Why Limited Liability Partnership?
LLP is a blend of Company and Partnership form of business. LLP is very much popular among western countries and it is gaining momentum in India recent times. LLP was introduced in the year 2008 under the Limited Liability Partnership Act, 2008 by Government of India. It retains the foundation of partnership with limited liability ownership. This makes LLP easy to incorporate and less compliance cost.LLPs are having different treatment under various statutory provisions. It is treated as Partnership form of business under Income Tax and treated as Company under IBC provisions. Placing the LLP in between Partnership and Company, makes it suitable for small scale business and service sectors including professional services. Further, under the definition of Startup India, LLPs are not included, hence if you are planning to get the benefits under the startup India scheme, better to go with Private Company Incorporation.
- Minimum two Partners required, and one should be designated partner.
- LLP agreement should contain all the internal rules and regulations and there is no separate Memorandum of association.
- Certificate of Incorporation will be issued by the Government.
- Unlike Partnership Act, in case of LLP, change in partners are easy and smooth with less compliance.
- Every change in partner should be supported by amendment to Partnership Deed.
- PAN card is mandatory in case of Indian national and Passport in case of foreign national
- Address Proof viz., Aadhar, Driver’s License, Passport or PR card / Voter ID
- Utility Bill viz., Electricity Bill, Bank Statement, Mobile / Telephone Bill
- Address proof for registered office., lease agreement or Electricity Bill (in case of owned property)
Start your Limited Liability Partnership at Just 15,000/-
All Inclusive Pricing – No Hidden Fee
Advantages of Limited Liability Partnership
Start your Limited Liability Partnership with Us and Grow with Us
Truzly professionals are ready to serve you for LLP Incorporation and gamut of services
All Inclusive Pricing – No Hidden Fee
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Just ₹15,000 Only/-
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2 class two digital signatures for Directors/ Shareholders #1
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2 Directors Identification Number (DIN)
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Name approval from Ministry of Corporate Affairs #2
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LLP agreement
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No incorporate fee
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Certificate of Incorporation
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PAN Number for the LLP
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TAN Number for the LLP
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GST registration
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Incorporation Kit with complete guide
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Free Bank Account opening #3
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Auditors appointment
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Accounting / book keeping services for 1 year #4
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One-year free compliance like Board minutes, General Meeting minutes, etc., #5
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Free consultancy on Corporate Matters for one year
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Trade Mark registration consulting #6
Note:
- If more than 2 directors / shareholders, additional digital signatures to be procured.
- Name approval is subjected to the rules and regulations of Limited Liability Partnership Act, and approval of the Ministry of Corporate Affairs. Prohibited names, similar to existing LLP / Company name, Trade mark will not be entertained. Click to know how to choose your LLP Company name.
- Subject to completion of KYC and other formalities of Banks. Truzly will not guarantee opening of bank account since it is purely out of our control.
- Free book keeping services is only upto a transaction Rs. 100,000.
- During the annual compliance, any government fee, ROC challan payments, certification fee shall be additional and we provide complete documentation and compliance services only.
- Trade Mark registration will attract additional cost. We only give consulting on how to protect your new LLP Company brand.
FAQ’s and Useful insights on LLP Incorporation:
From our experience, may entrepreneurs come with a predetermined name / brand for the Company. Choosing an LLP name should comply with certain requirement. Truzly will help you to choose the name that meets all the legal requirement and unique as well.As per the Company name availability guidelines and Companies (Incorporation) rules following need to be kept in mind: –
- Be sure that your name should not be similar, identical or resembling the name of an existing Company or LLP
- Be sure that it is not similar to registered trade mark or a trade mark for which an application has already been filed. If you won a brand, we will provide Trade Mark registration services along with Company Incorporation.
- It should not be Offensive, not to use the words such as, UN, Government, President or Prime Minister or undesirable.
Every LLP in India should have a registered office which receives all communications and maintains statutory records. Promoters should provide the proof of registered office at the time of incorporation either owned premises or leased premises.Below proof for registered office required: –
- Lease deed in case of rented premises.
- NOC from the owner of the premises.
- Utility bill viz., EB bill, Property Tax, Telephone bill not older than 2 months.
Certificate of Incorporation is the proof of establishing LLP. It has unique identification number called with name of the Company and issuing authorities and date from which it is incorporated.
LLP is regulated structure unlike proprietary ship or partnership. Continues support of professionals is highly necessary to avoid unnecessary non-compliance and to avoid payment of penalties. So do not try DIY on legal / compliance matters which could cost you heavily. Talk to us and get complete support. Talk to us and get complete support!!.