LLP Registration starting

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What is a Limited Liability Partnership (LLP)?

The Limited Liability Partnership Act of 2008 governs a new type of organization called a Limited Liability Partnership (LLP). It has become a popular method of starting a business among entrepreneurs due to its numerous advantages. An LLP must have a minimum of two partners, but there is no limit to the number of partners that can be added. LLP’s are a versatile legal and tax structure that lets partners profit from economies of scale by collaborating while also limiting their liability for the acts of other partners. Because an LLP can enter into a contractual relationship in its own capacity, it offers a great advantage to the partners for limiting their personal risk. Another key benefit of registering an LLP over a Private Limited Company is that LLP needs to adhere to lesser compliance requirements.

All About Limited Liability Partnership

Why choose Limited Liability Partnership (LLP)?

Limited Liability
The partners' liability is restricted to their contributions, which means they are only responsible for their own contributions and are not personally accountable for the business's losses. When an LLP is wound up, only the LLP firm assets are seized and none of the partners are personally liable.
Low cost and Compliance
When compared to the expense of forming a public or private business, forming an LLP is far less expensive. There is no requirement for a certain amount of paid-up capital. LLPs also have a low level of compliance because they only have to file their annual return and statement of accounts once a year.
Separate Legal Entity
A Limited Liability Partnership (LLP), like other businesses, has its own legal entity and is distinct from its partners. It has the ability to sue and be sued in its own name. Its existence is unhindered and follows perpetual succession. i.e. a Partner's leave or demise doesn't affect its existence.

Documents / Details we need

Identity Documents
Pan Card and Aadhar Card along with any other ID proof of the partners.
Photographs
Passport Size Photographs of all the partners.
Address Documents
Address Proof of the Partners e.g Passport, DL, Voters ID, Aaadhar, etc.
Business Address Documents
Latest Utility Bill, mobile bill, telephone, etc of the registered office address.

Important Clauses

Business Objective
The LLP agreement to be drafted should primarily determine the type and object of business of LLP to be incorporated. Consists of office address as well.
Governing Body
This clause states the governing body through which the LLP is governed and established.
Capital Contributions
Capital contribution is the sum of money being contributed by each partner at the time of incorporating an LLP.
Profit Sharing Ratio
It determines the profit/ loss sharing ratio between the partners.
Dispute Resolution
A clause pertaining to dispute resolution is a necessary condition to be included in the LLP agreement in order to avoid conflicts.
Confidentiality
It is required that members who leave the LLP keep the company's affairs private and preserve confidentiality even after they have left.

What's the process ?

1. Digital Signature
Applying for the Digital Signatures for all the designated partners of the LLP
3. Drafting LLP Agreement
Based on the Objectives of the Business, an LLP Agreement will be drafted.
2. Name Reservation
Application to reserve Name of the Company and availability/acceptance of the government.
4. Submission
The duly filled application, along with the relevant documents will be submitted for approval.
1. Digital Signature
Applying for the Digital Signatures for all the designated partners of the LLP
2. Name Reservation
Application to reserve Name of the Company and availability/acceptance of the government.
3. Drafting LLP Agreement
Based on the Objectives of the Business, an LLP Agreement will be drafted.
4. Submission
The duly filled application, along with the relevant documents will be submitted for approval.

Why choose us

PERSONALISED SERVICE

A dedicated Case Manager ensures quick turnout to all your queries and tailored solutions that fit perfectly for your requirements.

72 HOURS DELIVERY

All your drafting queries are addressed, understood, and delivered with quality under 72 Hours.

EXPERIENCED TEAM

Our team of dynamic professionals is well experienced and extremely proficient to cater to your needs, ensuring the best service.

24/7 HELPLINE

We are available to address and clarify all your queries round the clock. So you can worry less and focus more on the business.

Frequently Asked Questions

Any individual, or even a company or an LLP, can become a partner. However, only an individual can become a ‘designated partner’ in an LLP.

Yes, non-resident Indians and foreign nationals who are willing to enter into an LLP partnership can do so, provided they submit the necessary documents after getting them notarized by the concerned authorities. Although, at least one of the designated partners in an LLP should be an Indian national.
An LLP agreement is made between the partners and the LLP regarding the relationship between the individual partners in the LLP. An LLP agreement usually consists of management policies, the inclusion of new partners, policy-making strategies, and so on.
According to the LLP Act, a minimum of two designated partners are required to start an LLP. The designated partners are responsible for fulfilling all the essential requirements involved in starting and running an LLP.
Yes, it is much cheaper to run an LLP than a private limited company, particularly in your early startup days. This is because many compliances, such as an audit, apply to LLPs only after their turnover is sizable. Most LLPs spend about half as much as a private limited company in their first year on registrations and compliance work.
Yes, the process for GST registration is online completely. You can do everything in the personalised dashboard we provide for you.