Limited Liability Partnership Registration

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Limited liability partnership

• Starting registering is business is an
  important step in an entrepreneurs journey.
  Choosing the right form of business is equally
  important. Here, well guide you on LLP
  registration - what is an LLP, why should you go
  for an LLP, the registration process,
  documentation and requirements.

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What is LLP?

• A limited liability partnership or LLP is a form
  of partnership in which the partners have limited
  liability. In simpler terms, this means that you
  can have 2 or more than 2 partners in an LLP.
  Also, the partners are not liable to pay for the
  firms debts or creditors from their personal
  assets. This is a big advantage over normal
  partnership firm where partners personal assets
  like home car can sold to repay firm debts.
• LLP gives the double benefits of both
  a Company and a Partnership in a single form of
  organization where any one partner is not
  responsible for another partners misconduct or
  negligence.

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Why should you go for an LLP ?
There are less compliances and government issues.
Easy to establish, manage run.
Easy to dissolve or wind-up.
They only reason you shouldnt choose an LLP is
in case you intent to raise capital from VCs and
investors. Investors prefer to put money in
Private limited company as its easy to
redistribute shares in that form of business.
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LLP registration process?

• First of all the partners have to apply for
  Digital signature and DPIN .
• After that, you have to register for name
  approval. Name for the company should be unique
  otherwise the application would be rejected.
• After that you have to file for subscription
  statement and incorporation document.
• Apply for PAN and TAN
• At the end you have to prepare a LLP agreement
  and file with MCA

It typically takes 15- 25 days to form an LLP.
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Documents Required for LLP registration?

• You will need basic set of documents to apply for
  LLP. This includes
• PAN Card copy of Partners
• Copy of Aadhaar Card or Voter identity card
• Passport size photograph of partners
• Property papers copy (If owned property)
• Rent agreement copy Landlord NOC(If rented
  property)
• Electricity/ water bill of business place

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• Requirements for LLP Registration
• Minimum 2 Partners
• No Capital Requirement- you can start your
  company with just Rs 5000.
• At least one Indian Resident as Designated
  Partner
• DPIN for all Partners

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How to register your LLP using LegalRaasta?
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• We at LegalRaasta have helped over thousand
  companies in LLP registration. To get your LLP
  done from us, you can
• Go to our website www.legalraasta.com and select
  LLP registration.
• Fill our online questionnaire.
• Select your package. You can choose for
  additional services like trademark and salestax
  registration and pay accordingly.
• We will take care of the rest.
• Hope this was helpful. Thanks.