What is an LLP?

A Limited Liability Partnership (LLP) is a business organization that combines the features of a partnership firm and a company. The limited liability of an LLP protects the partners’ personal assets from the obligations and liabilities of the company. This structure provides a separate legal entity status, allowing the LLP to sue and be sued in its name, distinct from its partners.

Advantages of LLP Registration:

1. Separate Legal Entity: An LLP is a separate legal entity, which means it has its own identity distinct from its partners. This provides credibility and trust among stakeholders, customers, and suppliers.

2. Limited Liability: The liability of each partner is limited to their contribution to the LLP. By doing this, their personal assets are shielded from business debt.

3. Cost-Effective Formation: Registering an LLP is relatively inexpensive compared to a private limited company, making it an attractive option for small and medium-sized businesses.

4. Less Compliance and Regulations: LLP registrations are subject to fewer regulatory requirements and compliance obligations than companies, reducing administrative burdens.

5. No Minimum Capital Contribution: There is no requirement for a minimum capital contribution to establish an LLP. Partners can make contributions based on their financial situation and business requirements.

6. Flexibility in Management: By enabling partners to specify their duties and responsibilities in an LLP agreement, LLPs provide flexibility in the management structure.

Disadvantages of LLP Registration:

1. Penalty on Non-Compliance: Although LLP compliance is low, there are significant penalties for missing deadlines. An LLP is required to file annual returns with the Ministry of Corporate Affairs (MCA) or risk penalties, even in the event that it stays idle for the entire year.

2. Winding Up and Dissolution: An LLP Company Registration requires a minimum of two partners to exist. If the number of partners falls below two for six months, the LLP may face dissolution.

3. Difficulty in Raising Capital: LLPs do not have the concept of equity or shareholders. This makes it challenging for LLPs to attract external capital from angel investors and venture capitalists compared to companies.

Documents Required for Limited Liability Registration in India:

In India, the LLP registration paperwork needs to include the following documents:

Documents of Partners

• ID Proof of Partners: All partners must provide their PAN card as the primary ID proof.
• Residence Proof of Partners: Partners can submit any one of the following documents: Voter’s ID, passport, driver’s license, utility bills (not older than 2 months), or Aadhaar card.
• Photograph: Passport-size photographs of all partners, preferably on a white background.
• Passport (for Foreign Nationals/NRIs): Foreign nationals and NRIs must submit a notarized or apostilled passport. They also need to provide proof of address, such as a driving license, bank statement, residence card, or any government-issued identity proof containing the address.

Documents of LLP:

1. Proof of Registered Office Address: A proof of registered office must be submitted during registration or within 30 days of incorporation. If the office is rented, a rent agreement and a no-objection certificate from the landlord must be provided, along with a recent utility bill (not older than 2 months) with the complete address and owner’s name.

2. Digital Signature Certificate (DSC): One of the designated partners needs to obtain a DSC as all documents and applications will be digitally signed.

Limited Liability Partnership Registration Process:

1. Obtain a Digital Signature Certificate (DSC)

The first step in the LLP registration process is to obtain a Digital Signature Certificate (DSC) for all proposed partners. This is necessary as all documents filed with the government for LLP incorporation need to be digitally signed.

2. Obtain Director Identification Number (DIN)

Those partners without a DIN at the moment need to apply for one.An applicant seeking a position as a director in a corporation or as a designated partner in a limited liability partnership (LLP) is given a unique identification number called the Director Identification Number (DIN).

3. Choose a Name for the LLP

For your LLP, choose a distinctive and appropriate name. Throughout the application process, ensure that the name conforms with the Ministry of Corporate Affairs regulations to avoid rejection.

4. Form for Incorporation of LLP 

For Limited Liability Partnership Registration in India, the Form for Incorporation is a crucial document that is essentially required. This form collects crucial information about the limited liability partnership (LLP), such as the proposed name of the LLP, the registered office address, the LLP agreement, and the names and addresses of those involved. It also includes a declaration from the partners consenting to act as designated partners and comply with the LLP regulations.

5. Draft LLP Agreement

Create the LLP Agreement, which outlines the LLP’s and the partners’ responsibilities, rights, and obligations. Within 30 days following establishment, this agreement must be notarized and submitted to the Ministry of Corporate Affairs (MCA).

6. Acquire a Certificate of Formation

The Certificate of Incorporation will be issued by the Registrar of Companies (RoC) after all required forms and documents have been submitted and approved. The existence of your LLP is formally acknowledged by this certificate.

7. Apply for PAN and TAN

Apply for your LLP’s Tax Deduction and Collection Account Number (TAN) and Permanent Account Number (PAN) after receiving the Certificate of Incorporation.

LLP Company Registration Cost in India

The cost of LLP company registration in India depends on the capital commitment. The Ministry of Corporate Affairs has outlined specific fee slabs as follows:

• ₹500 for a capital commitment of less than ₹1 lakh.
• ₹2000 for a capital commitment exceeding ₹1 lakh but less than ₹5 lakhs.
• ₹4000 for a capital commitment surpassing ₹5 lakhs but less than ₹10 lakhs.
• ₹5000 for a capital commitment exceeding ₹10 lakhs.

Key Features of LLP:

1. Separate Legal Entity: Limited Liability Partnership Registrations are recognized as separate legal entities, which allows them to own assets and incur liabilities independently of their partners.

2. Minimum Two Partners: To establish an LLP, at least two individuals must collaborate. There is no upper limit on the number of partners, enabling scalability and inclusion of multiple partners as the business grows.

3. Minimum Two Designated Partners: A minimum of two designated partners are required, and at least one must be a resident of India.

4. Limited Liability: The liability of each partner is limited to their respective contribution to the LLP, protecting their personal assets from business liabilities.

5. Cost-Effective Formation: The formation of an LLP is relatively cost-effective, making it a suitable option for small and medium-sized businesses.

6. Less Compliance and Regulations: LLPs have fewer regulatory requirements compared to companies, reducing administrative burdens.

7. No Minimum Capital Contribution: There is no mandatory minimum capital requirement for LLPs, providing flexibility in business funding.

Conclusion

LLP company registration offers numerous benefits for entrepreneurs seeking to combine the advantages of a partnership firm with the limited liability feature of a company. With a straightforward registration process, cost-effective formation, and flexible management structure, LLPs are an ideal choice for businesses of all sizes. By understanding the required documents and following the step-by-step registration process, you can successfully establish your LLP and embark on a secure and prosperous entrepreneurial journey. Whether you are a budding entrepreneur or an established business owner, LLP registration provides a credible and versatile option for your business endeavours.

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Understanding LLP and Private Limited Company:

What is a Limited Liability Partnership (LLP)?

An LLP is a corporate body formed and incorporated under the Limited Liability Partnership Act, 2008. It is a partnership where partners enjoy limited liability protection, meaning they are only responsible for their actions and not for the mistakes or losses of other partners. An LLP is recognized as a separate legal entity, distinct from its partners, and follows the rule of perpetual succession. At least two partners are required to form an LLP, formalized through an agreement of partnership.

What is a Private Limited Company (Pvt. Ltd.)?

A Private Limited Company (Pvt. Ltd.) is defined under Section 2(68) of the Companies Act, 2013. It is a privately held company that restricts the transfer of its shares and limits the number of its shareholders to a maximum of 200. This structure is often preferred for product-based startups due to its fundraising potential, limited liability protection, and professional image. At least two members (directors) are needed to register a private company.

LLP vs Private Limited Company: Registration and Formation Process:

LLP Registration:

The process for LLP Registration involves several steps:

• DSC and DPIN: Partners must obtain a Digital Signature Certificate (DSC) and a Designated Partners Identification Number (DPIN).
• Company Name: Select a unique name for the LLP as per the Ministry of Corporate Affairs (MCA) guidelines.
• FiLLiP Form: Fill out the Form for Incorporation of Limited Liability Partnership (FiLLiP), which includes details about partners, the LLP agreement, and registered office proofs.
• LLP Agreement: Draft and notarize an LLP agreement, outlining the partnership terms, which must be filed with the MCA within 30 days of incorporation.
• COI and PAN/TAN: Upon verification, the Registrar of Companies (ROC) issues a Certificate of Incorporation (COI). Then, apply for the company’s PAN and TAN.

Pvt. Ltd. Company Registration:

The Pvt. Ltd. Company Registration process includes:

• DSC and DIN: Obtain a Digital Signature Certificate (DSC) and a Director Identification Number (DIN) for the directors.
• Company Name Reservation: Use Part A of the SPICe+ Form to reserve a unique company name, indicating the company type and industry.
• SPICe+ Form: Fill in additional details in Part B of the SPICe+ Form, including registered office proof, directors’ details, and necessary documents.
• E-MOA and E-AOA: Draft the electronic Memorandum of Association (e-MOA) and Articles of Association (e-AOA) and submit them with the SPICe+ Form.
• COI, PAN, and TAN: After verification, the ROC issues the Certificate of Incorporation (COI), along with PAN and TAN.

Advantages of LLP Registration:

• Limited Liability Protection: LLP Registration provides personal asset protection, ensuring partners are not held liable for business debts beyond their contributions.
• Tax Benefits: LLPs are exempt from Dividend Distribution Tax (DDT), allowing partners to receive their profit shares without additional tax burdens.
• Limited Compliance: LLPs have fewer regulatory requirements compared to other business structures, reducing administrative overhead.
• Operational Flexibility: The LLP agreement allows partners to distribute roles and responsibilities flexibly, fostering a collaborative management style.
• Perpetual Succession: The LLP remains unaffected by changes in partnership, ensuring business continuity and stability.
• Separate Legal Identity: An LLP is a separate legal entity, providing clarity in legal and contractual relationships.

Advantages of Pvt. Ltd. Company Registration:

• Ease in Fundraising: Pvt. Ltd. company Registration can raise funds through loans, deposits, and equity, attracting banks, financial institutions, and investors.
• Protection Against Creditors: Directors are shielded from personal liability for company debts, offering protection during financial difficulties.
• Limited Liability Protection: Directors enjoy limited liability, safeguarding their personal assets in case of business failure.
• Tax Advantages: Private company Registrations benefit from tax exemptions and lower corporate tax rates, providing financial relief for startups.
• Perpetual Succession: The company continues to exist despite changes in directorship, ensuring uninterrupted operations.
• Flexible Management: The private company structure allows owners to delegate management authority to the Board of Directors, facilitating efficient decision-making.

Disadvantages of LLP Registration:

• Difficulty in Fundraising: Investors are generally reluctant to invest in LLPs due to the requirement to become partners, limiting fundraising options.
• Heavy Penalty on Non-Compliance: Non-compliance with LLP regulations incurs significant penalties, adding to the financial burden.
• Limited Professional Scope: LLPs are restricted to specific professions like law, accounting, consultancy, and architecture.
• Lack of Mismanagement Provisions: The LLP Act, 2008, does not address issues of mismanagement and oppression, potentially leading to workplace conflicts.

Disadvantages of Pvt. Ltd. Company Registration:

• Administrative Burden: Regular compliance with tax filings, financial reports, and meeting minutes increases administrative workload.
• Complicated Accounts: Growing startups may face complex accounting requirements, necessitating professional accounting services.
• Shared Ownership: Shared ownership can lead to slower decision-making, internal conflicts, and compromised autonomy.
• Restricted Share Transfer: The transfer of shares is limited by the Articles of Association, making it difficult for shareholders to exit the company.

Key Differences Between LLP and Private Limited Company:

Partners/Directors Required:

• LLP: Minimum 2 partners, no maximum limit.
• Pvt. Ltd.: Minimum 2 directors, maximum 15 directors.

Board Meetings:

• LLP: Not required.
• Pvt. Ltd.: Four board meetings annually.

Statutory Audit:

• LLP: Mandatory if partner contributions exceed ₹25 lakhs or annual turnover exceeds ₹40 lakhs.
• Pvt. Ltd.: Always mandatory.

Liability:

• LLP: Up to the agreed contribution.
• Pvt. Ltd.: Up to capital contribution.

Ownership Status:

• LLP: Both the Owners and managers are equally responsible.
• Pvt. Ltd.: Shareholders own the company, but management is handled by directors.

Foreign Direct Investment (FDI):

• LLP: Allowed through the approval route.
• Pvt. Ltd.: Allowed through both automatic and approval routes.

Taxation:

• LLP: Fixed rate of 30% on total income, with an additional surcharge for income over ₹1 crore.
• Pvt. Ltd.: Fixed rate of 25% on total income, increasing to 30% for income over ₹400 crores.

Annual General Meeting:

• LLP: Not required.
• Pvt. Ltd.: Required annually.

Share Transferability:

• LLP: Transfer requires a resolution with existing partners’ agreement.
• Pvt. Ltd.: Restricted by Articles of Association.

Conclusion:

Choosing between LLP Registration and Pvt. Ltd. Company Registration depends on your business nature and strategic goals. Service-based startups may benefit more from an LLP structure due to its flexibility and tax advantages. In contrast, product-based startups might find a Pvt. Ltd. structure more suitable for its fundraising capabilities and professional image.

If you need assistance with LLP Company Registration or Pvt. Ltd. Company Registration, LegalRaasta offers comprehensive registration services for both structures. Contact our experts for a consultation to make an informed decision and set your startup on the path to success.

The post LLP V/s Private Limited Company: Which Structure Is Best For Your Startup? appeared first on LegalRaasta Knowledge portal.

What is LLP registration?

The process for forming a Limited Liability Partnership is called LLP Registration. It falls under the 2008 Limited Liability Partnership Act because it is a corporation. Compared to corporate body registration, LLP Registration has less compliance requirements. The only difference between an LLP and a partnership is that the latter has unlimited liability. Being a hybrid of the two, an LLP combines the benefits of “a business and a partnership.”

Characteristics of LLP Registration

• Each partner’s responsibility is limited to the amount of their contribution, it has a separate legal identity, and there are fewer regulations and compliance requirements.
• A little cost can be paid to form an LLP, and no minimum capital contribution is required.
• An LLP must have a minimum of two chosen partners who are individuals, at least one of whom must reside in India.

Benefits of LLP Registration

• Separate legal entity: An LLP is distinct from its partners and is a separate legal entity. An LLP can file lawsuits and be sued in its own name, and contracts are signed under the LLP’s name, which helps the business win over the trust of numerous stakeholders and inspires confidence in its clients.
• Limited liability: The registered LLP partners are subject to limited liability, which means they are only liable for the contributions they made and are not held personally liable for any business losses. If an LLP is being wound up, only its assets are accountable for covering its debts if it becomes insolvent. And not every partner is personally responsible for payment.
• Cost-effectiveness and reduced compliance: An LLP can be formed for less money than a public or private limited company, and it must also comply with fewer regulations.
• Minimum capital commitment: There is no requirement for a minimum capital commitment when forming an LLP. Any amount of capital that the partners contribute can be utilized to form it since there is no minimum paid-up capital requirement prior to incorporation.

Steps to form an LLP

1. Obtain a certificate for a digital signature (DSC): You must apply for the selected partners of the proposed LLP’s digital signature before starting the registration process. This is due to the fact that all LLP paperwork must be digitally signed and are filed online. Depending on the certifying organization, DSC varies in price.
2. Application for Director Identification Number (DIN): All designated partners or those planning to become designated partners of the proposed LLP must submit applications for their DINs. The Form DIR-3 must be used to submit the request for the allocation of a DIN. Aadhaar and PAN are the two documents that must be scanned and attached to the form.
3. Name Approval: It is recommended that you use the free name search facility on MCA portal for checking the reservation of name of LLP.The system will provide the list of existing companies or LLPs based which helps you in choosing names not similar to already existing names.
4. LLP incorporation: It is necessary to file the FiLLiP (Form for incorporation of Limited Liability Partnership), which is an integrated form, with the Registrar who has authority over the state where the LLP’s registered office is located. If the name for which an application is made is accepted, this approved and reserved name must be used as the LLP’s proposed name.
5. Limited Liability Partnership (LLP) Agreement: The LLP agreement sets down the rights and obligations that each partner has toward the other as well as toward the LLP and its partners. A three-year online MCA Portal filing is required for the LLP agreement. The LLP agreement Form 3 must be submitted within 30 days of the formation date. The stamp paper that must be used to print the LLP Agreement varies by state.

Documents Required for LLP Registration

• It is necessary to have a copy of each partner’s PAN card.
• An address or identity evidence, such as a passport, election card, voter identity card, ration card, driver’s licence, or Aadhaar card for Indian citizens.
• Two passport-size photographs • Utility bills from the firm site, such as electricity, telephone, gas, and mobile bills, as proof of the partner’s ownership.
• If a rented premises agreement or property papers are required, along with the landlord’s NOC.
• The passport must be notarized in the country where it was issued, be written in English, and include the recipient’s birth date for foreign nationals.
• Complete the incorporation documents and have them certified by the Indian Embassy or a notary in the applicant’s home country where the applicant is a direct citizen.

Conclusion

The idea behind an LLP is that one partner is not held accountable for the recklessness or wrongdoing of the other. Additionally, it enables the LLP’s partners to run the business directly and offers limited liability protection for the owners against the LLP’s obligations. In conclusion, as demonstrated in the prior essay, LLP registration has evolved into a need for early-stage businesses hoping to profit from tax incentives and registration advantages. The team of skilled professionals at LegalRaasta is always available to assist and counsel you. While you focus on what you do best, let our professionals handle your LLP Registration and Company Compliances. Please get in touch with LegalRaasta for further details on the documentation requirements, process, and features for LLP Registration.

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What is LLP ?

Limited liability partnerships are formed through mutual agreement, which is a written contract between the LLP’s designated partners or the LLP alone and the LLP’s designated partners. The LLP agreement specifies the rights, powers, responsibilities, and liabilities of the designated partners.

Important Facts About Limited Liability Partnership

• A private limited company and a partnership, or a simple partnership firm, are combined to form an LLP Registration in India.
• As part of the LLP registration process, you have partners who contribute equally to profits and losses.
• Additionally, the profit or loss might be divided according to the partnership’s or LLP’s ratio, provided that all of the reasons for the partnership have been agreed upon.
• Each LLP Registration is handled as if it were an independent asset, liable for its own debts, suing or being sued in its own right.

Some of the LLP’s advantages

• A limited liability partnership (LLP) is a well-organized business entity based on an LLP agreement that is also flexible and legal-free. A limited liability partnership (LLP) is a business structure or model that allows for limited liability. It is organized and managed in accordance with the terms of a contract.
• The limited liability partnership (LLP) is a flexible and cost-effective business structure that is easy to establish.
• Because there is no minimum capital contribution requirement, the cost of forming an LLP is less than that of forming a corporation. With a small initial investment, an LLP can be formed.
• It takes less time to set up and is simple and inexpensive. Starting a business is straightforward for entrepreneurs. LLP agreements are also custom-made to meet the needs of the directors or partners.
• It also enables professional expertise to combine financial risk in a novel and efficient manner.
• In comparison to a partnership, an LLP has a separate legal existence known as the body corporate. An LLP protects the members’ personal assets from liabilities. In other words, an LLP is a legal entity distinct from its members.
• Since the LLP Registration process is adaptable, the Designated Partners of the LLP are free to manage their LLP whatsoever they see fit.
• In contrast to a partnership, an LLP has its own legal entity called the body corporate. A limited liability partnership (LLP) protects the members’ personal assets from liabilities. To put it another way, an LLP is a separate legal entity from its members.
• Because operations and profit distribution are determined by a written agreement, LLPs offer a great deal of flexibility. It results in better business management. Limited Liability Partnerships (LLPs) allow for more flexibility without imposing stringent legal and procedural requirements. Because the Limited Liability Partnership (LLP) is a new business model in India, it provides some flexibility.
• Transferring ownership in an LLP is easier; under the terms of the LLP agreement, any partner can do so. It is assumed that a limited liability partnership (LLP) is a legal entity. As a result, it has the authority to rent, lease, purchase, own, and even be held liable for property. An LLP allows for easy ownership transfer and has no restrictions on who can join and leave.
• In an LLP, tax issues are handled at a lower rate than in a corporation. When compared to other business types, an LLP pays a lower tax rate and is exempt from taxes such as dividend distribution tax and minimum alternative tax.
• There are fewer legal requirements, regulations, and compliance requirements for LLP partners because they are not managers or representatives of their fellow partners.

Some of the LLP’s Disadvantages

• People do not regard LLPs as credible businesses in the same way that they do not regard other business forms as credible. Despite the LLP’s many benefits, many people prefer other business structures.
• Due to state-by-state differences in tax benefits and some LLP formation restrictions, forming an LLP can be costly.
• Income reports must be filed and made public with Companies House. Members’ non-public income may be disclosed in the accounts.
• Income is taxed as such because it is considered personal income. There may be tax advantages to forming a corporation, but this will depend on your unique situation.
• Profits cannot be retained in the same way that profits in a company limited by shares can be retained. This means that all profits are effectively distributed, and there is no way to carry profits forward to a future tax year.
• An LLP must have at least two members to be registered, and if one of the partners decides to leave, the LLP may need to be disbanded.
• Residential addresses were once kept track of by Companies House. Consider whether or not solicitors and law firm partners would want their home address made public if their work involves sensitive cases.

Conclusion

The concept of an LLP is that one partner is not responsible or liable for the negligence or misconduct of the other. It also provides limited liability protection for the owners against the LLP’s debts, as well as the ability for the LLP’s partners to manage the company directly. In conclusion, as demonstrated in the preceding essay, the LLP registration Process has evolved into a need for early-stage businesses hoping to profit from financial incentives and registration advantages. The team of proficient and educated specialists at LegalRaasta is always available to assist and guide you with the LLP Registration Process.The LegalRaasta is a leading business startup consultant that offers services like Proprietorship Firm Registration, Partnership Firm Registration, LLP Registration, Company Registration, GST Registration, and Trademark Registration.

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वाह् भई वाह! आपके पास एक स्टार्टअप के लिए सही विचार है, आप प्रेरित हैं और एक टीम है जो आपको बैक करती है और जाने के लिए व्याकुल है। पर रुको! क्या आपने सोचा है कि आप किस प्रकार की कंपनी बनाएंगे? कितने डायरेक्टर हैं? आप किस राशि की पूंजी के निपटान के लिए तैयार हैं? कंपनी क्या दिशा लेगी? नहीं न? खैर, इस लेख के साथ हम उम्मीद करते हैं कि यह आपके लिए स्पष्ट होगा। हम एलएलपी (लिमिटेड लायबिलिटी पार्टनरशिप) पर गौर कर रहे हैं और उनकी योग्यता को इस बिंदु पर स्पष्ट करने की कोशिश करते हैं कि एलएलपी प्राइवेट लिमिटेड कंपनी से बेहतर है।

इससे पहले कि हम एक बुरी तस्वीर और एलएलपी में पीएलसी को अंतिम विकल्प के रूप में चित्रित करते हैं, प्राइवेट लिमिटेड कंपनी निगमन के साथ-साथ पीएलसी और एलएलपी के बीच समानताएं भी कई हैं । जब आप एलएलपी से अधिक प्राइवेट लिमिटेड कंपनी का चयन कर सकते  हैं । जब पीएलसी के साथ जाना समझदार हो सकता है तो अधिक विस्तृत जानकारी के लिए।

एलएलपी और पीएलसी के बीच समानताएं

• LLPs और प्राइवेट लिमिटेड कंपनियों दोनों को शामिल करने के लिए न्यूनतम 2 निदेशक / शेयरधारकों / भागीदारों की आवश्यकता होती है।
• निजी लिमिटेड कंपनियों के साथ-साथ एलएलपी दोनों के पास व्यक्तिगत संपत्ति के लिए सीमित देयता है। (शेयरधारकों के शेयरों के मामूली मूल्य तक सीमित)
• एलएलपी और प्राइवेट लिमिटेड कंपनियां दोनों ही एक बॉडी कॉर्पोरेट और एक कानूनी इकाई हैं जो अपने साझेदारों और शेयरधारकों से अलग हैं।

पंजीकरण प्रक्रिया

प्राइवेट लिमिटेड कंपनी पंजीकरण, साथ ही एलएलपी पंजीकरण की प्रक्रियाएं सरल और एक-दूसरे के समान हैं। हम इन कंपनियों के निगमन में बुनियादी कदमों को सूचीबद्ध करते हैं।

कॉरपोरेट मामलों के मंत्रालय (एमसीए) भी एसपीई के साथ वन-डे कंपनी को शामिल  करने के लिए कंपनी निगमन प्रक्रिया के तेजी से प्रसंस्करण को सुनिश्चित करने के लिए कदम उठा रहा है ।

क्यों एलएलपी प्राइवेट लिमिटेड कंपनी से बेहतर है

यह देखना आसान है कि दोनों प्राइवेट लिमिटेड कंपनियों के साथ-साथ एलएलपी पंजीकरण प्रक्रियाएं सरल हैं। इस प्रकार, यह निगमन की आसानी का सवाल नहीं है कि यह कंपनी के रास्ते और भविष्य को तय करने के लिए नीचे आता है। हमने यह भी देखा है कि कभी-कभी एक निजी लिमिटेड कंपनी को शामिल करना फायदेमंद हो सकता है। हालाँकि, हम आपको एक व्यापक तर्क प्रदान करते हैं कि प्राइवेट लिमिटेड कंपनियों की तुलना में एलएलपी को क्यों पसंद किया जाना चाहिए।

• एलएलपी एक कंपनी के परिचालन लाभों के साथ-साथ साझेदारी फर्मों के लचीलेपन को जोड़ती है।
• प्राइवेट लिमिटेड कंपनी की तुलना में एलएलपी फर्म को शामिल करने का शुल्क बहुत मामूली है।
• एक एलएलपी के लिए अनुपालन आवश्यकताओं को एक निजी लिमिटेड कंपनी के लिए की तुलना में काफी कम है। एलएलपी के लिए अनिवार्य ऑडिट की आवृत्ति 0 है यदि उन्होंने 40 लाख टर्नओवर मार्क या 25 लाख राजस्व योगदान मार्क को पार नहीं किया है।
• एक निजी लिमिटेड कंपनी के पास स्वामित्व सीमित है और वह केवल मालिकों की संख्या को अधिकतम 200 शेयरधारकों तक बढ़ा सकती है। हालांकि, ऐसी कोई सीमा नहीं है जो एलएलपी पर लागू होती है।
• 4 बोर्ड बैठकें और कंपनी की 1 वार्षिक आम बैठकें आयोजित करने की आवश्यकता के साथ पीएलसी के लिए बैठकों की आवश्यकताएं काफी अधिक हैं। एक एलएलपी में, बैठकें आयोजित करने की कोई अनिवार्य आवश्यकता नहीं है।
• पीएलसी को शामिल करने और बनाए रखने की लागत (रु। १५००० निगमन + रु। १५००० करोड़पति + १,५००० ऑडिट) एक एलएलपी (रु। ११,००० निगमन + रु। ४,००० शिकायतें) की तुलना में 3 गुना अधिक है। यह एलएलपी को एक किफायती विकल्प बनाता है।
• पीएलसी मॉडल को अपनाने से स्टार्टअप मालिकों को आर्थिक रूप से नुकसान हो सकता है। कई बार, पीएलसी या तो भुगतान करने में असमर्थ होते हैं या समय में अपनी अनुपालन आवश्यकताओं का भुगतान नहीं करते हैं, जिससे रुपये तक का जुर्माना हो सकता है। कभी-कभी 1 लाख। हालांकि, एलएलपी के साथ आप जुर्माना की परेशानी को पूरी तरह से छोड़ सकते हैं। एलएलपी के अनुपालन की फीस बहुत मामूली है और शायद ही कभी जुर्माना हो।

निष्कर्ष

इस प्रकार, पीएलसी पर एलएलपी के कई लाभ हैं। इन सभी लाभों के प्रकाश में, एलएलपी पंजीकरण करने के लिए शुरुआती चरण के स्टार्टअप के लिए यह एक बुद्धिमान विकल्प है। जबकि पीएलसी के अपने लाभ हैं, कंपनी की नींव को आकार देने में मदद करने के लिए एलएलपी को कम करके आंका गया है। एलएलपी अधिनियम, 2008 में एलएलपी को शामिल किए जाने के बाद से एलएलपी ईंट और मोर्टार प्रकार के व्यवसायों के लिए एक पूर्ण चमत्कार साबित हुआ है।

पर LegalRaasta , हम आपको एक कंपनी की स्थापना करने, चाहे वह है मदद करने में विशेषज्ञ एलएलपी पंजीकरण   या प्राइवेट लिमिटेड कंपनी पंजीकरण के साथ साथ जीएसटी पंजीकरण और आईटीआर दाखिल । ब्लॉग पर हमारे दैनिक अपडेट के साथ , हम आपको नवीनतम कानून में बदलाव, अनुपालन आवश्यकताओं, खाद्य लाइसेंस जैसे अन्य लोगों के बीच कराधान के साथ अद्यतित रहने में मदद करते हैं। + 91-8750008585 पर अपनी आवश्यकताओं के बारे में हमसे बात करें या हमें contact@legalraasta.com पर एक ई-मेल भेजें ।

हम ट्रेडमार्क पंजीकरण, कंपनी पंजीकरण, FSSAI लाइसेंस जैसी कई प्रकार की कानूनी सेवाएं प्रदान करते हैं, और भी बहुत कुछ। तो, पूरी तरह से परेशानी मुक्त प्रक्रिया के लिए, “लीगलरैस्टा” की विशेषज्ञ टीम से संपर्क करें।

The post क्यों एलएलपी प्राइवेट लिमिटेड कंपनी से बेहतर है appeared first on LegalRaasta Knowledge portal.

LLP means Limited Liability Partnership which came into known in the year of 2008 under the Limited Liability Partnership Act 2008. Limited Liability Partnership is similar to the general Partnership Firm Registration. LLP Registration fees differ according to the different ca firms. CA firms fix their LLP Registration fees according to their commission system. Due to its legal structure, there is nil limited liability in the general partnership so the government of India introduced the Limited Liability Partnership on 9th January 2009.

Limited liability partnerships are different from limited partnerships in some countries. Which may allow all Limited Liability Partnership partners to have limited liability.  While in a limited partnership, one may require at least one unlimited partner and allow others to take the role of a passive and limited liability investor. As a result, the LLP is more suited for businesses in which all investors wish to take an active role in management.

You can check the LLP registration facilities provided by us.

Characteristics of LLP

• Separate legal entity: Like any other company, LLP does have a separate legal entity. Thus, partners and LLP are different from each other. This is like an organization where directors are different from the company.
• No requirement of minimum capital: Unlike the other companies where the owner should have a minimum amount of capital before the establishment of the company. But there is no requirement of minimum capital to start an LLP.
• A minimum number of members: Before establishing a limited liability partnership at least two members are required initially. However, there is no limit on the maximum number of partners for LLP.

Advantages of LLP

LLP is a form of business model which:

• is an organized form of business and operates on the basis of an agreement.
• provides flexibility without imposing any legal and procedural requirements for the incorporation.
• enables professional/technical expertise and initiative to combine them with financial risk-taking capacity in an innovative and efficient manner.

The Second Amendment of LLP Rules (2018)

On 18th of September 2018, the declaration of the Limited Liability Partnership Rules in 2018 was done and it came into being on 2nd October 2018. This amendment contains a revision of various relevant rules. The altered rules are as follows:

Reserve Unique Name – LLP

The introduction of a web service called the Reserve Unique Name – Limited Liable Partnership (RUN-LLP) replacing the earlier form for the Application for the Reservation of the company’s name or Change in Name of the company(Form 1).

Form for Incorporation of LLP (FiLLiP)

The introduction of a new form called the Form for incorporation of Limited Liability Partnership (FiLLiP) replaced the previous Form for Incorporation document and subscriber’s statement (Form 2) and thereby, combining the following services.

• Name Reservation
• Allowing the Designated Identification Number (DIN)
• Incorporation of the LLP

What is LLP Registration

LLP Registration is a basic process where 2 LLP Partners create an LLP Registration. But with the limited liability and starts a current bank account on the LLP Name & Start the business. Here partners will be paying the Government Fee & Professional Fee for the same.

Documents required for LLP Registration

Indian Nationals incorporating an LLP mandatorily requires the following documents :

PAN Card: A copy of the PAN Card of proposed Partners of the LLP is required for the LLP registration process.  Permanent Account Number or PAN is a unique number issued by the Department of Income Tax in India.

You can use our services to register your PAN card if you have not applied for it till yet.

Address Proof: In addition to the PAN Card copy, the proposed Partner has to submit an address proof and residential proof. The address proof submitted by the proposed partners of LLP must have the name of the Partner as mentioned in the PAN Card and the current address. The document submitted must not be older than 2 months. The following documents are acceptable as address proof for Indian Nationals:

• Passport
• Election Card or Voter Identity Card
• Ration Card
• Driving License
• Electricity Bill
• Telephone Bill
• Aadhaar Card

Residential Proof: In addition to the address proof, the submission of a residential proof is done to register a Limited Liability Partnership. The residential proof is for the validation of the current address of the Partner. The following documents are acceptable residential proof:

• Bank Statement
• Electricity Bill
• Telephone Bill
• Mobile Bill

The following documents are mandatory for Foreign Nationals registering an LLP:

Passport: In the case of NRIs (Non-Resident Indian), Passport is a mandatorily required as proof of identity. The Passport must be Notarized or authenticated in the country it was issued. If the document is in a foreign language, then the translation of the passport be done by an official into English. Further, if the date of birth of the holder is missing in the Passport, then an additional document containing the date of birth of the Partner must be provided. which will duly be certified or attested.

Address Proof: In addition to the Notarized Passport copy, the foreign national must submit an address proof which is also notarized. The address proof submitted must have the name of the Partner as stated in the Passport and the most current address of the Partner. Further, the documents submitted must also not be older than 1 year for foreign nationals. The following documents are acceptable as address proof for NRIs:

• Driving License
• Residence Card
• Bank Statement
• A government-issued form of identification containing the address of partners
• In case the document is in a foreign language, then it must be translated by an official translator and notarized or authenticated.

Residential Proof: Along with the address proof, submission of the residential proof is also done during the Limited Liability Partnership registration process for the validation of the current address of the Partner. As applicable to address proof, the residential proof also contains the name of the Partner as mentioned in the Passport and must not be older than one year. The following documents are acceptable residential proof:

• Bank Statement
• Electricity Bill
• Telephone Bill
• Mobile Bill

LLP Registration Fees

LLP formation starting from obtaining Digital Signature Certificate to Filing Form 3 takes approximately 15 days subject to availability of all the documents. Different CA firms are offering different LLP registration fees to people. LLP registration fees include the commission and government fees.

Now, get your business registered as a Limited Liability Partnership using LegalRaasta services. We are registering LLP companies starting with LLP registration fees of Rs.7,499 onwards. This LLP registration fees is very low as compared to other service providers.

For further information regarding DIN registration, PAN registration, TAN registration or DIR-3 Registration must follow our blog.

LLP Incorporation Rules

• Minimum  2 partners required to create an LLP Incorporation.
• There is nothing like Authorised share capital concept. Like in private limited company registration. so you can start with any amount of the share capital of the LLP Partners.

Link in with our expert team they will guide all the registration procedures. Give us a call on 8750008585. Do send your doubts on Email: contact@legalraasta.com.The easily accessible way is   LegalRaasta APP. Download it from play stores and use online ca services we have. We serve the best online ca services in the market, so why go anywhere else.

Related Posts:

Registeration of LLP company in India

LLP conversion into Private Limited Company

LLP Annual Return

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