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An LLP, or Limited Liability Partnership, was introduced in 2008 under the Limited Liability Partnership Act. It is a form of organization where at least two individuals (partners) come together to carry out business operations. Each partner has to follow the rules laid out under the LLP Act to carry out business operations. To ensure a smooth and fair partnership, there is an LLP agreement created by partners.
Similar to a company, an LLP has a separate existence from its members, which means it continues to exist without being impacted by the death, insolvency, or retirement of its partner(s). Partners benefit from limited liability and flexibility in LLP organizations, making it a popular choice for entrepreneurs in various industries.
LLPs in India come with noteworthy features that make them stand out. Some key strengths include:
Like a corporation, an LLP is considered a separate legal entity from its owners. This means it can enter into contracts, own property, and sue or be sued in its own name.
A Limited Liability Partnership (LLP) operates with perpetual succession, similar to a registered company. This means that it can continue to exist even if one or more partners who originally started it retire, pass away, face financial difficulties, or become unable to make sound decisions due to mental health issues.
An LLP in India may have a common seal on an agreement between all the partners. It isn't a necessity, but still, partners can opt for it. However, to affix the common seal, there is a condition: it must be in the presence of at least two designated partners of the LLP.
Just like in a partnership, partners in an LLP operate through a partnership agreement. It’s the document that outlines the rights, responsibilities, and profit-sharing arrangements among the partners.
An LLP is a popular choice for businesses in India because of its valuable features, including:
Limited liability stands out as a crucial advantage when opting for LLP company registration in India. This feature guarantees that the personal assets of partners are safeguarded, preventing them from being used to settle the debts and obligations of the LLP.
Because the details and documents of an LLP are officially registered with the government authorities upon incorporation, it makes them a reliable organization. While seeking credit, investment, or entering into contracts with clients, the LLP registration factor creates a positive impact. It helps in building trust easily.
Digital signature can be obtained with the help of Authorised Certifying Authority by JustStart.
The registration of Limited Liability Partnerships in India is extremely simple and quick. Especially if you choose JustStart to help your organisation register as an LLP in India, the process gets super convenient. You can file applications and documents online quite easily with our experts and streamline the LLP registration process.
One of the remarkable benefits of LLP registration in India is the flexibility it offers in managing the business internally. LLP allows the partners to define their own rules of management in the LLP agreement. Unlike the Companies Act, there are minimal provisions governing LLPs, making them a less complex form of business organization.
The eligibility conditions for registering an LLP in India are outlined in the LLP Act of 2008 and the LLP (Incorporation) Rules of 2009. Here is a concise overview:
Under these regulations, specific criteria must be met for LLP registration. These conditions, as established by the aforementioned acts and rules, serve as the foundational requirements for individuals or entities seeking to form an LLP in India.
To register an organization as an LLP in India, partners must produce the following documents:
To register an LLP online in India, you need to navigate through the following key steps:
Every designated partner of the LLP must apply for and obtain a Digital Signature Certificate (DSC) because it is mandatory for all kinds of government filings.
All the partners need to apply for Designated partner Identification Number (DPIN). It is a unique identification number provided to individuals longing to become designated partnersof LLPs.
Partners need to pick a unique name for the LLP. The name should not be copied and adhere to the guidelines of the Ministry of Corporate Affairs.
FiLLiP is the form to collect the necessary information for the registration of the proposed LLP and its partners. It also requires partners to sign a declaration indicating they will comply with LLP regulations.
Partners must create an LLP agreement that mentions their duties, rights, and obligations. This agreement needs to be notarized and submitted to the Ministry of Corporate Affairs within 30 days of LLP incorporation.
On the completion of filing and verification of documents, the Registrar of Corporations (RoC) issues the Certificate of Incorporation. It officially acknowledges that the LLP exists. PAN and TAN will also be there on the COI.
The LLP registration fee is Rs 7499, including all the government and professional fees. Kindly have a look at the breakdown of this fee in the below structure:
Steps | Cost (Rs) |
2 Digital Signature Certificates | Rs 3,000 |
Government Fee | Rs 843 |
Professional Fee | Rs 3656 |
Total Fee | Rs 7,499 |
Choosing JustStart for your LLP registration in India means entrusting the process to reliable and experienced hands. Our team comprises experts well-versed in the intricacies of LLP registration in India, providing dedicated guidance from initiation to completion. Here are compelling reasons to opt for our services:
As per the Companies Act, 2013, one who wants to register with a Private Limited Company must have the following checklist:
It is the total value of shares and securitya company can issue to the shareholders. If higher is the authorized capital, then the MCA fees will be increased. You can also increase the authorized capital of the company if required.
It is the amount of capital that is subscribed by the shareholders and which can be deposited in the current account of the company. Paid-up capital can not be more than the authorized capital of the company.
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The concept of a Pvt Ltd Company structure and know advantages and disadvantage of registering a company with popularity.
If you have made up your mind on getting your Pvt ltd company registered, you must hire a team of legal experts. A team of legal experts will get your company registered quickly through their expertise.
JustStart has one of the best legal consultants to help your company get registered. Once you let our legal experts help you with your private limited company’s registration, you won’t have to worry about it ever again.
To get your private limited company registered, you won’t have to leave your office. With JustStart, know how to apply private limited company online. Also, you can get your company registered from the comfort of your office or home. Our hassle-free online process has proven to be quite effective for our client.
Our team is full of experienced MBAs, CAs, CS, Lawyers, and Accountants with a great amount of skills and talent. You can trust our experts for the registration of your private limited company.
We aim to help our clients’ businesses grow through our consistent legal support. Through our legal advice, you will be able to tackle all the legal obstacles that may come in the way of your business easily.
Besides having a team of remarkable experts, our refined legal strategies contribute greatly to our success. With the help of our legal strategies, you will be able to run and grow your business smoothly.
A private limited company is a business entity privately owned by shareholders and its shares cannot be traded on a stock exchange. But if you want to close pvt ltd company India, it is possibe with JustStart.
Under the Companies Act 2013, a few minimum requirements to establish a private limited company are as follows:
No. The process of obtaining company certificates and completing the registration application is completely online and does not require the applicants to be present. In most cases, individuals hire experienced Private Limited Company Registration Consultancy like Juststart in India to complete the documentation on their behalf to avoid any obstacles.
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