Limited Liability Partnership – Shaarif & Associates

Service Details

Limited Liability Partnership (LLP) Registration

A limited Liability Partnership is a kind of business structure that provides various liability protection for its owners. In LLP, the one partner is not responsible for another person’s negligence or misconduct. LLP provides many advantages to its owner along with less attentiveness regarding its maintenance. This act was launched in India under the Limited Liability Partnership Act, 2008.

Few are the features of the Company: An LLP is the form of an effective partnership that limits the liability for the partners instead of the other partnerships do. This kind of partnership is the most favourable among the Architects, Accountants, Attorneys, doctors, dentists, and many more. Register LLP is a great opportunity that provides limited liability protection for the owners from the debts of the LLP.

Benefits of Limited Liability Partnership

Our business consulting services focus on four key areas to drive success for your company:

LLP can be started with a very small amount of capital money. Capital might be in the form of tangible, movable assets like machinery or intangible form, or land. Capital requirement in the case of Private Company (Requirements for Registration of a Private Company) and Public Company (Requirements for registration of a Public Company) is Rs. 1,00,000 and Rs. 5,00,000 respectively though no such mandatory capital requirement specified under the LLP.

It is easy to start and manage a business like entrepreneurs because LLP agreements are customised according to the needs of the partners concerned. There are fewer formalities in areas of the annual meetings, legal compilations, resolution as compared to any other Private Limited Company.

The cost of registration of LLP is low as compared to any other company(Public or Private).

LLP might have partners varying from two to many. There is no such kind of limit for partners in LLP. An LLP vital a minimum of 2 partners while there is no limit on the maximum number of partners in contract to a private company.

LLPs do not require the audit of the accounts. Any other company (public or private) are mandated to get their accounts audited by the auditing firm. LLP needs to audit their account in the following situations:-

When the contributions of the LLP exceeds Rs. 25 Lakhs, or
When the annual turnover of the LLP surmount Rs. 40 Lakhs

Requirements for Private Limited Company

Indian Directors

Identity Proof

Aadhar card/Passport / Voter Identity Card / Driving license.

Residential Proof

Bank Statement/Mobile Bill/Telephone Bill/ Electricity Bill

Passport

Not Mandatory

PAN Card

Mandatory

Registered Office Proof

Electricity bill/ Gas bill

Limited Liability Partnership Registration Process :

The very first step that comes under the process of registration is to enroll for the DSC of the designated partners of the proposed LLP. The process of LLP Registration Online needs DSC specifically, to ensure the documents are digitally signed. So, get the DSC from the government-approved certifying agencies.

After getting the DSC now it’s time to enroll for DPIN and DIN for the proposed partners of the LLP and file the form which needs to be signed by a Company Secretary in full-time employment of the company or by the Director, CEO, or Managing Director of the existing company in which the candidate is positioned as a director.

The LLP-RUN which is Limited Liability Partnership – Reserve Unique Name needs to register for the reservation of the name of the proposed LLP.

To apply for Company Incorporation, Spice+ Form has to be filed and submitted on the MCA portal. It generally takes 3-4 days to form a Private limited company and get an incorporation certificate. This certificate includes a CIN number and it is proof that the company has been incorporated.

After the approval of the form, Incorporation Certificate will be provided by the MCA which shows the company is formed.

The next step is to apply for PAN and TAN. These can be received within 7 working days. You can submit MOA,PAN, AOA and the incorporation certificate to the bank to open your bank account.

The agreement includes the mutual rights and duties between the LLP and its partners. It must be registered in Form 3 which has to be filled in the duration of 30 days of the date of incorporation.

FAQs

Once a company is registered, can we add directors in the Company?

Yes, we can add directors post incorporation of company after taking approval from ROC.

Can a foreigner be a Director in a Private Limited Company?

Yes, a foreign individual can become director of the company by submitting his apostille and notarised documents to ROC

Once the company is registered, what other requirements need to be fulfilled?

After the registration of the company, the below requirements need to be fulfilled:- The current account needs to be opened within 30 days of PAN Registration. The paid-up capital amount should be deposited which was mentioned at the time of registration Allot and issue shares

Can a Private Limited Company carry out multiple businesses?

If it is mentioned in the MoA and approved by the registrar of the company, then yes it is possible to carry out multiple businesses.

Which cities do you provide Company Incorporation facilities?

We are famous among a large number of people due to our excellent incorporation services. You will get your Private Limited Company Registration at PAN INDIA at an economical price.