In India, Limited Liability Partnership (LLP) became popular in 2009. It quickly became a hit with startups and professionals. LLP combines the advantages of a partnership with those of a limited liability company. It was created to offer a business structure that’s easy to manage and protects owners from unlimited liability.
If you want to register a Limited Liability Partnership in India, Rabbnoor Advisory offers reliable and affordable services.
Once you’ve decided on your business plan, you need to choose between registering as a Private Limited Company or an LLP. To make this decision, you should understand the differences and benefits of each option, so you can choose what’s best for your business plan.
The main reason for choosing LLP is the limited liability it offers. This means that members of the LLP are only responsible for a limited amount of debt incurred by the business. This is different from sole proprietorships and partnerships, where personal assets of owners and partners are not protected if the business fails.
Here are some key points about LLPs:
– They are separate legal entities from their members.
– They provide limited liability protection for their members.
– They are taxed similarly to partnerships.
– They offer the organizational flexibility of a partnership.
– Any agreements governing the LLP’s operation are private and confidential to its members.
– LLPs must have at least two designated members.
– They have similar trading disclosure requirements to companies.
– LLPs must be registered with Companies House.
So, if limited liability and flexibility are important to your business, registering as an LLP might be the right choice for you.
At Rabbnoor Advisory, we make registering an LLP easy and stress-free.
Here’s how we do it:
After completing these steps, your LLP is registered and ready to operate.
Additionally:
– DSC and DIN: We help obtain Digital Signatures and DIN for partners.
– Name Approval: We apply for LLP name approval, ensuring it’s unique and compliant.
– LLP Agreement: We assist in drafting and filing the LLP Agreement, defining partner rights and duties.
– Incorporation Certificate: We obtain the LLP Incorporation Certificate from the Registrar.
– PAN & TAN & Bank Account: Finally, we help you apply for PAN and TAN for your LLP, along with opening a bank account.
With our support, the entire process is smooth and efficient, so you can focus on running your business.
To provide details for registering an LLP, you’ll need the following:
LLP Details:
– Name of the LLP
– Business information
– LLP agreement on stamp paper with initial capital contribution by partners and profit-sharing ratio
For Designated Partners:
– Copy of PAN card
– Self-attested copy of identity proof (like voter card, passport, or driving license)
– Self-attested copy of address proof (such as bank statement, mobile bill, or electricity bill not older than 2 months)
– Photograph of all designated partners and partners
– Email and mobile number
For Address Proof:
– Utility bill for the registered office address of the LLP (like electricity bill, property tax bill, telephone bill, or mobile bill)
– For rented property, include the rent agreement.