file them with ROC
We will make application of PAN And TAN with NSDL
OTo incorporate a Limited Liability Partnership, a minimum of two people are required. A Limited Liability Partnership must have a minimum of two Partners and can have a maximum of any number of Partners.
Any individual/organisation can become the partner in LLP including foreigners/NRI. However, the individual must 18+ above in terms of age and should have a valid PAN card.
You can start a Limited Liability Partnership with any amount of capital. There is no requirement to show proof of capital invested during the incorporation process. Partner's contribution may consist of both tangible and/or intangible property and any other benefit to the LLP.
An address in India where the registered office of the LLP will be situated is required. The premises can be a commercial / industrial / residential where communication from the MCA will be received.
LLPs are required to file an annual filing with the Registrar each year. However, if the LLP has a turnover of less than Rs.40 lakhs and/or has a capital contribution of less than Rs.25 lakhs, the financial statements do not have to be audited.
No, you can’t convert your LLP into a Private Limited Company as it is not MCA. Both the LLP Act, 2008 and the Companies Act, 2013 don’t have any provisions on conversion of LLP in a private limited company. However, if you want to expand your business you can register a new Private Limited Company with the same name as that of the LLP. The LLP company just needs to issue a no objection certificate.