Start-ups and Businesses

Limited Liability Partnership Registration

From ₹10398

Benefits

  • checkmark-circle Secure your business future with seamless LLP registration, powered by Rest The Case.
  • checkmark-circle Transparent registration process starting at just ₹1499 + Govt Fee

FAQs on Limited Liability Partnership (LLP)

Have more questions ? Look at our FAQ section

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How is an LLP different from a traditional partnership?

In a traditional partnership, partners have unlimited liability, meaning they are personally responsible for the debts of the business. In an LLP, liability is limited to the partners’ contributions, protecting their personal assets.

Can an LLP be started with a single partner?

No, an LLP requires a minimum of two partners. If the number of partners falls below two, the LLP must appoint a new partner within six months, or it will need to convert to a different business structure.

Is there a minimum capital requirement for starting an LLP?

No, there is no minimum capital requirement for an LLP in India. Partners can contribute any amount as capital, based on mutual agreement.

Can a foreign national be a partner in an LLP?

Yes, foreign nationals can be partners in an LLP, but at least one designated partner must be an Indian resident. Foreign direct investment (FDI) is allowed in LLPs under the automatic route in sectors where 100% FDI is permitted.

How can I dissolve or wind up an LLP?

An LLP can be dissolved voluntarily by partners or by a tribunal. The process involves settling all debts, distributing remaining assets, and filing the necessary forms with the MCA to strike off the LLP from the register.

Can an LLP be converted into a private limited company?

Yes, an LLP can be converted into a private limited company by following the procedure prescribed under the Companies Act, 2013. This includes obtaining approval from partners, filing conversion forms, and complying with ROC regulations.

- What is an LLP, and how does it differ from other business structures?

An LLP (Limited Liability Partnership) combines elements of partnerships and corporations. It offers limited liability protection to its partners while allowing flexible management and operational structure. Unlike a traditional partnership, partners in an LLP are not personally liable for the business's debts.

What documents are required for LLP registration?

To register an LLP, you'll need documents such as the LLP agreement, identity, and address proof of partners, a registered office address, and, if applicable, a digital signature for the designated partners.

How long does the LLP registration process take?

The registration process typically takes 15-30 days, depending on the completeness of the documents and the efficiency of the application process.

What are the costs involved in registering an LLP?

Costs include government fees for registration, stamp duty on the LLP agreement, and professional fees if you engage a consultant or legal advisor. The total cost can vary based on the specific requirements and location.

Are there ongoing compliance requirements for an LLP?

Yes, LLPs must adhere to ongoing compliance requirements such as filing annual returns, maintaining proper accounting records, and holding periodic meetings. Compliance ensures the LLP remains in good standing and avoids penalties.

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