LLP Registration Consultancy Service

Limited Liability Partnership Registration Online – An Overview

Limited Liability Partnership (LLP) combines the benefits of a partnership with that of a limited liability company. In India, it took shape after January 2009 and was an instant success with startups and professional services. The idea behind LLP was to provide a form of business that is easy to maintain and benefits owners with limited liability.

Benefits of a Limited Liability Partnership (LLP):

LLP is a preferred business model due to its flexibility, limited liability, and ease of management. Here are its key benefits:

Limited Liability

• Partners' liability is restricted to their investment, protecting personal assets in case of business losses.

Separate Legal Entity

• An LLP functions independently of its partners, ensuring continuity even if ownership changes.

Flexible Management

• Allows easy ownership transfer and induction of new designated partners.

Ideal for Small Businesses

• LLPs with capital below 25 lakhs and turnover under 40 lakhs are exempt from mandatory audits, reducing compliance costs.

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How to Register an LLP Online: Here’s a step-by-step process

• Obtain DSC & DIN
• Name Approval
• Draft LLP Agreement
• LLP Incorporation Certificate
• Apply for PAN, TAN & Account.

Documents required for registering LLP in India:

• ID Proof of Partners: All partners must provide their PAN card, which acts as primary ID proof.
• Address Proof of Partners: Partners can submit any one of the following: Voter’s ID, Passport, Driver’s License, or Aadhar Card. The name and details on the address proof and PAN card must match exactly.
• Residence Proof of Partners: Submit a recent bank statement, telephone, mobile, electricity, or gas bill (not older than 2 months) showing the partner's name as per the PAN card.
• Photograph: Passport-size photograph of each partner, preferably on a white background.
• Proof of Registered Office Address: Submit a rent agreement (if applicable) and a no-objection certificate from the landlord, along with a utility bill (gas, electricity, or telephone) within 30 days of incorporation.
• Digital Signature: One designated partner must obtain a digital signature certificate for signing all documents and applications digitally.