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Partnership / LLP Registration

What is Partnership registration

A partnership is a type of business entity in which partners (owners) share with each other the profits or losses of the business undertaking in which all have invested carried on by all and anyone of them acting for all, in accordance with the terms and goals set out in partnership deed.

Why choose Parnership firm

01

Easy to set up

02

More capital can be brought into business

03

Minimum compliance requirement

04

Decision making can be much easier with more brain to think about a problem

05

Partners bring new skills and ideas to a business

Documents required for registration of partnership

  • Photograph of Partners
  • Pan card of Partners
  • Proof of Identity (Aadhar Card/ Driving license/ Voter ID/ Passport)
  • Address proof of Partners
  • Email id and Phone Number with Occupation and Education qualification
  • Object of Firm
  • Partnership Share pattern
  • Address proof of firm
  • Firm Name and Nature of Business

Limited Liability Partnership Registration (LLP)

LLP is an incorporated partnership formed and registered under the Limited Liability Partnership Act 2008 with limited liability and perpetual succession. The Act came into force with effect 1st April 2009. It is a body corporate with distinct legal entity. It is applicable to any trade or business. It is created by minimum 2 partners. The main edge of this is than one partner is not liable for another partner’s misconduct or negligence.

Why choose LLP

01

Separate legal Entity from its members

02

Greater flexibility in management of business

03

Dual advantage -> Company & Partnership

04

Limited Liability of Partner

05

Cheaper to incorporate than a Private Limited Company

What is Included in our LLP registration package

  • Digital Signature Certificate for 2 partners
  • DIN for 2 partners
  • Name Search & Approval
  • ROC fee & PAN card
  • Certificate for Incorporation
  • DSC for 2 partners
  • LLP Agreement
  • Free Accounting Software

Documents required for LLP registration

  • Photograph of the Applicants
  • PAN card of applicants
  • Proof of Identity (self attested)- passport/driving license/Aadhar/voter Id
  • Proof of Residence (self attested)- Bank statement/Mobile Bill/ Telephone bill/Electricity Bill - not older than 2
  • Email id, Mobile Number, Occupation, Education qualification, place of birth of all Applicants
  • Proposed name of LLP with the significance of the name
  • Proof of Registered office address - Bank statement/Mobile Bill/ Telephone bill/Electricity Bill - not older than 2 months
  • NOC from owner- I will share the format
  • Object of the LLP Firm
  • Partnership Percentage pattern of each applicant

Advantages of LLP Registration

  • Convenient formation with minimum contribution- with no minimum capital required for formatted LLP make it easy for the partner to join hand even with the least capital.
  • No limit on the number of Business owners- There is no limit on the maximum number of partners in LLP can have.
  • Liability- LLP exist as distinct legal structures from the owners.
  • Capacity to sue- An LLP can sue its name and also vulnerable to be sued by others. The partners are not liable to be sued for dues against the LLP.
  • Low cost of Registration- As Registration process is quite simple and average time is required for registration process to be completed around 15-20 days.
  • Audit not mandatory- Tax audit are done in LLP where the annual contribution exceed 25 lakh and the annual turnover exceed 40 lakh.