Introduction
Limited Liability Partnership (LLP) was introduced to provide a form of business that is easy to maintain and to help owners by providing them with limited liability. One partner is responsible for only his own actions and not the actions of his partner. This is entirely different from proprietorship and partnership where the personal assets of partners are not protected if the business becomes bankrupt.
- Individual partners get protected from Joint liability created by another partner’s wrongful business decisions or misconduct.
- In case business goes bankrupt, partners are not personally liable for any debt of LLP.
- Partner’s are not liable to be sued for any dues against LLP.
- Less requirement of compliance.
- Minimum two partners are required to start a LLP, No cap on maximum number of partners.
- There is no requirement of minimum capital to start a limited liability partnership.
- LLPs are treated as separate legal entities.
Service Includes
- Name reserve through RUN (Reserve Unique name)
- DSC (2 Nos)
- Includes Government Fees upto ₹1 Lakh Capital Contribution by Designated Partners
- Includes Government Fees & stamp duty Up to ₹2750/-
- Filing of Filip Form
- Issue of Incorporation Certificate
- Drafting of LLP Agreement/Deed
- Filing of Form 3
- Designated Partner Identification No. (DPIN) – (2 Nos)
- PAN
- GST Registration (as per business need)
- Assisted in Bank account opening
- Excluded Notary fees/Franking Charges
- Business Hours CA Support – Email, Phone, WhatsApp.
Required Documents
1)For each Partner/Designated Partner –
a) Passport Size Photos
b) PAN Card
c) Aadhaar Card
d)For Identity Proof – Passport / Driving License / voter ID (any one)
e)For Residential Proof – Bank Statement/Electricity bill/Landline Bill/ Mobile bill/Gas pipeline bill not older than two months (any one)
f) Passport is mandatory for Foreign Nationals
g) Specimen signature
2)For Registered Office Address – Electricity bill/Landline Bill/Mobile bill/Gas bill, but not older than two months (any one)
3)Rent agreement of your registered office
4)No Objection Certificate from owner of property.
Frequently ask questions
Taxfolios Team usually takes 4-5 working days to Incorporate a company subject to approval from MCA.
Yes, you can register the LLP providing your home address as Registered office. There is no restriction or regulation as only Commercial places can be used as registered office company.
No, GST service is add on Service with company registration, so price of Package will remain same.
There is no minimum capital requirement to start Limited Liability Partnership (LLP).
LLPs are required to have its accounts audited by a practicing Chartered Accountant if its annual turnover, in any financial year exceeds ₹40 lakhs or its contribution exceeds ₹25 lakhs.
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