Limit Liability Partnership
For Traditional Businesses- 2 Partners
- 1 LLP Agreement
- 2 PAN Card + 1 TAN Card
- 1 Digital Signature for 1 Partner
- LLP TAN/TDS Number
- GST (Optional)
What You Will Get
DIN for 2 Partners
LLP Agreement
Master File of all docs filed for Incorporation
Digital Signature for 1 Partner
LLP PAN Card
Incorporation Certificate
LLP TAN/TDS Number
Incorporation Certificate
Company PAN Card
Company Name Approval
Company TAN/TDS Number
Documents Required
Only Scanned Copies are needed, Scanned copy of PAN Card of all directors and Aadhar card/ Voter ID/ Passport/ Driving licence
Premises
Rent agreement – NOC
Electricity bill
Photos of directors
Aadhar card
Pan card
Specimen signature
Self-declaration about the directorship
Benefits
LIMITED LIABILITY
Keeps your personal assets safe. Your exposure is limited to the amount you invested
CONTINUITY OF BUSINESS
LLP continues to exist beyond the existence of its Partners. This is not possible in traditional partnership firms.
TAX BENEFITS
LLP Company has several tax benefits over other form of organisations.
MARKET GOODWILL
Limited Liability Partnership (LLP) is a popular and well known business structure in the world. Corporate Customers, Vendors and Govt. Agencies prefer to deal with LLP instead of proprietorship or normal partnerships.
Company Registration Cost
We are 100% Transparent
Limited Liability Partnership, is the most suitable business entity if going for a partnership that gives the benefits of minimum compliances, limited liability and tax advantages. It is ideal for small and medium-sized businesses.
| Company Name Search | Free |
| Consultancy on Registration and Name Availability | Free |
| 2 DSC’s | 2,000.00 |
| Government Fees | 1,750.00 |
| PAN and TAN Fees | 170.00 |
| Professional Fees | 3,332.00 |
| Goods & Service Tax | 747.00 |
| Total Cost | 7,999.00 |
* The above mentioned government fee has been calculated on minimum contribution of Rs.100000
* Stamp duty for LLP agreement has to be borne by the applicant
How long does it take?
15 days
DAY 1
Digital Signature Certificate
1 Working Day
DSC is an electronic online signature issued by licensed certifying authorities. All the proposed directors of the company required to apply for the digital signature (DSC) which is necessary for digitally signing the electronic incorporation documents. DSC can be obtained either using supporting documents or Aadhar eKYC based authentication (supporting documents are not required in this case).
DAY 2
Director Identification Number
1 Working Day
DIN or DPIN, i.e. directors PIN is a unique eight-digit identification number which is a mandatory requirement for existing as well as proposed directors of the company to maintain the director’s information in a database. MCA allots a DIN to every director of the company with a lifetime validity without which one cannot be a director. These documents can be obtained within 2 working days. You just need to submit a few prescribed documents with us and our attorney will fill the prescribed form and submit it on your behalf
DAY 3-5
Name Approval
5 Working Days
After obtaining DSC and DIN, the next step is name approval. We will ask you for a few names of your choices and our representative will conduct a prior search for your name availability of your choices in order to avoid rejections. A list of minimum one or maximum two proposed names of the LLP in preferential order will be submitted to the authority via RUN for approval. Out of two names, a name is reserved by the ROC and the LLP is registered with the same name.
DAY 5-9
Incorporation Documents
9 Working Days
After taking name approval, we file LLip form for LLP incorporation and thereafter we draft an agreement for your partnership. Once all the documents are duly verified and approved by the government, the certificate of incorporation is emailed to your id. LLP-3 will be file after the LLP incorporation
DAY 10
Completed
Note:
The given timeline is based on the average time it takes a client to complete the service when all the documents are submitted and the Government platform is working seamlessly. The given timeline days is subject to change from client to client based on various factors.
Frequently Asked Questions
What are the most popular forms of business entities in India?
- Private Limited Company
By virtue of section 2(68) of the Companies Act, 2013, Private Limited Company is a type of company which offers limited liability with certain restrictions defined in regulations:
- restricts the right to transfer shares
- Limits the numbers of its members to 200
- Prohibits any invitation to the public to subscribe for any shares in, are debentures of the company(No Public Trading of Shares)
- Prohibits any invitation or acceptance of deposits from persons other than its member
- The word ‘Private Limited’ must be added at the end of its name
- One Person Company
One Person Company popularly known as OPC introduced in India under the Companies Act, 2013. The concept of OPC is a fusion of sole proprietorship and private company which intends to permit single economic entrepreneurship to take the advantages of a corporate form of organisation.
- Limited Liability Partnership
Limited Liability Partnership is a corporate entity registered under Limited Liability Partnership Act, 2008. It is a form of partnership firm that enjoys limited liability. It is a hybrid form of a partnership that includes the features of a company. Compliances for a company are applicable to LLP.
Does one have to present physically to incorporate a business entity?
No, the whole incorporation process is online. You can send the scanned copy of all the required incorporation documents via e-mail. All the forms and documents are filed electronically and even signed digitally.
How to choose a name for a business entity to avoid rejection?
The company name should be selected with utmost care. The rules for selecting a company are:
- The name should be ended with the words “Private Limited” in case of private company, “OPC” in case of one person company and “LLP” in case of limited liability partnership which is mandated by law.
- The name must be unique.
- Follow the naming guidelines for better chances of approval.
- The name should be suggestive of the main objectives to be taken by the business entity.
What are the mandatory compliances after the incorporation of a business entity?
- Private Limited Company
- Appointment of auditor
- Statutory audit of accounts
- Filing of annual return
- Filing of financial statements
- Holding Annual General Meeting (AGM)
- Prepare directors’ report
- Filing of income tax return
- One Person Company
- Appointment of statutory auditor
- Holding Board Meetings (BM)
- Filing of financial statements
- Filing of annual return
- Limited Liability Partnership
- Filing of financial statements
- Filing of annual return
- Filing of income tax return
- Appointment of auditor
- Filing of LLP annual return
Can a business entity register on the residential address?
You don’t need a proper office to incorporate a business entity. You can register your residential address as a registered place of your business with MCA for which some address proof along with the NOC (No Objection Certificate) has to be filed with the prescribed form.
Can an NRI allow to incorporate a business entity in India?
NRIs only allowed to incorporate limited business entities in India including private limited company and limited liability partnership. Also, there is no requirement to obtain the prior approval from the government or RBI. But, in order to register a private company or an LLP at least one director/partner must be a resident of India. However, the private limited company is ideal for NRIs.
Which business entity is the most suitable for start-ups and why?
In order to execute the idea into a long-term business, choosing the right form of business is important. For start-ups, Private Limited Company is the best option for the following reasons:
- Limited legal compliances
- No minimum capital contribution
- Need only 2 directors and shareholders (both can be the same person)
- Funding can be raised
- Limited liability of the members
What is the minimum investment required to start a business entity in India?
As per the relevant Act, there is no minimum requirement for Paid-up Share capital or contribution to incorporate a private company, one person company or limited liability partnership. However, each shareholder/partner should subscribe to a minimum one share of Rs.10 face value.
Location
Office No. T-4, S-521/522, 3rd Floor Moon House Building, Laxmi Nagar, Delhi, 110092
Contact Us
+91-7050056056
support@licitwink.in