Limited Liability Partnership (LLP) Registration
Ideal business structure for Small and Medium-sized
Enterprises going for Partnership
Starting At Rs. 6,999 Onwards
(Takes 15-30 days)
LLP Registration Online
How To Register An LLP Company Online
You can operate your business under a Limited Liability Partnership in India online. We hold immense knowledge and expertise in LLP registration and help you in the following ways.
LLP Registration Online
Limited Liability Partnership (LLP)
LLP was started in India by the method of the Limited Liability Partnership Act, 2008. The main edge of a Limited Liability Partnership is one partner is not responsible for another partner’s misconduct or disregard. LLP is preferred by experts, Micro and Small businesses that are family-owned or closely-held.
Limited Liability partnership provides the advantage of limited liability to its proprietors and at the same time needs essential care. The proprietors of a private limited company have limited responsibility to creditors. In case of failure, banks/creditors can just sell the organization’s assets and not the individual assets of directors
An LLP also offers limited liability care for the proprietors from the debts of the LLP. Accordingly, all partners in an LLP enjoy a type of limited liability safety for every individual’s protection within the partnership, regards to that of the investors of a private limited company.
LLP Registration can be done by LegalRaahi in Delhi NCR, Bengaluru, Mumbai, Chennai, and all other Indian cities.
Choose LLP because
- Double benefits- Company and a Partnership
- Limits the liabilities of its partners
- No partner will be liable for other partner’s misbehave
- Cheaper to incorporate than a private limited company
Factors to Consider While Selecting an LLP Name
The Registrar of Companies (RoC) has issued naming rules for LLPs. You should keep the standards intently or your application may wind up getting dismissed, prompting a much longer procedure.
The name of your LLP Company should be connected to your business. It must suit the organization’s marking. For instance, Lilliput implies small the Lilliput is a kid’s clothing brand.
Short & Simple
The name of LLP must be short and not be excessively long. Simple elocution for individuals and they can remember the company name from the start go.
The name of your company should not be indistinguishable or the same as a current company, business, or trademark. You can go to search.legalraahi.com to confirm if your company name is equivalent to others. You should stay away from plural variants e.g., “Amazon’s” or changing simply letter Case, spacing, or punctuation marks checks in a current company name.
Abstracts, adjectives, and generic words are denied. As it would have Good Quality Biscuits, So XYZ would be denied. The words bank, trade, and stock exchange would likewise be denied.
No same Trademarks
There should not be an affirmed Trademark by the indistinguishable name on the IP India website. In the case, if there is 1, the name can simply be affirmed if you can get a NOC from its proprietor approving, you to utilize it then as it were.
The name of your LLP Company must finish with the suffix “LLP” is an instance of a limited liability partnership
This implies the word” research” is a logical word utilized in a company name of research it very well may be utilized in specialized business, the company’s name. You can’t utilize them in the name of the food chain as it is doesn’t identify with it.
Should not be illegal or offensive
While getting an LLP name make ensure you don’t conflict against the law. It should not be abusive or against the traditions and convictions of any religion and doesn’t harm anyone’s respect.
Why choose LLP Registration?
- It has a different legal entity, not at all like partnership firms.
- The liability and duty of each accomplice are limited to the commitment made by the partner.
- An LLP has a ‘never-ending progression’ that is broadened endurance until it is brought into end by shared agreement between the partners.
- The expenditure on establishing an LLP is low.
- Audit not required as LLPs are medium and independent companies that need to have insignificant regulatory compliance connected to conventions.
- Less agreement and guidelines in the formation of LLP.
- No terms for least capital commitment.
- The responsibility of an LLP can be effortlessly moved to someone else. All you require is to select them as a Designated Partner of the LLP.
The least number of partners to join an LLP is 2 and the greatest has no restriction. The force and duties of assigned accomplices are managed by the LLP agreement. They are straight responsible for the consistency of all the considerable number of arrangements of the LLP Act 2008 and terms characterized in the LLP agreement.
Important forms in LLP Registration
- RUN – LLP Reserve Unique Name-Limited Liability Partnership- A form for reserving a name for the LLP
- FiLLiP – A Form for incorporation of LLP
- Form 5- Notice for change of name
- Form 17- Application and statement for the conversion of a firm into LLP
- Form 18- Application and Statement for conversion of a private company or unlisted public company into LLP
What are the Compliance Requirements after an LLP Company Registration in India?
When Limited Liability company enrollment is done the recently incorporated LLP is relied upon to get done with the following compliances. These compliances are one time in nature and are not rehashed.
1. Partnership Agreement Filing
2. Apply for PAN & TAN
3. Open Bank Account
Annual Compliances Requirements after the LLP Registration
After the completion of the formation procedure, LLP is relied upon to comply with the yearly consistent necessities. In the event that the quantity of exchanges after the LLP enlistment is 0, at that point, LLP will record NIL return.
The following returns are relied upon to be enlisted:
1. Statement of Account & Solvency
2. LLP Annual Return
3. Income Tax Return
Concerns Related To Private Limited Company
There are essentially 2 ways to register the Micro Finance Institution (MFI). One way is to form a company and then apply to RBI for approval. The least requirements for a Microfinance company is Rs.5 crore net owned fund and active profiles of promoters. The second way is to register a section 8 company.
LegalRaahi offers the second way of registration. Apply for central government licenses features of which are as follows:
- Pvt. Ltd organization requires hardly any more ROC compliance converting into an extra expense of 5000 to 10000/annum.
- The least capital required is Rs.100,000.
- Private ltd. the company can have a limit of 200 individuals.
Still, entrepreneurs prefer privately limited for the ease in share transfer and potential for future growth.
Penalties Provisions in LLP annual compliance default
- As per the Limited liability Partnership Act 2008, it is necessary to enlist the entire endorsed consistence yearly. There is an arrangement for punishment in the event of any disappointment in enlisting Form 8 and Form 11 for revealing LLP’s fiscal reports and yearly return. A fixed measure of Rs. 100 every day for every understanding that can’t. No most extreme limit is determined.
- Every enrolled LLP is required to do Income tax return filing with Annual filing. This filing should be done before the 30th of September every year. After LLP registration, any LLP neglects to reach this deadline then a penalty of Rs. 5,000 is forced on it and filing has to be made by 31st December of that year. If the LLP fails to reach this deadline, then the penalty amount will is double that is Rs. 10,000.
It takes 15 to 30 working days (approx.) to complete the Limited Liability Partnership Registration method. The timeline may fluctuate depending upon reactions from the ROC department.