Legal Advisory Firm and Business Registration: LLP registration
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    • Showing posts with label LLP registration. Show all posts
    Showing posts with label LLP registration. Show all posts

    Friday, May 10, 2019

    Simple 5 Steps of LLP Registration Process in India

    May 10, 2019 1
    Simple 5 Steps of LLP Registration Process in India
    Now, limited liability partnership (LLP) is a crucial to start a small business. It allows businesses to maintain their organization entity.  It also assists partners to manage business easily.   It is used for people those who operating micro, small and medium business. It gives legal responsibility to businesses. LLP registration might be performed online by the majority of businesses. It takes only a few minutes to complete the registration process. The limited liability registration process is performed with simple formalities. In the following content, you might explore how LLP Registration process will be done online. 

    Document required:

    Documents differ for LLP and partners. If you want to register your business with LLP, you must have essential mandatory those assist you to complete registration process elegantly.  Here you might view document need for LLP registration. 

    Documents of LLP:
    • Digital signature certificate 
    • Address proof of the organization 

    Documents of partners:
    • Address proof of partners 
    • Identity proof
    • Residence proof
    • Photograph
    • Passport is needed for NRIs

    LLP Registration process
    How to register LLP online:

    Registering LLP online helps people to finish registration hassle free. If you don’t know how to make the registration process then follows below steps

    Step 1:
    Before registering for LLP, you need to apply for DSC (digital signature certificate). This certificate is designed for a person who likes to apply for LLP registration. It is issued by the government certifying agency. It is an important document to undergo this registration. All essential documents are filled through online. 

    Step 2:
    You have to apply for DPIN for designated partners.  This application is done with form DIR-3 online. You must have to attach scanned copies of Pan Card or Aadhar card in the form. 

    Step 3:
    You just reserve name of LLP with central registration center.  It helps you to choose a unique name. If you get approved of LLP name, then you should fill form RUN LLP.  

    Step 4:
    • Now, you have to fill FiLLiP (a form of incorporation of limited liability partnership). 
    • Pay amount of application depend on annexure A
    • You might apply for DPN with the incorporation form.  It is applicable only for two individuals. 
    • Fill the name of the LLP

    Step 5:
    • File LLP agreement is entered in form 3. You must have to fill the form within one month. 
    • You just print agreement on the stamp paper.

    So, you just consider these LLP Registration process and complete registration with no hassle. 

    Advantages of getting LLP:

    LLP offer protection to owners and partners. It assists business owners to operate the company easily. It allows businesses to reduce money of business operations. 
    • Limited liability partnership is protecting all your sensitive assets by the liabilities. It offers a unique legal entity to you. 
    • It assists you to lease, rent, buy and own property with no legal issues. 
    • It gives more profits and flexibility operation in your business. It offers great business management to you. 
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    Friday, April 19, 2019

    Know about the LLP Registration Procedure

    April 19, 2019 0
    Know about the LLP Registration Procedure
    Before we know about the procedure of LLP registration, we need to know what LLPs is.

    In general terms, LLP means Limited liability partnership. A limited liability Partnership (LLP) is considered as a partnership in which some or all partners have limited liability. LLP is a body corporate formed and incorporated under the Limited Liability Partnership Act, 2008. LLP is a legal entity separate from its partners.

    In this blog, we discuss what is LLP, features of LLP, advantages of LLP, registration of LLP and all other necessary aspects of LLP?

    What is LLP all about?
    Limited liability partnership (LLP) is a combination of both corporation and partnership. In an LLP, each partner is not responsible or liable for the misconduct of another partner's. LLP is an alternative corporate business form which gives the benefits of limited liability of a company and the flexibility of a partnership. LLP is a legal entity that liable for the full extent of its assets.  In LLP, the liability of partners is limited. In India, LLP was introduced in April 2009. 

    Salient features of LLP

    List of the features of LLP is listed below:
    1) A body corporate - As per section 3 of the Limited Liability partnership act, 2008, LLP is a body corporate formed and incorporated under the Act. It is a legal entity separate from its partners.
    2) Perpetual Succession - LLP can continue its existence even after the retirement, death, and insolvency of one or more partners.
    3) Separate Legal entity - LLP is a separate Legal entity and it is completely liable for its assets.
    4) Artificial Legal Person - For all legal purposes, LLP is an artificial legal person. LLP is created by a legal process and has all the rights of an individual.
    5) Management of Business - The partners of LLP can manage its business. However, only the designated partners are responsible for legal compliances.

    What are the advantages of LLP?

    The list of the advantages of LLP is given below:
    1) Non-requirement of Minimum contribution - There is no need of minimum capital requirement in LLP. LLP can be formed with the least possible capital.
    2) No limit on owners and partners- LLP needs a minimum number of 2 partners, however, there is no limit on the maximum number of partners.
    3) Lower registration cost - The cost of LLP registration is low as compared to the cost of incorporating a private limited company or a public limited company.
    4) Non-requirement of compulsory audit - All companies like private and public companies are required to get their accounts audited. But, in case of LLP, there is no mandatory requirement of compulsory audit
    5) Easy to dissolve - It is so easy to dissolve an LLP.
    6) Exempt from Taxation - LLP is exempted from various taxes such as dividend distribution tax and minimum alternative tax. The rate of tax on LLP is less than as compared to the company.


    Procedure for Registration of LLP:

    The procedure for registration of LLP is given below:
    1) Procure Digital Signature Certificate - Every form or application requires to be signed digitally by the applicants and partners of the LLP. Digital Signature Certificate with the validity of 2 years is procured for the designated partners of the LLP. Digital Signature Certificate needs to be associated with the PAN card of the applicant.
    2) Director Identification Number - You have to apply for the Director Identification Number of all the designated partners or those who intend to be designated partner of the proposed LLP. In the application for allotment of Director Identification Number, scanned copy of documents like aadhaar and pan card has to be attached.
    3) Reservation of name - Next step is reservation of name. LLP reserve unique name requires to be filed for the reservation of name of proposed LLP which shall be processed by the Central Registration Center 
    4) Filing of Incorporation form of LLP - Form used for incorporation of LLP shall be filed with the registrar who has jurisdiction over the state in which registered office of the LLP is situated.
    5) Filing and drafting of LLP agreement - The next step is to draft LLP agreement carefully. The name, business, object, place of business and all other details of LLP will require to be placed in the agreement.

    Documents Required for LLP Registration

    List of the documents required for LLP registration is given below:
    1) PAN card of the partners.
    2) Utility bill of the proposed registered office of the LLP
    3) No objection certificate from the landlord, if any
    4) Residence proof of the partners
    5) Digital Signature Certificate.
    6) Photograph of the partners
    7) Passport of the partners (in case of foreign nationals/NRIs)

    Enterslice provides best service in matter of LLP registration. Keep in touch with one of its consultant to get best service of LLP registration within a reasonable time. 
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