A partnership is an arrangement in which two or more individuals share the profits and liabilities of a business venture. Various arrangements are possible: all partners might share liabilities and profits equally, or some partners may have limited liability.
LLP Registration Services in Purnea
Limited Liability Partnership (LLP) is another corporate structure that consolidates the adaptability of a partnership and the benefits of limited liability of an organization at a low consistency cost. At the end of the day, it is an option corporate business vehicle that gives the advantages of restricted risk of an organization, however, permits its individuals the adaptability of arranging their inner administration on the premise of a commonly arrived understanding, similar to the case in a partnership firm. Owing to flexibility in its structure and operation, it would be useful for small and medium enterprises, in general, and for the enterprises in the services sector, in particular. Internationally, LLPs are the preferred vehicle of business, particularly in the service industry or for activities involving professionals.
We have a top professional team providing hassle-free and error-free Limited Liability Partnership Registration Services in Purnea, Bihar. Our experts are completing the majority of the limited liability partnership registration. The experts in our company have experience in the LLP Registration process in various industries. Chartered Accountants, Lawyers, and Company Secretaries make up our diverse team of experts.
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Eligibility Criteria for LLP Registration
To be eligible for registration as an LLP, the following criteria have to be fulfilled:
- At least two partners are required to form LLP
- If a corporate body is a partner, a natural person should be nominated to represent it
- There should be an agreed contribution of each partner to the shared capital
- The LLP should have an authorized capital of at least ₹1 lakh
- At least one designated partner must be an Indian resident.
Documents Required for LLP Registration
You will need the scanned copies of the following documents to register an LLP:
From partners:
- PAN Card or Passport (Foreign Citizen or NRI)
- Aadhar Card / Voter ID / Passport / Driving License
- Latest Bank Statement / Telephone Bill / Mobile Bill / Electricity Bill / Gas Bill
- passport size photograph
- Blank document with sample signature.
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FAQs for LLP Registration Services
Is LLP Registration Mandatory?
Yes, registration of LLP on Ministry of Corporate Affairs (MCA) portal is mandatory. An LLP has to obtain registration under the Limited Liability Partnership (LLP) Act to be a legally valid entity.
I am an NRI. Can I start an LLP Business in India?
Yes, NRIs and foreign nationals who wish to enter into LLP partnership can do so, provided they submit the required documents after getting it notarized by the relevant authorities. However, at least one of the designated partners in the LLP must be an Indian citizen.
Does LLP Require MoA and AoA?
No, the Memorandum of Association (MOA) and Articles of Association (AOA) are important documents of a company registered under the Companies Act, 2013. The LLP agreement governs the LLP and not the MOA and AOA. Thus, an LLP is not required to draft MOA and AOA. It has to draft the LLP agreement.
What is an LLP Agreement?
In LLP a LLP agreement is made between the partners and the LLP in respect of the relationship between the individual partners. LLP agreement usually includes management policies, induction of new partners, policy-making strategies, etc.
Should Directors be Appointed to an LLP?
No, there are no directors in LLP. An LLP does not require the appointment of directors or a board of directors. The partners control the business of the LLP. The partners take decisions regarding the functioning and business of the LLP. Thus, an LLP needs at least two partners at all times.
What is DPIN?
Designated Partner Identification Number (DPIN) is a unique number assigned by MCA to the designated partner of the LLP. DPIN is the same as the Director Identification Number (DIN) of a company director. DPIN can be obtained for any individual while registering the LLP, or an individual can subsequently apply for the DPIN to become the designated partner of the existing LLP.
