Register Your Limited Liability Partnership firm with Bizhub
Limited Liability Partnerships (LLPs) are flexible and legal that allows partners to benefit from economies of scale while also reducing their liability.
Digital Signature Certificates
LLP Registration in India has become an alternative form of business that provides the advantages of a Company and the flexibility of a Partnership firm into a single organization. The Concept of LLP in India was introduced back in 2008 by the Limited Liability Partnership Act of 2008. This unique hybrid is suitable for setting small, medium-sized businesses.
It is very easy to manage and incorporate a Limited Liability Partnership in India. To register an LLP minimum of two partners are required, there is no upper limit as such. The LLP agreement states the rights and the duties of the Partners. In an LLP one partner is not responsible for the misconduct and negligence of the other partner. The partners are responsible for the compliances and all the provisions that are specified in the LLP agreement.
Why an LLP?
A typical partnership form of the business suffers from the problem of unlimited liability. Liabilities of partners of a firm extend right up to their personal assets. This makes regular partnerships undesirable for a lot of entrepreneurs. One solution for this issue exists in the form of Limited Liability Partnerships, better known as LLP.
LLP has all basic features of a regular partnership firm, except that of same legal entity status and unlimited liability of partners. Consequently, limited liability partnerships have legal existence and identity separate from that of its partners. Furthermore, its partners have limited liabilities.
How to register your LLP with BizHub?
The whole process to get an LLP registered in India with BizHub is very easy. You need to follow these 10 steps.
Checklist for registering an LLP in India
- A minimum of two partners are required
- The Digital Signature Certificate is required for all designated partners
- DPIN for all designated Partners.
- The name of the LLP should be such that it is not similar to the name of any existing LLP or Trademark registration
- Capital contribution by the Partners of the LLP
- LLP Agreement between the Partners.
- Proof of registered office of the LLP.
Documents required to register an LLP in India
For registering an LLP in India following documents are required. We at BizHub carry on LLP registration.
For the Partners
Registered office proof
Advantages of LLP registration in India
There are several reasons why people opt for LLP registration in India over Private Limited Company incorporation. LLPs are considered to be easier to set up and flexible form of business. Entrepreneurs find it feasible to start their organization as it is comparatively hassle-free in day-to-day operations. Here, we take a look at the various advantages of LLPs.
FAQs On LLP Formation
Yes, an existing partnership firm can be converted into LLP by complying with the Provisions of the LLP Act.
Pvt. Ltd. Co. and LLP have a lot of similarities yet they both are different in many of its characteristics and structures. When you wish to start your business, there are many factors that one needs to think upon before selecting any business structures. However, before selecting any business structure, you may refer LLP vs Pvt Ltd- A comparison between two important forms of organization in India.
Yes, any existing private company or existing unlisted public company can be converted into LLP by complying with the Provisions of the LLP Act.
LLP shall have an option to declare one more address within the jurisdiction of same ROC (other than the registered office) for getting statutory notices/letters etc. from Registrar.
A Limited Liability Partnership is a legal entity separate from its partners and therefore, offers limited liability to its partners whereby any debts and obligations of the LLP will be borne by the assets of the LLP. In the case of a conventional partnership, the partners are jointly and severally liable for each debt and obligation of the partnership firm.
Persons, who subscribed to 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.
Every LLP would be required to file Annual Return with ROC. A duly authenticated Annual Return in e- Form-11, is to be filed with the Registrar, together with the prescribed fee, within a period of 60 days from the closure of every financial year.
LLP is required to file LLP annual returns as follows:
LLP Form 8 (Statement of Account & Solvency) and LLP Form 11 (Annual Return) annually. The ‘Annual Return’ is required to be filed within 60 days of close of the financial year and ‘Statement of Accounts & Solvency’ shall be filed within 30 days from the end of six months of the financial year to which it relates. Every LLP has to maintain uniform financial year ending on 31st March of a year.
File LLP Form No. 1 (Application for reservation or change of name) by logging on to the LLP portal along with the fee prescribed and attaching the digital signature of the designated partner proposing to incorporate a LLP.
BizHub provides Limited Liability Partnership Registration all across India. You can obtain LLP Company Registration in Ahmedabad, Mumbai, Pune, Bangalore, Chennai, Delhi, Kolkata, Kanpur, Nagpur, Jaipur or any other cities easily with us.
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