Limited Liability Partnership Formation
Looking to form a Limited Liability Partnership Formation (LLP)? An LLP is a versatile business structure that merges the flexibility of a partnership with the security of limited liability, safeguarding partners’ personal assets from business obligations. It’s the perfect choice for professionals, entrepreneurs, and small to medium-sized businesses aiming for a flexible, cost-effective legal framework. With minimal compliance and no required minimum capital, LLP formation offers a streamlined and secure way to launch and manage your business. Interested in learning more? Contact us for details!
Set Up Your Limited Liability Partnership Easily(LLP)
How to Form a Limited Liability Partnership
Incorporating a Private Limited Company not only protects the personal assets of its owners but also adds credibility to the business, making it easier to attract investors and partners. Unlike sole proprietorships, a Private Limited Company has a legal identity separate from its owners, allowing it to enter contracts, own property, and even sue or be sued in its own name. This structure also offers flexibility in ownership, as shares can be transferred, making it easier to bring in new investors or shareholders. Additionally, having a Private Limited Company increases the company’s chances of securing funding, as banks and financial institutions view this structure more favorably.
The incorporation process involves securing the company’s name, drafting the Memorandum and Articles of Association, and submitting the necessary documents to the Ministry of Corporate Affairs (MCA). Once approved, the company receives a Certificate of Incorporation, which legally recognizes it as a separate entity. After incorporation, the company must comply with ongoing legal requirements, including maintaining statutory registers, conducting board meetings, and filing annual returns. These steps, though more structured, provide long-term benefits in terms of growth, legal protection, and professionalism.
Requirements for Limited Liability Partnership (LLP) Formation
Private Limited Company in India, a business must meet several key requirements. The company needs a minimum of two directors and two shareholders, with at least one director being a resident of India. A unique company name that complies with the Ministry of Corporate Affairs (MCA) guidelines is essential. The company must also have a registered office address in India and declare its authorized share capital, though no minimum paid-up capital is required. Directors are required to obtain a Digital Signature Certificate (DSC) and a Director Identification Number (DIN) for electronic filing. Additionally, the company’s Memorandum of Association (MOA) and Articles of Association (AOA) must outline its objectives and operational rules. Necessary documents such as identity and address proof for directors, along with PAN cards, complete the registration process.
Steps to Form a Limited Liability Partnership
Our team will thoroughly assess your business structure and activities to determine if forming a Limited Liability Partnership (LLP) aligns with your needs. Should LLP formation be the right fit, we’ll provide you with detailed guidance on the full process and explain all the compliance requirements that need to be met.
To begin the LLP incorporation process, you’ll need to provide the required documents for all partners. Once we have the necessary paperwork, we’ll initiate the formation of your new LLP. Each partner will need to sign the Limited Liability Partnership Deed to complete this step
Your LLP incorporation will be completed within 4 business days. We’ll deliver the LLP Registration Certificate along with all associated documents. Additionally, we’ll guide you on routine and annual compliance obligations to ensure your LLP stays compliant moving forward.
Checklist of Documents for LLP Formation
Limited Liability Partnership Formation the following documents are essential:
- Partner’s Photograph
- PAN Card of partners
- Aadhar Card, or Passport/Election Card/Driving License
- Latest Bank Statement of partners
- Phone Number and Email of partners
- Recent Utility Bill for registered office address
LLP Formation Services in Your Area – Starting at Rs. 8000
We specialize in LLP Formation in across India, offering a complete package that includes:
- Name reservation
- Registration process
- Agreement drafting
- Government fees
- PAN and TAN applications
- PF and ESIC registration
- MSME registration
- DIN for directors
- DSC for partners
- Bank account setup
- Form-3 filing
LLP Formation: Frequently Asked Questions
An LLP is a legal business structure that combines the benefits of both a partnership and a corporation. It provides limited liability to its partners, meaning their personal assets are protected, while allowing them to share the profits and management of the business.
Key advantages of an LLP include limited liability protection, flexibility in management, no requirement for minimum capital, easy compliance, and tax benefits similar to a partnership.
The cost of LLP formation varies, but most service providers offer packages starting from Rs. 8000, including documentation, filing, and compliance support.
Yes, foreign nationals or foreign entities can be partners in an LLP, provided they meet certain conditions set by the Reserve Bank of India (RBI) and the Foreign Exchange Management Act (FEMA).