Welcome to Business Compliance Salahkar: Where Your LLP Dreams Take Flight!
Ready to transform your business vision into reality with the power of Limited Liability Partnership (LLP) incorporation? Look no further – at Compliance Salahkar, we’re here to turn your aspirations into achievements with our expert LLP incorporation consultancy services!
Why Choose LLP Incorporation?
Limited Liability Partnership (LLP) is a popular business structure in India known for its flexibility, reduced compliance requirements, and limited liability protection for its partners. With the ability to combine the benefits of a traditional partnership and a corporate entity, LLPs offer a favorable framework for various business ventures, including professional services, startups, and small businesses.
To establish a Limited Liability Partnership (LLP), the eligibility criteria generally include the following :
- Minimum Partners
- Designated Partners
- Registered Office
- No Minimum Capital Requirement
- Legal Capacity
- Disqualified Persons
- Compliance with Regulatory Requirements
- No Prior Conviction
Contact us today to schedule a consultation and take the first step towards realizing your business aspirations with LLP incorporation.
Essential documents required for LLP registration
Key features of LLP
→ Limited Liability
→ Separate Legal Entity
→ Flexibility in Management
→ No Minimum Capital Requirement
→ Perpetual Succession
→ Taxation Benefits
→ Ease of Compliance
→ Limited Regulatory Compliance
→ Transferability of Ownership
→ Professional Practice
LLP registration process
|Private Limited Company
|One Person Company
|Limited Liability Partnership
|Companies Act, 2013
|Companies Act, 2013
|Limited Liability Partnership Act, 2008
|Indian Partnership Act, 1932
|No specified Act
|Number of members
|2 – 200
|2 – Unlimited
|2 – 50
|Number of Director/Partner
|2 – 15
|2 – Unlimited
|2 – Unlimited
|Separate Legal Entity
|Ownership Transfer ability
How we work for LLP registration
Assessment and Guidance
Filing with the Registrar of Companies (RoC)
Digital Signature Certificate (DSC) and Director Identification Number (DIN)
Follow-Up and Compliance
Certificate of Incorporation
LLP Agreement Filing
We Offer services :
Company Registration Services
A Limited Liability Partnership (LLP) is a legal business structure that combines features of a traditional partnership and a corporation. It offers limited liability protection to its partners while allowing them to participate in management.
In a traditional partnership, partners are personally liable for the debts and obligations of the business. In an LLP, partners enjoy limited liability protection, meaning their personal assets are protected from business liabilities.
To form an LLP in India, a minimum of two designated partners is required, with at least one of them being an Indian resident. There is no minimum capital requirement for LLP formation.
Yes, it is mandatory for LLPs to have a written LLP Agreement that outlines the rights, duties, and responsibilities of the partners and the LLP. The agreement must be filed with the Registrar of Companies (RoC).
Yes, an LLP can be converted into a private limited company, public limited company, or vice versa, subject to compliance with the provisions of the LLP Act, 2008, and Companies Act, 2013.
In an LLP, partners are not personally liable for the actions, debts, or negligence of other partners. Each partner’s liability is limited to the extent of their contribution to the LLP.
LLPs in India are required to file an annual return with the RoC, disclosing details of partners, capital contributions, and other relevant information. Additionally, LLPs may be required to undergo a statutory audit if their annual turnover exceeds prescribed limits.
Yes, foreign nationals or entities can be partners in an Indian LLP subject to compliance with Foreign Direct Investment (FDI) regulations, Reserve Bank of India (RBI) guidelines, and other regulatory requirements.
LLPs are taxed as separate legal entities, and their profits are taxed at the LLP level. However, partners are taxed individually on their share of profits from the LLP, similar to partnership taxation.
Non-compliance with LLP regulations may result in penalties, fines, and legal liabilities for the partners and the LLP. It is essential for LLPs to adhere to statutory requirements and maintain proper compliance to avoid adverse consequences.
LLPs can engage in any lawful business activity, except for activities prohibited by law or those requiring specific licenses or permits. Certain regulated sectors may have additional compliance requirements for LLPs.
Adding or removing partners from an LLP involves amending the LLP Agreement and filing the necessary forms with the Registrar of Companies (RoC). The consent of all existing partners is typically required for admission of new partners.
Yes, LLPs are required to maintain proper books of accounts and financial records as per the LLP Act, 2008. The books of accounts must accurately reflect the financial position and transactions of the LLP.
No, LLPs cannot be converted into sole proprietorships or partnership firms. However, partners can withdraw from the LLP, resulting in its dissolution or conversion into another legal entity as per applicable laws.
In the event of LLP dissolution, partners are liable to the extent of their contribution to the LLP, subject to any specific liabilities incurred during the winding-up process.