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LLP Registration in Chennai

Solubilis provide LLP registration services in Chennai, Bangalore, Hyderabad, Cochin and anywhere in India. Limited liability partnership is a business form which combines the benefits of limited liability of the company and a flexibility of a partnership. This is a new form of corporate business available to the partners who wish to start small and medium enterprise. Limited liability partnership is governed by the limited liability partnership Act, 2008. The provision of Indian partnership Act, 1932 shall not apply to a LLP. LLP Act 2008 defines LLP as a limited liability partnership is a body corporate formed and incorporated under this act and is a legal entity separate from that of its partners and it has perpetual succession for the continuity of the partnership,which shall not affect the existence, rights or liabilities of limited liability partnership.

Basic elements of Limited Liability Partnership

  • It is a legal entity different from its members.
  • LLP is organised and operates on the basis of an agreement. It can hold property, borrow money etc. as a natural person.
  • LLP has flexibility in operation without imposing detailed legal and procedural requirements.
  • Less legal complexities in forming, running and managing the LLP. It is enough to have minimum two persons to maximum 20 members to form a LLP.
  • It is an investor friendly organisation which is a best alternative to the partnership used by the business community.
  • LLP, form of entity, will have a perpetual succession, which will continue forever.
  • LLP has all the flexibilities of a company and can be merged, amalgamated, wound up and dissolved.
  • Name of the LLP should carry the words “LLP” in order to identify the entity.
  • Partners as considered as an agent for the partnership firm
  • Partners cannot simply transfer their capital to another person without seeking the consent of all other partners.

Documents Required

  • PAN Card/ ID Proof of the Partners
  • Address Proof of the partners
  • Residence Proof of Partners
  • Photocopy
  • Proof of Registered Office Address
  • Digital Signature Certificate

FAQ'S

Limited Liability Partnership is a new form of business registration governed by Limited Liability Act, 2008. LLP is a separate legal entity and perpetual succession in line with private limited company. The major feature is liability of the partners is limited to the investment of capital amount. The partners are not personally liable for the debts of the company.

Minimum 2 designated partners are mandatory to from a limited liability Partnership. There will be not any maximum limit of partners prescribed for this LLP.

Digital Signature Certificate is an electronic form equivalent to physical or paper certificates. Digital Signature Certificate is used electronically as Identity of Individuals. It allows the availability to sign certain documents electronically.

Designated Partner Identification Number is assigned to the proposed Designated Partner of LLP. It is mandatory for all the Designated Partners. Designated Partner Identification Number is unique number and a person can have only one Designated Partner Identification Number. He can be appointed in any numbers of LLP with that Designated Partner Identification Number.

1. Copy of PAN – Mandatory
2. Copy of Aadhar Card / Driving license / Voter ID / Passport – Anyone.
3. Copy of Bank statement / Telephone bill / Mobile bill / Electricity Bill – Anyone should be latest of two months.
4. Copy of Passport size photo.

Limited Liability Partnership (LLP) registered in India must have a registered office - All communications will be sent to the address by Ministry of Corporate Affairs and other government concerns. The registered office of LLP can be anywhere in India. Copy of Electricity bill of premises required along with that rental agreement is required, if office taken on rent.

There is no capital limit to form a Limited Liability Partnership, We can start with a capital of even Rs.5000/-.

Yes, Foreign National / NRI can be designated partner in limited liability partnership, but it mandatory to have at least one Indian Resident to be Designated Partner.

Normally registration of limited liability partnership takes 10 to 15 working days. But the processing time varies subject to the provision of documents by client and the time taken by MCA for approval.

Yes, A Company or a partnership firm can be converted into LLP.

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