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LLP REGISTRATION

LLP Registration

LLP Registration

Limited Liability Partnership (LLP) is a business form that provides the benefits of limited liability and flexibility of a partnership business. It is governed and registered under the Limited Liability Partnership Act, 2008, and the rules are made thereunder. Small and Medium Enterprises (SMEs) can function as LLP. Indeed, LLP is suitable for the trading, service sector especially advisory and professional Service firms, etc.

Documents for LLP Registration

  • Identity Proof of Designated Partners and Partners
  • Copy of Pan Card of Designated Partners and Partners (Mandatory)
  • Any one of: Bank Statement, Electricity Bill, Mobile Bill (not older than 2 months)
  • Proof of Registered office
  • Copy of Pan Card of Partners
  • Stamp paper for LLP Agreement of State where LLP is to be Incorporated

COMPARE OPTIONS FOR LLP Registration

Private Limited Company Rs. 2999/- Growing Startups Yes High Compulsory Yes Yes
LLP Registration Rs. 3999/- Service Providers, Professional Service Firms, Trading Business Yes Low Only if contribution more than Rs. 25 lakhs or turnover exceeds Rs. 40 Lakhs Yes Yes
One Person Company Registration Rs. 2999/- Independent Promoters Yes High Compulsory Yes Yes
Partnership Firm Registration Rs. 1999/- Family Business No Low Subject to turnover of the firm No Minimal
Public Limited Company Rs. 7999/- Ideal for Medium and Large-Scale business and allows them to raise equity capital from Public. Yes Very High Compulsory Yes Yes

FAQ'S FOR LLP Registration

LLP is new framework and easiest form of business to register and operate in India. Thus, LLP relate the advantages of both ‘Company’ and ‘Partnership’ in a single business entity. Mostly preferred structure for trading, advisory and professional services firms.

Initially, there is no minimum Capital Contribution required. Hence, It can be registered even with Rs. 1000 Capital Contribution.

Yes, an NRI or foreign National can become partner of LLP. But only after he has been assigned with DIN/DPIN. However, at least one designated partner in LLP must be a Resident in India.