All About Limited Liability Partnerships

Hemapriya kanakkupillai

All About Limited Liability Partnerships

Two or more persons can associate for carrying out any lawful business with a view to profit. They have to file incorporation document, containing prescribed details like name, proposed business, address of registered office, name and address of partners, name and address of designated partners and other information as may be prescribed by rules

Incorporation document

For a limited liability partnership to be incorporated –

(a) two or more persons associated for carrying on a lawful business with a view to profit shall subscribe their names to an incorporation document

(b) the incorporation document shall be filed in such manner and with such fees, as may be prescribed with the Registrar of the State in which the registered office of the limited liability partnership in India is to be situated; and

(c) there shall be filed along with the incorporation document, a statement in the prescribed form, made by either an advocate, or a Company Secretary or a Chartered Accountant or a Cost Accountant, who is engaged in the formation of the limited liability partnership and by any one who subscribed his name to the incorporation document, that all the requirements of the LLP Act and the rules made thereunder have been complied with, in respect of incorporation and matters precedent and incidental thereto – section 11(1) of LLP Act.

Procedure for Incorporation of LLP

Two partners to be designated as ‘designated partners’ should apply and get DIN (Director Identification Number) from Central Government by applying electronically in form No. 7 and subsequently sending physical forms.
The designated partners should obtain Digital Signature Certificate (DSC) Class II or above from a Certification Agency (CA).
User registration – Register DIN and DSC with LLP by visiting www.llp.gov.in.
Check name availability which is available on the aforesaid website
Apply for reservation of name in form RUN-LLP. Alternatively, application for reservation of name can be made along with incorporation document in form FiLLiP [Form for incorporation of LLP registration online]
After obtaining reservation of name, fill up form FiLLiP [Form for incorporation of Limited Liability Partnership] It has to be digitally signed by designated partner and a professional (advocate/practising CA/CS/ICWA). Upload the form and pay fees electronically.
LLP will be incorporated by ROC and registration certificate will be granted by Registrar of Companies (ROC) in form No. 16
File form 3 (Information with regard to LLP Agreement) and form 4 (Notice of appointment of partner/designated partner) electronically with fees. The details can be submitted either with form FiLLiP [Form for incorporation of Limited Liability Partnership] itself or within 30 days of date of incorporation. If not submitted within 30 days, additional fees would be payable.
Send original copy of LLP Agreement which is duly stamped.
LLP is now ready for commencing business.

Hemapriya kanakkupillai

LLP Registration - RegisterExperts

Limited Liability Partnership is a mixture of partnership firm and a company.

It has the features of both company and firm.

In LLP the liabilities of the partners are limited but in partnership the liabilities of partners are unlimited.

In today's time, the LLP registration is a very popular business option between small or medium organisation and professionals, because the burden of compliances is very low.

Our charges are very reasonable for LLP registration and compliances.

Limited liability partnership

nandha@ Kanakkupillai 2021-09-23

As the name suggest,Limited liability partnership, or LLP is a kind of partnership firm wherein some or all the partners possess limited liabilities depending on the type of jurisdiction. LLPs are a flexible legal and tax entity that allows partners to benefit from economics of scale by working together while also reducing their liability for the actions of other partners. Having business partners means spreading the risk, leveraging individual skills and expertise, and establishing a division of labour. Benefits of Limited liability partnership: Low cost and less compliance NO requirement of minimum capital contribution The number of partners Taxation Aspect on LLP. It is easy to start and manage a business like entrepreneurs The operation of the partnership and distribution of profits is determined by written agreement between the members Procedure to register a company online: Step 1: Fill up a form Step 2: Make online payment Step 3: Our executive person will process the application Step 4: Get confirmation on mail Step 5: Start-up a private limited company Registration process of a Limited liability partnership online: Apply for digital signature certificate of the designated partners of the llp Apply for din of director identification number for all the designated partners Apply for checking name availability and applying for the name availability. Partners Identity Proof such as Aadhar card and Voter ID / Passport / Driving License.

Borrowing Clause of an LLP agreement-Details To Included

Ishita Ramani 2023-08-12

What information should be included in an LLP agreement's borrowing clause? In the LLP agreement, the partners should include a borrowing clause. What is an LLP agreement borrowing clause? What information should be included in an LLP agreement's borrowing clause? The following language should be included in an LLP agreement's borrowing clause:Allows partners to borrow funds for the LLPAn LLP agreement's borrowing clause permits the partners to borrow money from banks, financial institutions, and other institutions. Conclusion To protect the firm's assets, an LLP agreement must include a borrowing clause.

Can a designated partner in an Indian LLP (Indian) possess no ownership?

sameer gupta 2022-12-16

The limited liability partnership also known as llp registration online offers the benefits of a limited liability corporation as well as the flexibility of the partnership. What are the requirements to be a Designated Partner within the LLP? Every LLP should have at minimum one Indian citizen as a partner designated. What Documents Must You provide from a designated partnerDIN of the designated partnerProof of address and name of the person who will be designatedPAN of the partner designatedConsent to be a designated partner (in Form 9)Details of any other partnerships/directorship, if engaged in any. Can an LLP designated Partner Manage No Ownership?

What are the key things to know when registering an LLP? - Le Intelligensia

Leintelligensia 2022-12-31

Simplicity:Compared to the administrative process of founding a private limited company, forming a limited liability partnership (LLP) and maintaining it is pretty simple. A Limited Liability Partnership can be included if a Consultant for a Limited Liability Company in Bangalore submits the relevant information on the Ministry of Corporate Affairs website. To establish a limited liability partnership (LLP), you are required to fulfil the possible requirements that are given below:Designated Partners:A Limited Liability Partnership should have at least two and no more than 200 Designated Partners. You need at least two people to start a Limited Liability Partnership through the services for limited Liability company registration in Bangalore. There should be at least two Designated Partners in a Limited Liability Partnership and no more than 200.

LLP Company Registration- Benefits, Checklist, Documents Required, and Process

Srishti Kapoor 2022-04-29

You have arrived at the right place, click here to know everything about LLP registration. Get your LLP company registration from best company registration consultants now. What is LLP Registration? In India, Limited Liability Partnership (LLP) was established under the Limited Liability Partnership Act 2008 (which came into effect on 31st March 2009). Consequently, LLP registration is the process of registering an LLP firm by fulfilling certain obligations.

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