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4.8/5
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Limited Liability Partnership (LLP) is one of the preferred form of business structure among entrepreneurs due to its compliance flexibility. LegalSearch takes you through the process of registering an LLP, covering key steps, required documents, costs, benefits, and handling all your frequently asked questions. We'll also discuss the differences between LLP and other forms of business entities like Pvt. Ltd., OPC, and traditional partnerships.
Prior to initiating the LLP registration procedure it is crucial to comprehend the benefits that an LLP offers to its partners. An LLP merges the features of a partnership and a company granting its partners the benefits of limited liability along with the flexibility of a partnership structure.
Many times startups need to borrow money and take things on credit. Partners personal savings and property would be at risk incase business is not able to repay its loans. In a private limited company, only investment in business .
Private limited company is popular and well known business structure. Corporate Customers, Vendors and Govt. Agencies prefer to deal with Private Limited Company instead of proprietorship or normal partnerships.
Pvt. Ltd. company enjoys wide options to raise funds through bank loans, Angel Investors, Venture Capitalists, in comparison to LLPs and OPCs.
Investors prefer private limited companies as they are structured and easy to exit fromInvestors love to invest in Private Limited companies as it is well structured and less strings attached.
Startups can attract and retain employees more easily with corporate designations and stock options it is easy to hire people as well as motivate them with corporate designations and stock options.
Private Ltd. companies are simple to sell with minimal documentation and cost involvedPrivate Ltd is easy to sell, very less documentation and cost is involved in selling a Pvt. Ltd. company.
Minimum 2 Shareholders
DSC (Digital Signature Certificate) for 2 Promoters & 1 witness
DIN (Director Identification Number) for all Directors
Minimum 2 Directors
Suggested Authorised Share Capital 20,000 (INR Twenty Thousand)
One of the Directors must be Indian Resident
The directors and shareholders can be the same person
The following documents are needed for registering a Pvt Ltd company in India:
DIN for 2 Directors
MOA + AOA
Customized Incorporation Master File
Bank Account Opening Support
Digital Signature Token for 2 Promoters & 1 witness
Incorporation Certificate
Company PAN Card
Web Hosting + 10 emails for 1 Year
Company Name
PF + ESIC + Professional Tax
Company TAN/TDS
Web Domain Name for 1 Year
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Mr. Bikash Garabadau
Founder, Cosmo Trade
There was a little bit of anxiety and doubt when I contacted them as I was from one side of the country and they were from other side and I was new to online filing and documentation process. But the service I got from them was marvelous. These guys are so professional, that I never felt to be new to them. The execution of papers, documentation and processing was first class. They finished the assignment before committed time and pricing is absolutely affordable and value for money.
Existing businesses in India including companies and registered partnerships can undergo conversion into LLPs
your business has the capability to provide HIGH QUALITY
goods and services to its customers. Improves public image, Inspires confidence of the market and
helps
in growth of business, Helps in getting Govt. Tenders, Provides eligibility to enter global markets,
Good marketing tool.
It depends upon the size of the business and current level of management practices. Typically it may take from 5 to 90 working days.
licable to companies of any size or sector. Any business like Proprietorship
firm, Partnership, Private Limited Companies, LLP, One Person company, Public Ltd., Trusts, NGO,
Hospitals, Govt. Agencies.
They are the registered organizations eligible to issue ISO certificates to Companies adhering to ISO standards.
LLPs can be set up without any capital requirement making them a popular option, for medium businesses..
your business has the capability to provide HIGH QUALITY
goods and services to its customers. Improves public image, Inspires confidence of the market and
helps
in growth of business, Helps in getting Govt. Tenders, Provides eligibility to enter global markets,
Good marketing tool.
It depends upon the size of the business and current level of management practices. Typically it may take from 5 to 90 working days.
Key documents such as partner PAN cards, proof of address proof of registered office address and digital
firm, Partnership, Private Limited Companies, LLP, One Person company, Public Ltd., Trusts, NGO,
Hospitals, Govt. Agencies.
They are the registered organizations eligible to issue ISO certificates to Companies adhering to ISO standards.
