At the fast-changing business environment, businessmen are in need of a form of organization that allows a partnership yet has the advantages of limited liability and corporate identity. The Limited Liability Partnership (LLP) model exactly offers that. The LLP structure is a perfect combination of flexibility in operation along with a shield of litigation; an ideal combination which was introduced in India under the Limited Liability Partnership Act, 2008.
The registration of LLP is of great advantage to the professionals, service providers, consultants, small and medium-sized firms, and family-owned businesses. It is assistive in continuity, limits risk, and increases credibility of the vendor, client as well as financial institutions.
LLP registration involves the process of starting up a business where by two persons or more join hands to run a venture on a business structure which is in place under the law that protects them against liabilities.
Limited Liability Partnership (LLP) is a type of business, which is a mixture of partnership firm and a limited firm. It is an independent legal person, it can act in perpetuity and it provides limited liability to its partners. LLP operates under the registry of Companies (ROC) under the branch Ministry of Corporate Affairs (MCA).
For Partners (Indian Citizens):
In the case of Foreign Nationals/ NRIs:
For Registered Office:
Note: Timeline can get longer depending on how fast the government processes and the accuracy of the documents.
Government Charges:
Professional Fees include:
Basic Package begins at: Rs 6,999 (with the minimum governing fee)
It is imperative to file Annual Return (Form 11) and Statement of Accounts (Form 8) at the prescribed time to avoid penalties.
No matter whether you are a freelancer, start up or a professional firm, we simplify your LLP registration free of jargon and inconvenience.
To get an LLP you require 2 partners at least.
It is indeed possible to register LLP as a family member.
Yes, FDI in LLP is possible only in the fields where 100 percent FDI is permitted under automatic route.
There is lifetime validity on LLP registration except when it is voluntary closed or struck off.
Of course, filing LLP Agreement is a mandatory part that should be filed within 30 days after registration.
Yes, an LLP can be restructured into company through necessary approvals and filing.
It does not need any minimum capital. You may begin even with 1 rupee.
Audit only becomes mandatory in case the turnover is above 40 lakh or the capital contribution is above 25 lakh.
An LLP, unlike the traditional partnership, is a separate legal entity in the sense of limited liability.
Yes, registered LLPs are eligible to be registered as MSME, take tenders and also avail bank loans.