Limited Liability Partnership (LLP)

Rs.12,990.00

Limited Liability Partnership is one of the easiest form of business to incorporate and manage in India.

Limited Liability Partnership (LLP)

Price: Rs.12,990.00

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Limited Liability Partnership (LLP) was introduced in India by way of the Limited Liability Partnership Act, 2008. The basic purpose behind the introduction of Limited Liability Partnership (LLP) is to provide a form of business entity that is simple to maintain while providing limited liability to the owners.

The main advantage of a Limited Liability Partnership over a traditional partnership firm is that in a LLP, one partner is not responsible or liable for another partner’s misconduct or negligence. A LLP also provides limited liability protection for the owners from the debts of the LLP. Therefore, all partners in a LLP enjoy a form of limited liability protection for each individual’s protection within the partnership, similar to that of the shareholders of a private limited company. However, unlike private limited company shareholders, the partners of a LLP have the right to manage the business directly.

LLP is one of the easiest forms of business to incorporate and manage in India. With an easy incorporation process and simple compliance formalities, LLP is preferred by Professionals, Micro and Small businesses that are family-owned or closely held. Since, LLPs are not capable of issuing equity shares, LLP should not be used for any business that has plans for raising equity funds during its lifecycle.

The average time taken to complete company formation is about 7-10 working days, subject to government processing time and client document submission. Get a free consultation for Limited Liability Partnership registration and business startup by scheduling an appointment with a TaxFino Expert.

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Benefits

  • Separate Legal Entity with Perpetual Existence

  • Limited Liability of Partners

  • Preference by Banks and Financial Institutions
    for Loan/Finance

  • Eligible for Startup India Plan
  • No Tax for 3 Years if recognized under
    Start-Up India Plan

Eligibility

To incorporate a Limited Liability Partnership a minimum of two persons are required over the age of 18 years with at least one person being an Indian citizen and resident.

OUR PRICING PLANS

Pricing Package Comparison

Limited Liability Partnership (LLP) Plan
  Rs.7,990
Certificate of Incorporation Yes
LLP Agreement Yes
Name Approval Yes
Digital Signature for 2 Director Yes
Director Identification Number (DIN) for 2 Directors Yes
PAN Yes
TAN Yes
Government Charges Included Yes
Stamp Duty Included (except Madhya Pradesh & Punjab) Yes
Assistance with Bank Account Opening Yes
Regular Compliance Updates Yes
Email & Telephonic Support Yes
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Documents

FAQ

Do you have Any Question?

A Limited Liability Partnership (LLP) is a hybrid of Partnership Firm and Private Limited Company, with limited liability of Partners (unlike a Partnership Firm).

In case of a Partnership Firm, partners are personally liable for the debts and obligation of the firm, i.e. their personal assets can also be used for paying the firm’s dues. However in case of LLP, the liability of partners is limited.

There is no minimum capital requirement. LLP can also be started with a capital of Rs.100

Minimum 2 Persons are required to form an LLP.

Yes, an NRI or foreign national can become Designated Partner in the Company, but there should be at least one Designated Partner who is Resident of India.

No, you can also start an LLP declaring your residential premises as registered office of the LLP for all correspondence.

Yes, a rented house/office can be registered office of LLP. You just need an NOC from owner to use the premises as registered office (We will draft the NOC for you).

No, you just need to share scanned copy of documents.

No, your physical presence is not required during the process.

Yes, stamp duty is charged by the state in which your LLP’s registered office is located. This stamp duty is included in the package.

A Digital Signature establishes identity of the signer, therefore the Ministry of Corporate Affairs (MCA) requires filing of incorporation documents and some of the other documents using Digital Signature. Therefore Digital Signature is required for every Designated Partner of an LLP.

Yes, you can convert existing Partnership Firm to LLP. There are many advantages of converting partnership firm to LLP.

Yes, you can convert existing Private Limited Company to LLP. However, you cannot convert LLP to Private Limited Company

LLPs are required to file an annual filing with the Registrar each year. However, if the LLP has a turnover of less than Rs.40 lakhs and/or has a capital contribution of less than Rs.25 lakhs, the financial statements do not have to be audited.

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