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Limited liability Partnership

Dream unlimited with limited risks.

Create an LLP for simple procedural requirements & limited liability.

Build the foundation of your business.

Limit your liability in the difficult times.

Benefits

Power of a company, flexibility of a partnership.

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Procedure

Online procedure, further simplified by LawDocs.

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Documents required

Just a few, limited paper formalities.

To Be Submitted By Partners

For The Registered Office

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Why LawDocs?

Simplified solutions with equity, equality.

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Prices start with 6499/- (inclusive all)

FAQs

A LLP is a partnership in which partners have limited liabilities. In an LLP one partner is not liable for another partner’s misconduct or negligence. This is the biggest advantage of an LLP over a traditional partnership firm. LLP form of organization is usually preferred by Professionals, Micro and Small businesses that are family owned or closely-held.

There are having minimum 2 partners and minimum 2 designated partners. Minimum Paid up share Capital is Rs. 1 Lakh.

  • Name of LLP
  • Objects of LLP
  • Number of Partners
  • Number of Designated Partners
  • Amount of Capital
  • Ratio of Contribution of Capital

LLP registration procedure is a transparent process as it has a blend of the benefits of a company and partnership firm namely, limited liability feature of a company and the flexibility of a Partnership firm. LLP registration process includes following steps:

  • Appoint partners and designated partners,
  • Obtain the DPINs and Digital Signature Certificates (DSCs),
  • Register a unique LLP name (applicant can indicate up to 6 choices),
  • Draft the LLP Agreement,
  • File the required documents electronically, and
  • Apply for the Certificate of Incorporation along with LLPIN (Limited Liability PartnershipIdentification Number)

The mutual rights and duties of partners shall be governed by the agreement between LLP and the partners. This Agreement would be known as “LLP Agreement”. An LLP agreement usually consists of management policies, inclusion of new partners, policy making strategies, and so on.

Yes, any existing private company or unlisted public company or a partnership firm can be converted into LLP by complying with the Provisions of the LLP Act.

LLP have option to declare one more address (other than the registered office) for getting statutory notices/letters etc. from Registrar.

Persons, who have subscribed the “Incorporation Document” at the time of incorporation of LLP, shall be partners of LLP. Subsequent to incorporation, new partners can be admitted to the LLP as per conditions and requirements of LLP Agreement.

Yes. Every LLP would be required to file Annual Return with ROC.

Any individual (including NRI), or even a company or an LLP can become a partner in an LLP. However, only an individual can become a ‘designated partner’ in an LLP.

Yes, non-resident Indians and foreign nationals who are willing to enter into an LLP partnership can do so. They submit the necessary documents after getting it notarized by the concerned authorities. Although, at least one designated partners in an LLP should be an Indian national.

Any group of persons who want to invest money in a business can start an LLP. A person or an investor can become a partner, according to the LLP agreement. Also, the investors/partners are owners of the business started under the LLP agreement.

Typically, only start-ups that will not be looking for venture capital funding register for LLPs. This is because venture capitalists only invest in public and private limited companies.

Yes, LLP are much cheaper than a private limited company, particularly in your early start-up days. This is because much compliance, such as audit, applies to LLPs only after their turnover is sizeable. Most LLPs spend about half as much as a private limited company.

Get assistance.

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