Start a Limited Liability Partnership Company
5 SIMPLE STEPS
to Start Limited Liability Partnership in India
Arrange basic documents of Partners
BMC will apply for DSC (Digital Signature) of Partners
BMC will Prepare other Legal documents
BMC will File Incorporation Docs with ROC
Get your LLP Incorporation Certificate
for LLP Registration
Minimum 2 Partners
If a body corporate is a Partner, it has to nominate a natural person as its Nominee
There is no concept of share capital, but each Partner has to contribute towards capital of LLP
DIN (Director Identification Number) for all the Designated Partners
DSC (Digital Signature Certificate) for 2 Promoters & 1 witness
DSC (Digital Signature Certificate) for all the Designated Partners
Address proof for office of LLP
ADVANTAGES & BENEFITS
Why to Register LLP
Limited Liability Protection to Partners personal assets
Many times startups need to borrow money and take things on credit. In case of normal Partnerships, Partners personal savings and property would be at risk incase business is not able to repay its loans. In an LLP, only investment to start a business is lost, personal assets of the Partners are safe.
Better image and credibility in Market
Limited Liability Partnership (LLP) is a popular and well known business structure in the world. Corporate Customers, Vendors and Govt. Agencies prefer to deal with LLP instead of proprietorship or normal partnerships.
Continuity of Business
LLP continues to exist beyond the existence of its Partners. This is not possible in traditional partnership firms.
No Audit Requirement & Minimal Compliances
LLP is easy to manage and statutory audit is not required for Limited Liability Partnership. LLP is most ideal for small enterprises. Tax Audit is also not required for LLPs with capital less than Rs. 25 lac and turnover not exceeding Rs. 40 lac.
WHAT ALL YOU GET
with Company Registration
DIN for 2 Partners
Digital Signature for 2 Partners
LLP PAN Card
LLP TAN/TDS Number
Frequently Asked Questions.
Here are some common questions about LLP.
1. What documents required to set up LLP in India?
You need to arrange very simple documents of directors like photograph, Pan card and one address proof. For more details, please fill the above details and Get Started Now.
2. Do I have to have office (commercial) space to start a Company?
No,Commercial office space is not required. You can show your own residential or rented home address as the registered office address of the Company. This office address can be changed at any time after incorporation of the company. Once your startup is set up, stable and ready to move on to a nice corporate space you can change the registered office address by informing to the ROC office
3. Who is Registrar of Companies (ROC)?
ROC is a Government office with whom companies get registered. Every State has one ROC office except Maharashtra and Tamilnadu where there are two ROC offices. In Maharashtra companies are registered with Mumbai & Pune ROC. In Tamilnadu companies are incorporated at Chennai and Coimbatore ROCs. In all other States like Delhi there is only one ROC office, like at Bangalore, Hyderabad and so on.
4. Do I have to physically visit ROC Office while Setting up company?
No. StartupMates provides complete online Company Incorporation process. All legal documentation with ROC and visits are done by StartupMates.
4. Is LLP Incorporation to be renewed every year?
No. Once the company is formed, it will be valid till it is officially closed down by the owners. No renewal or fees is required. However, every year companies have to file very basic returns with ROC office
6. What is a DIN?
Director Identification Number (DIN) is a unique identification number required for a person to become a director of a company. DIN is issued by ROC office (Ministry of Corporate Affairs) It is similar to a PAN Card number.DIN is to be mentioned in documents while appointing a person as a director of a company.
7. What is a DSC?
A digital signature is electronic signature, which is in the form of codes. It is used for signing the electronic forms, filed with ROC for incorporation of Company. Digital Signature cannot be used in physical documents.
8. What is LLP Agreement
LLP Agreement is byelaws or rules based on which important matters like main business of the LLP, capital or meetings is decided. This is a standard legal document prepared by Company Secretaries during registration of LLP.
10. Can we change office address of the company after Incorporation?
Yes, company office address can be changed anytime after incorporation.