LLP Registration

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LLP Registration

  • LLP Deed Drafting
  • LLP Registration
  • Current Account Opening

Market Price – Rs: 19,899 

OnlineTaxSeva Price- Rs: 7,599 (All Inslusive)

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“Note: Please talk to an advisor first and get all doubts resolved before proceeding with payment. Once we receive the payment, our team will reach out to you and work on the service.”

 

Documents required For LLP Registration

PAN Card
Passport
Voters Identity Card

Details Of LLP Registration in India

With the flexibility of a partnership firm and the benefits of a company combined, LLP Registration in India has emerged as a viable alternative business structure. The Limited Liability Partnership Act of 2008, which took effect in 2008, brought the LLP concept to India. Small- and medium-sized firms would do well to use this unusual hybrid.

In India, managing and forming a Limited Liability Partnership is quite simple. A minimum of two partners are needed to register an LLP; there is no maximum number. The Partners’ obligations and rights are outlined in the LLP agreement. One partner in an LLP is not liable for the wrongdoing and carelessness of the other partner. The LLP agreement’s requirements must all be followed, and the partners are in charge of doing so.

LLP Registration FAQ’s

1.Who qualifies for LLP, first?
An LLP must have at least two designated partners, also known as designated partners. The people involved must be at least 18 years old and have a legal address in India. Individuals or corporations may be Designated Partners (such as companies). Limited liability partnerships, foreign business entities, and foreign nationals can all be designated as partners.

2. What is the price of an LLP?
The number of partners, the amount of each partner’s contribution, and any additional registration costs all go towards the price of LLP registration in India. Professional fees, stamp duty, and other registration necessities are additional expenses while forming an LLP in India.

3. Is LLP subject to GST?
Depending on the products or services they provide, Limited Liability Partnerships (LLPs) must pay Goods and Services Tax (GST). LLPs need to register for GST and submit GST returns on a regular basis.

4. What is a Digital Signature Certificate?
A DSC is useful for electronically identifying the sender or signee. All recognised partners are required by the Ministry of Corporate Affairs (MCA) to submit applications with digital signatures.

5. What is the DPIN?
Each present and potential Designated partner of an LLP is given a special identification number, which is known as the Designated Partner Identification Number. DPINs are required for all current and potential directors.

6. How much time is required to form an LLP?
The time it takes to incorporate a business relies on the client’s submission of the necessary paperwork and the government authorities’ approvals. You may incorporate an LLP in 14–20 days with Etailed’ assistance.

7.Can foreign nationals or NRIs be appointed partners in an LLP?
If he possesses a Designated Partner Identification Number, an NRI is eligible to participate as a designated partner in a limited liability partnership. Yet in the LLP, at least one Designated Partner must be an Indian resident.

8. Are LLPs open to FDI (Foreign Direct Investment)?
The Foreign Investments Promotion Board permits FDI in an LLP using an automated procedure (FIPB). Nota bene: LLPs cannot be purchased by foreign institutional investors or foreign capital investors.

9. Can a partnership firm be changed into an LLP?
It is possible to transform an existing partnership firm or an unlisted company into an LLP. There are several advantages to this conversion into an LLP.

10. Which legal papers are necessary to form an LLP?

Passport, PAN
Any kind of identification
Invoices from banks
Proof of a registered office’s usage of the property by a landlord’s NOC
A minimum of two months’ worth of the property’s utility bills.

11. Is LLP a good idea?

LLP is a combination of both Partnerships and a Limited Company, offering the advantages of both the companies.

12.What are the LLP’s compliance requirements?

An LLP is supposed to file
1. LLP Annual return by Filing Form 11.
2. Final Statement of Account and Solvency
3. Income Tax Return.

13. Is it possible for an LLP to raise funds?

An LLP is not permitted to engage in any type of public fundraising. Only partners may invest capital in an LLP, and partners’ liability is only as much as their investment.

14. What is LLP registration?
An entity that offers the benefits of a company and the flexibility of a partnership business in a single organisation is registered as an LLP.

15. LLP or Private Limited Company: Which is preferable?
Although though both offer the same characteristics, it is always preferable to create an LLP rather than a Private Limited Corporation. An LLP can be incorporated for less money than a Private Limited Corporation. The proprietor of the LLP also has ownership and management of the Business. Compared to a Private Limited Corporation, the LLP has less compliances.

16. How do you create an LLP?
Initiating an LLP is a fully online procedure. Simple online document submission is all that is required. We’ll have our consultants do routine follow-ups.

17. How many persons are necessary to form an LLP?
Incorporating an LLP requires a minimum of two partners.

18. What are the LLP’s advantages?
One should create an LLP for a number of reasons. The registration fee is nominal. There is no requirement for a minimum donation. No restrictions on the company’s owners. Doing an audit is not required. Tax compliance is declining.

19. How many individuals are needed to form an LLP?
An LLP may have any number of Partners, but a Limited Liability Partnership must have a minimum of two Partners.

20.How to Become a Partner in an LLP?
A natural person who is older than 18 must be the designated Partner. A foreign citizen or foreign company may create an LLP in India under the LLP Act 2008 as long as at least one chosen partner is Indian.