Benefits of a Limited Liability Partnership
The following are the main reasons why people prefer an LLP form for their business structure:
Limited Liability
The members of an LLP are only responsible for a small portion of its debt. In contrast, the personal assets of proprietors and partners are not protected if a sole proprietorship or partnership goes bankrupt.
Separate Legal Entity
A LLP is a distinct legal entity from its partners. It has a continuous existence that results from perpetual succession, i.e., the partners may quit but the firm continues to exist. For the firm to dissolve, both parties must agree on the terms of dissolution.
Flexible Agreement
Transferring ownership of an LLP is also straightforward. A person can readily become a designated partner, at which point the ownership is transferred to them.
Suitable For Small Business
LLPs with less than 25 lakhs in capital and less than 40 lakhs in annual revenue do not require formal audits. Consequently, registering as an LLP is advantageous for small firms and startups.
Eligibility Criteria
To qualify for registration as an LLP, the following requirements must be met:
Documents Required for LLP Registration - Mumbai
To register a limited liability partnership, you must submit scanned copies of the following documents:
From partners:
Note: One partner is responsible for self-attesting the first three documents. For foreign nationals and NRIs, all documents must be notarized (if in India or a non-Commonwealth country) or apostilled (if from a commonwealth country).
For the registered office:
How to Register an LLP with GSTe-Services - Mumbai
Online LLP registration is possible via GSTe-Services. While we make LLP registration a three-step process for you, the actual registration procedure is complex and is described in detail below.
Step 1: Obtaining DSC And DIN
All forms that must be submitted online require the DSC of the directors. Therefore, the first step is to obtain DSCs and DINs for two couples. We collect the relevant data from you and file it on their behalf.
Step 2: Application For Name Approval
We check if the name you want to register under is available and reserve it for your LLP at the same time. You can verify the availability of a name on the MCA portal.
The registrar will only approve the name if the central government does not think it objectionable. The name should not resemble any existing partnership firms, limited liability partnerships (LLPs), trademarks, or corporations.
Step 3: LLP Agreement
The following stage is to draught the LLP agreement and other registration documentation. In a limited liability partnership, an LLP agreement is significant because it establishes the rights and responsibilities of the partners and the relationship between the LLP and the partners. Thus, our professionals draught this agreement with the utmost care.
The partners join into the LLP agreement upon registering the LLP through the MCA site by filling Form 3 online. This step must be completed within 30 days of the incorporation date.
Step 4: LLP Incorporation Certificate
Our team will submit the required forms and paperwork to the registrar. As soon as the registrar confirms all of the papers and documentation, you have your LLP incorporation certificate and are nearly ready to begin conducting business.
Step 5: Apply for Your PAN, TAN, & Bank Account
As soon as you receive the certificate of formation, we will apply for the LLP's PAN, TAN, and bank account.
Limited Liability Partnership Registration Package Mumbai
The following are included in GSTe-Services’s LLP registration package:
We also assist with:
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Limited Liability Partnership Registration Mumbai
We have team of CA, CS, Lawyers experts in the field of Accounting & Taxation handling Limited Liability Partnership Registration for you.