LLP Registration Form

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LIMITED LIABILITY PARTNERSHIP

The concept of limited liability partnership (LLP) was introduced to India in the year 2008 with the passing of the Limited Liability Partnership Act, 2008. The factor which sets LLP apart from the rest of the business structures is that, it has got the flexibility of a partnership coupled with the advantages of a company. A LLP is the preferred form of business structure for professionals, micro or small companies.

The team at HelpMyBiz is well versed with the technicalities and formalities that entail during the formation of a LLP. We also understand which business structure will suit our client according to their requirements. Contact our experts today to get assistance opening your LLP and start your business!

We follow a 3 step model for all our company formation services,

Step 1

Our expert calls you to understand your business and help you pick the most suitable business structure for you based on your requirement. We also assist you in picking a unique name.

Step 2

Apply for e-DPIN, DSC and Name approval.

Step 3

We draft a LLP agreement from our side according to your inputs. After incorporation we apply for PAN and TAN.

Definition of LLP from the book

 

BENEFITS OF A LLP

A major advantage of an LLP is that it takes the best characteristics of both partnership and company under its structure. Let us look at the advantages of a LLP in further detail.

Separate Legal Entity

A LLP is considered to be a separate legal entity incorporated by law, thus all contracts, agreements and transactions are made using the LLP firms name. This also provides scope for establishing a brand name with the service or product you provide, thus, helping gain trust and recognition by your consumers.

Limited Liability

As the name suggests the liability of the partners is limited to the extent of the assets they have contributed into the business. In an unfortunate event the business has to shut down and settle all accounts, the partners are accountable only to the extent of capital invested by them.

Low Cost and Less Compliance

When compared to private and public companies, a LLP has way less compliances and cost to deal with while setting up business. This makes it easier to manage.

Easier transfership of ownership

The terms and conditions applicable if a partner leaves or enters a LLP is clearly mentioned and explained in the LLP agreement. This makes exit and entry easier for people.

PRE PREPARATIONS REQUIRED

A Unique Name

The company needs to select a unique name for registering with the Registrar of Companies. The name cannot be similar to any other existing company out there nor infringe on any registered trademarks. It is encouraged to prepare atleast 4 names. You can search for availablity of your desired name in MCA portal.

2 Partners

You will need to have at least 2 partners in your team for forming a LLP and at least one of the partners needs to be a resident of India. If the partner is another corporate body then it needs to have a natural representative.

Registered Office

The LLP needs to declare its registered office from where it will conduct its business. It can be a partners residential address as well.

Capital Contribution

Before forming the company the partners need to decide the capital contribution ratio in between themselves.

Object

You need to prepare the object behind forming the company that is, what business activity would the company engage in after it is incorporated.

DOCUMENTS REQUIRED

Directors/Shareholders
01

Scanned Copy of Pan Card

02

Scanned Copy of Aadhar Card

03

Address proof (Bank Statement, Mobile/Telephone Bill)

04

Scanned Copy of Passport size photo

05

Phone number and email id of the shareholders

Registered Office
01

Scanned NOC (No-Objection Certificate) from the owner of the place.

02

Ownership proof (Gas Bill/Electricity Bill/Property Tax)

03

Rent Agreement – If the property is rented

REGISTRATION PROCESS FOR LLP

The process for formation of a private limited company in practicality involves many steps. However helpmybiz simplifies the process to just 3 steps for your convenience. Below we have explained the complete process that goes behind the incorporation.

 

Day 1-2

You converse with an expert knowledgeable in the field of company formation. After ascertaining your business structure, a customer relationship manager is assigned to you to help you throughout the process. He/she helps you in preparing the necessary documents and requests you to pay 50% of the fees.

 

Day 2-4

You converse with an expert knowledgeable in the field of company formation. After ascertaining your business structure, a customer relationship manager is assigned to you to help you throughout the process. He/she helps you in preparing the necessary documents and requests you to pay 50% of the fees.

 

Day 5-6

Upon approval of the Name, DSC and DIN we send the documents to Ministry of Corporate Affairs for generating the certificate of incorporation. Along with this we start preparing the draft of LLP agreement in accordance to your requirements. At this stage we request the rest 50% be paid as well.

 

Day 7-8

After receiving the certificate of incorporation we send the final draft of the LLP agreement to you so that you can file it with the district court. The cost of stamp paper varies state by state, we will assist you by informing the amount you should be charged.

 

Day 9-10

Upon finalization of the LLP agreement in the eyes of law, we will send application for TAN and PAN to the MCA. We will be in touch with you until the process has been completed as per your requirements.

Helpmybiz is by your side through every step of the process ensuring you do not face any problem while forming the LLP. Further our professionals ensure that the company is formed as per your requirements and all formalities are completed on time. Get in touch with our experts today!

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Our Packages

BASIC

  • Name reservation
  • Document preparation & Submission
  • Drafting by CS
  • Incorporation Certificate
  • LLPIN Number
  • PAN & TAN
  • LLP Agreement drafting & filing Form-3
Pay Now: 4999

Discount – 40%

Rs. 2999/-

Buy Now

SMART

  • Name reservation
  • Document preparation & Submission
  • Drafting by CS
  • Incorporation Certificate
  • LLPIN Number
  • PAN & TAN
  • LLP Agreement drafting & filing Form-3
  • GST Registration
  •  DSC of Two Partners
Pay Now: 8999

Discount – 22%

Rs. 7019/-

Buy Now

ALL IN ONE

  • Name reservation
  • Document preparation & Submission
  • Drafting by CS
  • Incorporation Certificate
  • LLPIN Number
  • PAN & TAN
  • LLP Agreement drafting & filing Form-3
  • GST registration
  • DSC of Two Partners
  • GST return filing (1 Year)
Pay Now: 18999

Discount – 16%

Rs. 15959/-

Buy Now

*(Exclusive of Government fees & taxes)

COMPLIANCES FOR A LLP

When forming an LLP you need to keep in mind that the penalties for not complying with the law are sometimes higher than companies. So it becomes mandatory for the partners to be aware of the compliances when forming an LLP.

Audits

A LLP needs to have its firm audited if the turnover of the LLP exceed 40 lacs or the capital contribution exceeds 25 lacs. If the mentioned thresholds are not met then they do not need to file for yearly audits.

Statements of Accounts and Solvency

Every year within 30th October the LLP needs to compulsorily file Form 8 with the Ministry of Corporate Affairs. The form reflects the profit the LLP made and details factors related to the financial stability of the business. Further the form needs to be attested by all the partners and a practising CA/CS/Cost Accountant.

Annual Returns

The LLP needs to file its Annual return of capital by 30th May every year. It includes a summary of all the management affairs of the firm. Form 11 needs to be filed for this compliance.

At the same time, the company needs to ensure GST is filed every month irrespective of any turnover in the company books.

Form 3CEB

This form has to be filed in the scenario the firm enters into international transactions with associated enterprises and if they meet the criteria for certain specific domestic transactions.

GST Registration

It is highly recommended to get GST registration done after the company has been incorporated. However, GST registration becomes mandatory if the firm will be involved in interstate transactions or have turnover exceeding 20 lacs, for services, and 40 lacs for products.

Income Tax Returns

Since LLP is an individual entity separate from its shareholders, it needs to file income tax return every year within due date.

Our team at helpmybiz has been equipped and trained to handle the complete formation of the LLP to the point of complying with all the compliance so that you can focus on boosting your business rather than worrying about the compliance. Get in touch with our experts today!

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