Limited Liability Partnership Registration Service
A Limited Liability Partnership (LLP) is a modern, practical business organization. Combining the ideal of partnership with the security of limited liability, an LLP is an ideal vehicle for entrepreneurs to collaborate and create with confidence. A Limited Liability Partnership (LLP) is one particular form of business organization which possess both aspect of partnership, as well as aspects of a company. In LLP, partners have limited liability like any shareholder of a company, but it also allows flexibility and ease of a partnership. Limited Liability Partnership even gives the LLP its legal identity so that it may enter into legal proceeding, and may be entered it into legal proceeding independently of to its partners. This is a benefit for entrepreneurs in many sectors, because LLPs provide partners with asset protection, and are easier to be compliant with as compared to more traditional corporations. LLP was enacted in India as a business vehicle in 2008 and is under the supervision of the Limited Liability Partnership Act. ONG started its first LLPs with Rampur Construction LLP in 2010 and has founded many LLPs subsequently. LLPs are an appealing and flexible business structure for businesses of all kinds.
Certicom Your Partner in LLP Registration
Certicom makes it easy to register your LLP in India. It's what many businesses depend on us to help them with when they are setting up and making sure they are following the rules while also registering their Limited Liability Partnerships. Our team of Experts will walk you through the complete online registration process from start to finish. This means registering an LLP online is the fastest and cheapest way to register an LLP. Start today and put your business on the right track with LLP registration online as a start to your new business future.
LLP Registration Prerequisites and Eligibility Conditions
At least two partners
To set up a Limited Liability Partnership in India, there must be at least two partners, and there is no upper limit on the number of partners!
Designated Partners
Within the partnership framework, at least two designated partners are obligatory, and they must be natural individuals. At least one of these designated partners must also maintain residency in India.
Nomination for Body Corporate Partner:
If a body corporate assumes the role of a partner, the designation of a natural person must act as its representative.
Agreed Contribution
Each partner is required to contribute the shared capital of the LLP, as stipulated and agreed upon.
Minimum Authorized Capital:
The LLP is mandated to possess an authorized capital of at least Rs.1 lakh.
Indian Resident Designated Partner:
At least one designated partner of the LLP must hold a resident status in India.
Characteristics of LLP
Legal Identity
Like big companies, an LLP has a separate legal identity. This means it's seen as its own "person" regarding rights and responsibilities, separate from those who own it.
At Least Two Partners
An LLP needs at least two people to start it. This teamwork helps in setting up the business and working together
No Partner Limit
Unlike some other businesses, there's no highest number of partners an LLP can have. This makes it easy to grow and bring in more partners.
Two Designated Partners
An LLP has to have at least two "main" partners. These people must be real individuals, and at least one should live in India.
Limited Responsibility
One big plus of an LLP is that if something goes wrong, each partner is only responsible for what they put in. So, personal things are safe from business problems.
Cost-Effective Start:
Starting an LLP costs less than setting up a big company. This makes it a great option for smaller businesses.
Less Rules to Follow
LLPs don't have to follow as many rules and regulations as big companies. This means less paperwork and less to worry about.
No Minimum Money Needed
Unlike big companies, you don't need a certain amount to start an LLP. Partners can invest what they can afford.
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