It is very easy to form LLP with HireyourCA , as the process is very simple as compared to Companies and does not involves much formalities
No minimum capital is required for LLP Formation. No minimum capital contribution required from partners. It can be registered even with Rs. 1000 as total capital contribution.
In the case of LLP, no mandatory Audit is required. The audit is required only when the turnover of the company exceeds Rs 40 lakhs and where the contribution exceeds Rs 25 lakhs.
LLP Agreement, deed among partners of an LLP, clarifies operating structure including rights and responsibilities of the partners. Typically, LLP would select a “Designated Member” who would control day-to-day operations. It can have individuals or existing businesses as members. Further, this structure allows to clearly define roles of the partners and their respective responsibilities. It could also help in protecting partner’s interest in case of loss because of an unlawful act of any other partner.
A key benefit of Register Limited Liability Partnership over a private company is lesser compliance requirement. It doesn’t have a mandatory audit requirement until a certain level of turnover or contribution. Unlike companies, compliance related to board meetings, statutory meetings, etc. do not apply to LLPs. Professional services for compliance are typically available at cheaper rates than that for companies, making it cost effective to maintain an LLP.
LLP enjoys the benefit of Separate Legal Identity in the eyes of law which clearly states that assets and liabilities of the business are not the assets and liabilities of the Partners
Step-1 Choose a unique name for your LLP Registration using RUN.
Step-2 Apply for DSC for partner.
Step-3 Drafting and Filing of FiLLip.
Step-4 Drafting of LLP Agreement.
Step-5 Filing of Form - 3.
Step-6 Get Certificate of Incorporation, PAN & TAN of your LLP.
· Atleast two designated partners
· Name of LLP should be unique. The purposed name should not match with any existing company/LLP or trademarks in India.
· There is no minimum capital requirement for LLP
· Commercial space, residential space or rented space can be Registered office of company.
· There is no minimum education requirement for partners.
1. Pan Card of partners (Scanned Copy)
2. Aadhar Card of partners (Scanned Copy)
3. Voter Id / Passport / Driving License of partners (Scanned Copy, of Any One Document)
4. Latest bank statement / Telephone Bill / Mobile Bill / Electricity Bill /Gas Bill (must be less than 2 months old ) of partners (Scanned Copy, of Any One Document)
5. For Registered Office of Company recent copy of electricity bill or property tax receipt or water bill or rent agreement along with latest utility bill or no objection certificate from landlord are required.
6. For foreign nationals apostilled / notarized copy of passport require
1. All documents must be valid.
2. Registered office need not to be a commercial space , it can be residential space
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