Limited Liability Partnership

(3 customer reviews)

Limited Liability Partnership

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₹12,999.00

Product price: ₹12,999.00
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Limited Liability Partnership

(3 customer reviews)

What is a Limited Liability Partnership (LLP)?

Introduced in 2008, the Limited Liability Partnership (LLP) swiftly emerged as a favored legal framework for businesses. Governed by the Limited Liability Partnership Act of 2008, LLP registration offers owners the advantage of limited liability and simplified maintenance.

This structure, requiring fewer compliances, is particularly favored by professionals, micro and small family-owned or closely-held businesses, as well as those in the trading and service sectors, especially advisory and professional service firms.

 

Advantages of Registering a Limited Liability Partnership (LLP)

Benefits of Registering a Limited Liability Partnership (LLP) Company:

  1. Limited Liability of Partners: Partners’ liability is limited to their contribution to the LLP, protecting personal assets against business debts and liabilities.
  2. Separate Legal Entity: The LLP is recognized as a distinct legal entity, separate from its partners, enabling it to enter contracts, own assets, and sue or be sued in its own name.
  3. Continuity of Existence: LLP enjoys perpetual succession, unaffected by changes in partners, ensuring business continuity and stability.
  4. Minimal Regulatory Compliance: LLPs have fewer regulatory and compliance requirements compared to other business structures, reducing administrative burdens.
  5. Transferability of Ownership: LLPs offer flexibility in transferring ownership interests, allowing partners to transfer or introduce new partners with relative ease.

 

Requirements for Registering a Limited Liability Partnership (LLP) Company

Requirements for Registering a Limited Liability Partnership (LLP) Company:

  1. A minimum of two persons as Partners & Designated Partners.
  2. No minimum capital is required for LLP Registration.
  3. At least one Designated Partner should be a resident in India.
  4. Partners are not restricted by citizenship but should be aged above 18 years.
  5. At least one Designated Partner should be a resident of India.
  6. Foreign residents are also allowed as Designated Partners after obtaining a Designated Partner Identification Number.

 

Step-by-Step Guide to Registering a Limited Liability Partnership (LLP) Company

  1. Application for DSC & DIN for Partners: Apply for Digital Signature Certificate (DSC) and Director Identification Number (DIN) for partners through the MCA portal.
  2. Application Filing for Name Availability: Submit an application for the availability of the proposed LLP name through the MCA portal. Ensure the name complies with naming guidelines.
  3. Drafting and Filing of LLP Agreement: Prepare and file the Limited Liability Partnership (LLP) agreement, outlining the rights, duties, and obligations of partners, as per the prescribed format.
  4. Drafting and Filing of eMoA and eAoA: Prepare and file the electronic Memorandum of Association (eMoA) and Articles of Association (eAoA) incorporating necessary clauses and details of the LLP.
  5. Apply for PAN and TAN of the Company: Apply for Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for the LLP through the NSDL portal.
  6. Certificate of Incorporation Issued by RoC along with PAN and TAN: Once all documents are verified and approved, the Registrar of Companies (RoC) issues the Certificate of Incorporation along with PAN and TAN.
  7. Open a Current Bank Account in the Company Name: Use the Certificate of Incorporation and other relevant documents to open a current bank account in the name of the LLP.

 

Documents Needed for Limited Liability Partnership (LLP) Company Registration

Identity & Address Proof of Partners:

  1. Copy of PAN Card of Directors (mandatory)
  2. Aadhaar Card, Voter ID Card, Driving License, or Passport
  3. Any one of: Bank Statement, Electricity Bill, or Mobile Bill (not older than 2 months)
  4. Passport Size Photograph of Directors

Proof of Registered Office:

  1. Conveyance/Lease Deed/Rent Agreement, etc., along with rent receipts (any one)
  2. Copy of utility bills (Telephone/Gas/Electricity bill) (not older than two months) (any one)
  3. No Objection Certificate (NOC) from Landlord

 

Deliverables for Limited Liability Partnership (LLP) Company Registration

Deliverables for Limited Liability Partnership (LLP) Company Registration through MyLawPoint

  1. Digital Signature Certificate (DSC) and Director Identification Number (DIN) for 2 Partners
  2. Company Name Approval
  3. Memorandum of Association (MOA) and Articles of Association (AOA)
  4. Incorporation Certificate
  5. Company PAN Card
  6. Company TAN Number
  7. Support for Bank Account Opening Documents

 

MyLawPoint for property document verification was 100% worth it. Initially, I hired a lawyer for bank loan document processing but was disappointed with their professionalism. MyLawPoint connected me with an expert advocate who articulated all possible pitfalls in purchasing the property (DC Survey 66/1 Chikkanagamangala) from Reliaable Developer. Their detailed legal report helped me avoid a potential loss of 80 lakhs. I'm grateful for MyLawPoint's excellent coordination and swift document collection. Thank you to their team for saving me from a risky investment.

Govind

I purchased a flat in Hyderabad, but the builder delayed possession beyond the committed date. This caused significant financial strain as I was paying high EMIs and rent, leaving me with no money at month-end. Feeling stressed and helpless, I discovered MyLawPoint. Their Property Expert Lawyer suggested sending a legal notice to the builder and appealing to RERA for the delayed possession. Thanks to their guidance, I received compensation from the builder for the delay and finally gained possession of my flat. MyLawPoint's support was invaluable in resolving this effectively.

Malani

I had an exceptional experience with MyLawPoint. Their support throughout the entire process, from Property Paper Verification to the Sale Deed Registration, was truly comprehensive and invaluable. The level of service they provided exceeded my expectations, and I am highly satisfied with the outcome. Their dedication to keeping me informed with timely updates at every step of the way further showcased their professionalism and commitment to client satisfaction. I wholeheartedly recommend MyLawPoint to anyone in need of legal support for their property transactions.

Gerald Gilbert

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Frequently Asked Question

Is Stamp Duty included in MyLawPoint's fee?

No, stamp duty is not included in MyLawPoint's fee. It should be paid separately, and our lawyers will assist you in procuring it.

How long does it take to register the property?

The time taken for property registration varies based on the sub-registrar office and property registration flow. Typically, after document submission to MyLawPoint, expect 3-7 days for lawyer-assisted property appointments with the local sub-registrar office.

Do I need to be present at the Sub Registrar Office?

Yes, while MyLawPoint handles appointments and formalities, your presence at the sub registrar’s office is required on the day of registration appointment.

Can an Agreement to Sell be cancelled?

Yes, an Agreement to Sell can be cancelled through mutual consent or if a condition in the contract permits cancellation. However, penalties or consequences may be specified in the agreement for cancellation.

Limited Liability Partnership

On Sale
(3 customer reviews)

A Limited Liability Partnership (LLP) is a business structure that merges the flexibility of a partnership with the limited liability protection of a company. In India, LLPs are regulated by the Limited Liability Partnership Act of 2008.

What is a Limited Liability Partnership (LLP)?

Introduced in 2008, the Limited Liability Partnership (LLP) swiftly emerged as a favored legal framework for businesses. Governed by the Limited Liability Partnership Act of 2008, LLP registration offers owners the advantage of limited liability and simplified maintenance.

This structure, requiring fewer compliances, is particularly favored by professionals, micro and small family-owned or closely-held businesses, as well as those in the trading and service sectors, especially advisory and professional service firms.

 

Advantages of Registering a Limited Liability Partnership (LLP)

Benefits of Registering a Limited Liability Partnership (LLP) Company:

  1. Limited Liability of Partners: Partners’ liability is limited to their contribution to the LLP, protecting personal assets against business debts and liabilities.
  2. Separate Legal Entity: The LLP is recognized as a distinct legal entity, separate from its partners, enabling it to enter contracts, own assets, and sue or be sued in its own name.
  3. Continuity of Existence: LLP enjoys perpetual succession, unaffected by changes in partners, ensuring business continuity and stability.
  4. Minimal Regulatory Compliance: LLPs have fewer regulatory and compliance requirements compared to other business structures, reducing administrative burdens.
  5. Transferability of Ownership: LLPs offer flexibility in transferring ownership interests, allowing partners to transfer or introduce new partners with relative ease.

 

Requirements for Registering a Limited Liability Partnership (LLP) Company

Requirements for Registering a Limited Liability Partnership (LLP) Company:

  1. A minimum of two persons as Partners & Designated Partners.
  2. No minimum capital is required for LLP Registration.
  3. At least one Designated Partner should be a resident in India.
  4. Partners are not restricted by citizenship but should be aged above 18 years.
  5. At least one Designated Partner should be a resident of India.
  6. Foreign residents are also allowed as Designated Partners after obtaining a Designated Partner Identification Number.

 

Step-by-Step Guide to Registering a Limited Liability Partnership (LLP) Company

  1. Application for DSC & DIN for Partners: Apply for Digital Signature Certificate (DSC) and Director Identification Number (DIN) for partners through the MCA portal.
  2. Application Filing for Name Availability: Submit an application for the availability of the proposed LLP name through the MCA portal. Ensure the name complies with naming guidelines.
  3. Drafting and Filing of LLP Agreement: Prepare and file the Limited Liability Partnership (LLP) agreement, outlining the rights, duties, and obligations of partners, as per the prescribed format.
  4. Drafting and Filing of eMoA and eAoA: Prepare and file the electronic Memorandum of Association (eMoA) and Articles of Association (eAoA) incorporating necessary clauses and details of the LLP.
  5. Apply for PAN and TAN of the Company: Apply for Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for the LLP through the NSDL portal.
  6. Certificate of Incorporation Issued by RoC along with PAN and TAN: Once all documents are verified and approved, the Registrar of Companies (RoC) issues the Certificate of Incorporation along with PAN and TAN.
  7. Open a Current Bank Account in the Company Name: Use the Certificate of Incorporation and other relevant documents to open a current bank account in the name of the LLP.

 

Documents Needed for Limited Liability Partnership (LLP) Company Registration

Identity & Address Proof of Partners:

  1. Copy of PAN Card of Directors (mandatory)
  2. Aadhaar Card, Voter ID Card, Driving License, or Passport
  3. Any one of: Bank Statement, Electricity Bill, or Mobile Bill (not older than 2 months)
  4. Passport Size Photograph of Directors

Proof of Registered Office:

  1. Conveyance/Lease Deed/Rent Agreement, etc., along with rent receipts (any one)
  2. Copy of utility bills (Telephone/Gas/Electricity bill) (not older than two months) (any one)
  3. No Objection Certificate (NOC) from Landlord

 

Deliverables for Limited Liability Partnership (LLP) Company Registration

Deliverables for Limited Liability Partnership (LLP) Company Registration through MyLawPoint

  1. Digital Signature Certificate (DSC) and Director Identification Number (DIN) for 2 Partners
  2. Company Name Approval
  3. Memorandum of Association (MOA) and Articles of Association (AOA)
  4. Incorporation Certificate
  5. Company PAN Card
  6. Company TAN Number
  7. Support for Bank Account Opening Documents

 

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₹12,999.00

Product price: ₹12,999.00
Total options:
Order total: