How to Incorporate a New Limited Liability Partnership Registration India

How to Incorporate a New Limited Liability Partnership Registration India


A LLP has the benefits of both a company and partnership firm. It is a legal entity with separate liabilities and profits, and it is easy to set up and manage. The LLP form is ideal for all types of entrepreneurs whether they are traders, manufacturers or professionals. It provides a more credible business structure and is preferable for foreign investments in India.

The process of forming an Limited Liability Partnership is simpler and faster than that of registering a private limited or a public limited company. Moreover, an LLP has the flexibility to raise funds from outside investors. Also, it does not require any minimum capital requirement before incorporating.

One needs to file a Form 2 with the Registrar of Companies (ROC) in order to register an LLP. The application has to be digitally signed by a designated partner having DIN and a valid Digital Signature Certificate (DSC). In case of foreign nationals or NRI's, the passport compulsorily needs to be submitted along with the other documents.

The other essential document is the LLP Agreement which specifies the rights, duties and responsibilities amongst the partners. The LLP Agreement has to be printed on Stamp Paper and the value of the stamp paper varies from state to state. Once the LLP is registered, the ROC will issue the Incorporation Certificate within 5 to 7 working days. After that, the LLP will need to get its PAN and TAN and open its current bank account.

 

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