Features of Limited Liability Partnership
1. Required Minimum 2 Designated Partners
2. More than Partnership and Less than Company
3. Body Corporate and Benefit of Limited Liability
4. Less or Legal Compliances as compared to Company
5. Less Favorable for VC and Angel Investment
6. Can have unlimited number of Partners
7. Tax Free Profit Sharing Among Partners
Documents Required For LLP Registration
1. PAN of all Partners
2. Voter ID/DL/Aadhar Card of All Partners
3. Passport Photo of all partners
4. Latest utility bill (electric bill/telephone bill) and Rent Agreement or latest tax receipt/ownership deep of the property for the property to be used for registered office.
Step By Step Procedure
Step 1- Application for Obtaining DSC (Digital Signiture)
Step 2- Applcation for Obtaining of DIN (Director Identification Number)
Step 3- Application for Name Availability of the proposed LLP to MCA
Step 4- Filing of Incorporation Documents and Forms by Goverment
Step 5- Certificate of Incorporation
Step 6- Drafting of LLP Agreement
Step 7- Filing of LLP Agreement
Step 1- 1 Day
Step 2- 1 Day
Step 3- 1 Day + Time Taken by MCA
Step 4- 2 Days
Step 5- Time Taken by MCA
Step 6- 1 Day
Step 7- 1 Day
FREQUENTLY ASKED QUESTIONS
1. Is it necessary to have 2 Partners for LLP Registration?
Yes, you need a minimum of two designated Partners to incorporate LLP in India. the Maximum number of partners can be unlimited.
2. Who can be Partner in LLP in India?
Any individual/Company/LLP can become partner of the LLP including foreigners/NRI. However, the individual must 18+ above in terms of age and should have a valid PAN card.
3. Do i need a commercial address to incorproate a LLP ?
No, It is not mandatory to have commercial address, you can form Company at Residential Address also. NOC form Owner is Required.
4. Where do i get LLPIN of the LLP ?
LLPIN is always mentioned at Certificate of Incorproation of the LLP , you may also find LLPIN at MCA.GOV.IN
5. What is LLP Agreement?
LLP Agreement is agreement among the Partners of the LLP , where the Roles, Responsiblities, Term and Condition on governance of LLP is mentioned, this is Charter Document of LLP. LLP Agreement of Flexible we can draft LLP Agreement according to our requirements