StartupGali India
Registration Package
Note: The Stamp duty of LLP Agreement is Additional as it depends upon state to state.
StartupGali India
Registration Package
Note: The Stamp duty of LLP Agreement is Additional as it depends upon state to state.
StartupGali India
Registration & Post Registration Package
Note: The Stamp duty of LLP Agreement is Additional as it depends upon state to state.
Limited Liability Partnerships (LLP) has now become the preferred form of organization among entrepreneurs. It utilizes the advantages of both the 'partnership firm' and the 'company' in a single form of structure. At least two partners are required to create the LLP. There is no upper limit to this, however. At least one LLP partner must be an Indian national citizen. All LLP's are governed by the rules of the Limited Liability Partnership Act, 2008. The LLP Agreement shall regulate the rights, duties and obligations of the partners who shall comply with all provisions of the LLP Act.
LLP is one of the easiest types of business to incorporate and manage in India. With an easy integration process and simple compliance formalities, LLPs are preferred by Professionals, Micro and Small Businesses who are family-owned or closely-owned. Since LLPs are not in a position to issue equity shares, LLP should NOT be chosen for any business that has plans to raise equity funds from Angel Investors, Venture Capitalist or Private Equity Funds.
The entire method of registering a new business is online — no need of physical copies of documents or a visit to the registrar’s department for registering business.
DOCUMENTS REQUIRED FOR LLP:
INFORMATION REQUIRED FOR LLP REGISTRATION:
Designated Partners Detail:
LLP REGISTRATION DETAILS :
What you get after LLP Registration in India:
Basic Package
Standard Package
Premium Package
ADVANTAGES OF LLP
COMPLIANCES OF LLP AFTER REGISTRATION:
We, StartupGali can register LLP for you in state Delhi, Haryana, Chandigarh(Punjab), Bhopal(Madhya Pradesh), Lucknow(Uttar Pradesh), Dehradun(Uttarakhand), Hyderabad(Andhra Pradesh), Bhubaneshwar(Odisha), Shimla(Himachal Pradesh), Mumbai(Maharashtra), Imphal(Manipur), Gangtok(Sikkim), Thiruvananthapuram (Kerela), Itanagar(Arunachal Pradesh), Srinagar(Jammu & Kashmir), Shillong(Meghalaya), Chennai(Tamilnadu), Dispur(Assam), Rachi(Jharkhand), Aizawl(Mizoram), Telangana, Patna(Bihar), Bangalore(Karnataka), Kohima(Nagaland), Agartala(Tripura), Raipur(Chattisgarh), Bangalore(Karnataka), Panaji(Goa), Jaipur(Rajasthan), Kolkata(West Bengal), Puducherry, Daman & Diu.
5-15 days (Subject to ROC Response) after receipt of all the necessary Documents, The breakup of the Number of days for company registration in India is as follows :
| Activity | Days |
|---|---|
| Taking Digital Signature of Partners | 1-2 Day |
| Taking Designated Partnership Identification Number (DPIN) | 1 Day |
| Reservation of the name of the LLP | 6-7 Days |
| Preparation of other documents Forms etc. | 1-2 Days |
| Filling of documents with Authorities | 1-2 Day |
| Getting Final Certificate of Incorporation | 5-7 Days |
| Total Number of Days | 15-20 Days |
1. What's a LLP (Limited Liability Partnership?
2. Who can be a “Designated Partner”?
Every LLP Registration shall be required to have at least two designated partners who shall be individuals and at least one of the designated partner shall be a resident of India.
In case of a LLP in which all the partners are bodies corporate or in which one or more partners are individuals and bodies corporate, at least two individuals who are partners of such LLP or nominees of such bodies corporate shall act as designated partners.
However following shall be consider as disqualification to appoint as Designated Partner :
3. Whether audit of all LLPs would be mandatory?
Any LLP in India whose annual turnover exceeds Rs. 40 Lakhs or the total contribution of its partners exceeds Rs. 25 Lakhs is required to have its accounts audited every financial year. Provided that the partners of the LLP may not agree to audit the accounts of the LLP, the LLP shall include in the Statement of Account and Solvency a declaration from the partners that the partners accept their responsibility for compliance with the provisions of the Act and the Rules with regard to the preparation of the books of accounts and the certificate in the form of the LLP.
4. IS LLP Concept is New in india? Do LLP Like entities are also available in other countries?
The LLP structure is available in countries such as the United Kingdom, the United States of America, various Gulf countries, Australia and Singapore. On the advice of experts who have reviewed LLP legislation in different countries, the LLP Act is broadly based on the UK LLP Act 2000 and the Singapore LLP Act 2005. Both of these Acts allow the formation of LLPs in a corporate form, i.e. as a separate legal entity, separate from its partners / members.
5. Is FDI permitted in the LLP? If yes, then who can invest as an FDI in LLP?
The recent FDI standards and policies of the Government of India, in particular those announced in November 2015, allow NRIs and Foreign Nationals / Investors to convert up to 100% FDI into certain specified economic sectors in Indian LLPs through the Automatic Route. Some provisions have also been made effective for the easy, rapid and smooth establishment and management of LLPs by NRIs and Foreign Investors, in particular where the annual sales turnover is less than INR 40 Lac or where the capital contributed is less than INR 25 Lac.
6. What is the Difference between LLP & "Traditional Partnership Firm"?
"Traditional Partnership Firm" means that each partner is responsible, along with all other partners, and even severally, for all the firm's acts carried out when he is a partner.
– Under the LLP arrangement, the responsibility of the partner is limited to its agreed contribution. Furthermore, no partner shall be responsible for the unilateral or illegal actions of the other partners, thereby allowing the individual partners to be excluded from mutual liability arising out of negligence or abuse by another partner.
7. Can an Traditional partnership firm be converted into LLP?
Any current partnership firm wishing to move to LLP will need to apply through Form 17 (Application and Statement for the Transfer of a Partnership to LLP. Form 17 must be submitted along with Form 2 (Incorporation Paper and Subscriber Statement)
8. What are the tax policies of the LLP?
LLPs are treated as Partnership Firms for tax purposes. Minimum Alternate Tax and DDT shall not apply to LLPs in India. A private limited or public limited company is subject to a DDT of up to 15% (plus surcharge and education). The taxes applicable to the LLP in India are as follows:
9. What are the Provisions or Content Covered in LLP Agreement?
The Provisions of an LLP agreement includes
10. What is the difference between a partner and a designated partner?
Both the designated partners and the partners are categorized differently. The designated partners are more responsible than the partners. They are responsible for day-to-day business activities as well as for all regulatory and legal compliance. Furthermore, the rights and responsibilities of the partners can be shared by entering into an agreement.
