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What is LLP Company Registration?
A Limited Liability Partnership (LLP) is a popular business structure introduced in India in 2008. Combining the flexibility of a partnership with the advantages of limited liability, an LLP offers a secure and cost-effective option for entrepreneurs. Each partner’s liability is limited to their investment in the business, and they are protected from the misconduct or negligence of other partners.
LLP registration is one of the simplest and most affordable ways to establish and operate a business in India. It requires fewer legal formalities and is more cost-effective to maintain compared to a Private Limited Company. From a taxation perspective, LLPs also offer certain advantages.
REASONS TO OPT FOR LLP
Limited Liability
In a traditional partnership, partners are personally liable for the firm’s debts. In contrast, an LLP ensures that partners are only responsible for the capital they invest. Their personal assets remain protected, even if the business fails to meet its financial obligations.
Perpetual Succession
An LLP continues to exist regardless of changes in its partnership. It is unaffected by the death, resignation, or removal of any partner. As a separate legal entity, the LLP enjoys perpetual succession until it is formally dissolved.
Easy Transferability
Ownership in an LLP can be transferred by bringing in a new partner. Because the LLP is a distinct legal entity, adding or removing partners does not affect the business’s continuity or legal identity.
Fewer Legal Compliances
LLPs are ideal for startups and small businesses looking for a hassle-free structure with limited regulatory requirements. An LLP does not require a mandatory audit if its annual turnover is under ₹40 lakhs and capital contribution is less than ₹25 lakhs. This makes it easier to manage and more affordable to maintain than a Private Limited Company.
A private limited partnership offers legal protection to its shareholders but restricts its ownership. It is relatively convenient to manage and run the company with a possibility of expansion for growing companies. Also, it is easy to dissolve and wind up the company
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DOCUMENTS REQUIRED FOR LLP REGISTRATION
FOR DIRECTORS & SHAREHOLDERS
- FOR DIRECTORS & SHAREHOLDERS
- Copy Of Voter’s ID OR Passport OR Driver’s License
- Copy Of Latest Bank Statement OR Electricity Bill OR Telephone Bill
- Passport sized photographs
- Specimen Signatures
FOR REGISTERED OFFICE
- Copy Of Latest Bank Statement OR Electricity Bill OR Telephone Bill
- Copy Of Notarized Agreement of the rent (English)
- Copy Of Property owner’s NO-Objection certificate
- In case of owned property, Sale deed (English)
LLP REGISTRATION PROCEDURE
- To get LLP registration, DSC (Digital/E-signature) of the partners & DPIN (Designated Partner Identification Number) can be obtained within 5 to 7 days.
- Name Approval from any of the maximum six options given by the company to the MCA should ideally be suggestive of the business entity & unique.
- Incorporation documents should be submitted to the MCA with an application for incorporation. MCA will then approve the application for incorporation of LLP in 10 to 12 days.
- The Certificate of Incorporation shall be accepted at the end of this process.
- Every LLP company registration requires a registered Permanent Account Number (PAN) and Tax Account Number (TAN).PAN and TAN will then be couriered to the registered office address in 21 working days.
At Apramada, we recognize that forming and managing a Limited Liability Partnership (LLP) is a key milestone in your entrepreneurial journey. Our team of seasoned Chartered Accountants specializes in LLP registration and delivers a complete range of services—from the initial formation to ongoing compliance and strategic business support.
With Anubhav Agrawal & Co as your trusted advisors, you gain access to deep expertise and years of industry experience to help turn your business vision into reality.