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Starting a company in India is a dream of many, and you might be among them. But your dream of starting a business can be turned into reality! If you are seeking to utilize the combination of a traditional partnership with a private limited company, then LLP company registration can be the best choice.
With this legal structure, you will become the owner of a flexible business structure with limited liability protection.
What is the main thing that makes it more attractive?
With the registration of a Limited Liability Partnership (LLP), the partners receive the benefit of limited liability protection.
If you are still worried about the cost and the LLP registration process complexity, then we are here to reduce your tension. Company Registration Online has expertise in providing valuable assistance for business formation. In addition, the revolution of digital formation makes the registration process more approachable. Through this guide, you will know the LLP company registration key aspects, including supported documents, amounts, and special packages.
Read more in the next section!
Before exploring the different packages of LLP registration, let’s dive into the details of why its legal framework is ideal for growing businesses and startups. The major advantages offered by Limited Liability Partnership Formation:
Limited Liability: Are you worried about your and your company’s partners’ personal assets? This is where LLP’s legal framework reduces the burden by providing the limited liability protection benefit. This means partners’ financial wealth won’t be used to pay business debts.
Lower Compliance Burden: The compliance requirements in an LLP company are lower compared to a private limited company. It means you do not need to worry about registering LLP company costs and expenses.
Start with Any Amount: Feel free, as there is no minimum capital requirement for business registration in India as an LLP. If your dream is to build an LLP company, you can start with any capital amount contribution.
Flexibility in Management: The LLP agreement is the base that runs the whole LLP company. This agreement delineates the terms and conditions governing business management. It offers the valuable flexibility to operate the company accurately.
Unlimited Partners: To grow your registered limited liability partnership company, it can be joined by multiple partners. There is no cap on the maximum number of partners allowed.
These are the common reasons that make the limited liability formation one of the most preferred choices for small businesses, professional service firms, and growing businesses.
The initial question that may arise in your mind is, what are the LLP registration fees?
In the previous section, we discussed that there is no minimum capital requirement, which means you can start with any amount of contribution.
But still, there is a specific amount required for company formation!
However, when you leverage a package, it offers several services.
Must ensure the package will include:
Government fees are mandatory and fixed, and are required to be paid by every business applicant. The mandatory government fee is required to be paid to the Ministry of Corporate Affairs (MCA).
Professional Fees
Professional fees are an extra cost investment. With a consultant’s assistance and support, you can avoid expenses. They will guide you through the registration process.
The low-quality service will be your core discussion before engaging with an affordable LLP company registration package. The balance between both helps to navigate the process with lower investment. However, it is essential to know all the service packages to avoid the hidden costs.
Here is the checklist for you to choose a good and affordable package:
If you are going to engage in a consultation, you must ensure that you are providing a valuable service. Look for a service that offers good customer support.
Search for their service quality through Google reviews!
With the single window for company registration in India, forming a business has become easier.
The digital revolution made the process of company registration online approachable.
Well, the primary step for the company formation starts with getting the DSC and DPIN from the designated partners. It marks the online process foundation.
When the partners obtain these two important documents, they must apply for name approval, which should be unique. If this step is completed, move to incorporation by filing the form.
“FiLLiP” is to file the incorporation form!
This document contains details regarding the partners and the LLP agreement.
What is the last step of business formation?
The LLP agreement is the base of the company, which must be drafted within 30 days of company incorporation.
Lastly, the Certificate of Incorporation (CoI) will be issued.
Congratulations, your company is official!
Find the best deal on Company Registration Online.
We will guide you on how you can form a company as an LLP!
Keep connected for more updates.