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LIMITED LIABILITY PARTNERSHIP REGISTRATION

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KNOW ALL ABOUT LIMITED LIABILITY PARTNERSHIP REGISTRATION

What is LIMITED LIABILITY PARTNERSHIP ?


LLP refers to Limited liability partnership and is governed by Limited Liability Partnership Act 2008. Limited Liability partnership provides advantage of limited liability to its owners and at the same time requires minimal maintenance. The directors of a private limited company have limited liability to creditors. In case of default, banks / creditors can only sell company’s assets and not personal assets of directors.

LLP Registration can be done through Virtual Auditor in Delhi NCR, Mumbai, Bengaluru, Chennai and all other Indian cities.

Choose LLP because

  • Dual advantages- Company and a Partnership
  • No partner will be responsible for other partner’s misconduct
  • Cheaper to incorporate than a private limited company
  • Limits the liabilities of its partners

Register For GST

 
 
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Company Registration Package

DIN for 2 Directors

Digital Signature Token

Company Name Approval

MOA + AOA

Incorporation Certificate

New Incorporation Kit

Company PAN Card

Company TAN/TDS Number

PROCEDURE FOR COMPANY REGISTRATION?

Complete our Simple Form

 
You need to fill our simple company registration questionnaire and submit documents.
 

START

Obtain DSC and DIN from us

 
After submitting your documents we will provide you with DSC and DPIN.
 

1 WORKING DAYS

Verification and Name Approval

 
Details provided by you will be verified and then we shall apply for name approval.
 

1 WORKING DAYS

Document Submission

 
We will create all the required documents and file them with ROC on your behalf.
 

2 WORKING DAYS

DOCUMENTS REQUIRED FOR COMPANY REGISTRATION?

TO BE SUBMITTED BY DIRECTORS & SHAREHOLDERS

    • Scanned copy of PAN Card or Passport (Foreign Nationals & NRIs)
    • Scanned copy of Voter’s ID/Passport/Driver’s License
    • Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
    • Scanned passport-sized photograph
    • Specimen signature (blank document with signature [directors only])

FOR THE REGISTERED OFFICE

  • Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
  • Scanned copy of Notarised Rental Agreement in English
  • Scanned copy of No-objection Certificate from property owner
  • Scanned copy of Sale Deed/Property Deed in English (in case of owned property)
 

ADVANTAGES OF LLP?


There are multiple reasons to choose LLP:

  • Separate Legal Entity

    A LLP is a legal entity and a juristic person established under the Act. The partners are distinct from the entity and both can sue each other and get sued in the process.

    Uninterrupted Existence

    A LLP has ‘perpetual succession’, that is continued existence until it is brought on the terms of the dissolution by mutual agreement within the partners. Partners may come and go, but an LLP goes on.

    Audit not Required

    Entrepreneurs earning a turnover of less than 40 Lakhs and capital contribution of less than 25 Lakh need not get their accounts audited .Therefore, LLPs are ideal for startups and small businesses that are just starting their operations and want to have minimal regulatory compliance related formalities.

    Easy Transferability

    The ownership of a LLP can be easily transferred to another person. All you need is to induct them as a Designated Partner of the LLP. LLP is a separate legal entity separate from its Managing Partners, so by changing the Managing Partners, the ownership of the LLP can be changed.

    Owning Property

    An LLP being a juristic person, can acquire, own and enjoy property in its own name. And this is entirely distinct from its partners. No Partner can make any claim upon the property of the LLP so long as the LLP is a going concern.

    Limited Liability

    The biggest advantage is Limited Liability, which means the status of being legally responsible only to a limited amount for debts of a LLP. Unlike proprietorships and partnerships, in a LLP the liability of the members in respect of the LLP’s debts is limited. The personal assets of the directors are safe if the company goes bankrupt.
    So it’s entirely a win –win situation for you if you plan to step to head forward with a suffix LLP.

     
     

5 STEPS FOR COMPANY REGISTRATION


1. Application of DSC & DPIN:

First of all, the partners have to apply for Digital signature and DPIN. Digital signature is an online signature used for filing and DPIN refer to Directors PIN number issued by MCA. If the directors already have DSC and DPIN, then this step can be skipped.

2. Name approval:

You need to provide 3 different options for your company name to MCA of which one will be selected. Names provided should ideally be unique and suggestive of company business

3. MOA & AOA submission:

Once name is approved, one needs to draft Memorandum of association and Articles of Associate. Both MOA and AOA are filed with the MCA with the subscription statement and

4. Get incorporation certificate:

It typically takes 4-5 days to form a LLP and get the incorporation certificate. Incorporation certification is a proof that company has been created. It also includes your CIN number.

5. Apply for PAN, TAN and Bank account:

Then you need to apply for PAN and TAN. PAN and TAN are received in 7 working days. Post this, you can submit the Incorporation certificate, MOA, AOA and PAN with a bank to open your bank account.

CONCERNS RELATED TO LLP


  • LLP is a separate legal entity that gives the benefit of limited liability of company plus the flexibility of partnership, wherein no partner is held liable on account of other’s partner misconduct and their rights and duties to be governed by LLP agreement. Limited Liability Partnership has been introduced in India by way of Limited Liability Partnership Act, 2008. The basic premise behind the introduction of Limited Liability Partnership (LLP) is to provide a form of business organization that is simple to maintain while at the same time providing limited liability to the owners.

     
     

FACTORS TO CONSIDER IN COMPANY NAME SELECTION


The name of your company is very important. It is the first impression to your buyers, suppliers and stakeholders. It should, therefore, be relevant, suggestive and attractive. There are various factors that you should keep in mind while naming for your company

Short & Simple

The name should be concise and not be too long. People should be able to pronounce it easily and they should be able to remember your company’s name the first time they hear or read it.

Meaningful

The name of your company should be related to your business. It should fit the company’s branding. For example, Infosys refers to information systems or IT technologies.

Unique

Name of your company should not be same or identical to an existing company or trademark. You can go to search.virtualauditor.in to check if your company name is identical to others. You should ideally avoid plural version e.g., “Flipkart’s” or changing just letter Case, spacing or punctuation marks in an existing company name

Suffix

The name of your company should end with the suffix “Private Ltd” in a case of a Private limited company and “LLP” is a case of a limited liability partnership.

Should not be illegal / offensive

The name of your company should not be against law. It should not be abusive or against the customs and beliefs of any religion.

What our clients have to say?

1500+ Happy customers trust VirtualAuditor Services

ABILYTICS TECHNOLOGY PRIVATE LIMITED
ASHISH SHEENA SUVARNA

“Work was done within 5 days and follow up was so proper”

EVER CARGO LOGISTICS PRIVATE LIMITED
NITHYANANDAM SURESH BABU

“I am Sosatisfied and well done”

juzzlip private limited
gowtham arunkumar

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MIND SHARE LEARNING SOLUTIONS
VIJAY

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