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Limited liability partnership registration with IIS Consultants.

A Limited liability Partnership is a new form of business introduced in the year 2009, this is a unique form of business in the sense that it has simplicity, benefits and limited liability of the Partners. Minimum two person can form an LLP. There is no capping of maximum number of partners.

There are many advantages are available to LLP form of business over a private limited Company like there is less legal compliancesin comparison to a private limited company.

For instance audit is not required till the time turnover not exceeds INR 40 lac or capital does not exceeds INR 25 lac.

Nowadays, this is the most common form of business in India and Other countries also. Most of the person starts their business in form of LLP Company then with the growth, they moves to Private Limited Company or Public Limited Company.

Limited liability partnership registration

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A self- defined process of registration of Limited Liability Partnership Company, documents required , for LLP Registration and pricing etc are given in tabs as above. We follow and maintain transparent and vital system in our office.Whichremain same for all the customers.

Minium Requirement

  1. Minimum two person as partner
  2. Minimum Capital shall be Rs. 10,000
  3. DIN for the all the Partners
  4. Digital Signature for all the partners
  5. Consent From the partners
  6. Proof of Registered Address
  7. NOC from the owner of registered office

Document Requirement

  1. Passport size photo of all the partners
  2. Pan Card copy of the all the partners
  3. Address Proof of all the partners
  4. Signature on the DSC Form
  5. Signature on Affidavit for DIN
  6. Signature on Consent form
  7. Signature on Subscriber Sheet
  • Q1. What is Limited Liability Partnership.

    Ans.Limited Liability Partnership is a form of business model which is incorporated under the LLP Act 2008. Each Limited Liability Partnership incorporated with minimum two two partners they must be the Designated Partners. All the term condition of operation are mentioned in the Partnership deed of Limited Liability. Which provide a legal pathway to do acts in the Limited Liability Partnership.
  • Q2. If any name of LLP allotted to me, Can that name be allotted to anyone else.

    Ans. Absolutely No, the name allotted to any one is a unique name and it can't be allotted to anyone else in India.
  • Q3. How can I apply for reserving LLP Name?

    Ans.The application for reservation or change of name is filed with Registrar of Companies (ROC) with minimum 1 and maximum 6 name by paying requisite fee as applicable. If the ROC satisfied himself regarding nobody have such name or name resemble to this then he select most appropriate name to be reserve. This name is reserved for 60 days from date of approval of name.
  • Q4.How many days it will take to incorporate a Limited Liability Partnership.

    Ans.Normally, It will take around 15 to 20 working days. As there are three stages are involved inincorporation of LLP.
    • Stage 1: Taking DPIN, Digital Signature and obtaining basic KYC, preparing and signing documents etc for all the Partners.
    • Stage 2: checking, filing and getting name of Limited Liability Partnership.
    • Stage 3: filing incorporation documents and getting Certificate of Incorporation.After that submitting partnership deed with ROC.
  • Q5.What is partners capital requirement for formation of Limited Liability Partnership.

    Ans.You can start a Limited Liability Partnershipwith minimum amount of capital.As there is notany requirement to show proof of capital invested during the incorporation process. Partner's Capital contribution can be in form of both tangible and/or intangible property.
  • Q6.Are there any restrictions on minimum and maximum number of partners in an LLP?

    Ans.Yes, the Minimum two partners are required but there is no limit for maximum number of partners for registration of Limited Liability Partnership.
  • Q7.What are the roles and responsibilities of "Designated Partners" in an LLP.

    Ans.A. They play's very vital roles in anLimited Liability Partnership as they are accountable for regulatory, operational and legal compliances of Limited Liability Partnership.
  • Q8.Who can be a "Designated Partner"?

    Ans.A. Any individual or body corporate can be a partner in Limited Liability Partnership and one of them must be a resident of India. Any LLP where 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.
  • Q9.Are there any requirement file any return or documents with Registrar of Companies.

    Ans.As all the Limited Liability Partnerships are governed by Registrar of Companies. Hence, it is required to file Statement of Account & Solvency and Annual Return within the prescribed time.
  • Q10.What is prescribed time to file annual return and statement of solvency regarding anLimited Liability Partnership.

    Ans.Annual Return and statement of solvency are the mirror of health of Limited Liability Partnership. Annual return is required to be filed within 60 days of close of the financial year and Statement of Accounts & Solvency shall be filed within 30 days from the end of six months of the financial year with the prescribed fees. We can also file these returns after the prescribed time but with the additional fee.
  • Q11.Whether a partner can give loan to or transact other commercial transactions with LLP?

    Ans.Yes, A Partner can lend money to and transact other businesses with the LLP. All the transaction must be on arm's length price. They partners shall have the same rights and obligations with respect to the loan or other transactions as a person who is not partner.
  • Q12.Can a partner remove or resigned from Limited Liability Partnership.

    Ans.Yes, for an LLP need a resignation letter form the concerned partner who wish to resign and the Limited Liability Partnership need to file e-form with Registrar of Companies with resignation letter with in 30 days from date of resignation along with requisite fees.
  • Q13.Can an existing Company or normal partnership firm be converted into Limited Liability Partersnip (LLP).

    Ans.Yes, it is possible. Any Company (Unlisted) or normal partnership firm can be converted into LLP. There are many vital advantages of converting apartnership firm or Company into a LLP,