LLP stands for a Limited Liability Partnership. It has evolved as a crucial part of business/firm formation due to its simplicity of formation and easy maintenance. Owners can limit their liabilities through this route.

An LLP Company combines a private limited company’s liability features and a partnership firm’s versatility. No partner shall be liable for unauthorized acts of other partners. Thus, individual partners will be protected from joint liability arising from the misconduct of another partner. Professionals, micro and small businesses that own a family or are closely held are normally inclined towards the LLP organizational form.

The registration procedure is quite easy and transparent and it has a blend of the advantages of a company as well as a partnership firm.

LLP registration procedure incorporates the following steps:

  • Obtain a digital signature
  • Applying for Director Identification Number (DIN)
  • The Name Of The Company Must Be Approved
  • Filing of ‘Limited Liability Partnership Agreement’
  • Incorporation of LLP Registration

By partnering with KBP Advisory & Tax Consultancy, it is the most simple, smooth, cheapest, and fastest to implement a limited liability relationship. You can also do the annual LLP Registration filing with us!

What Is A Company Registration & How Is It Done In India?

A Private Limited Company is the most popular type of business formation in India. Not only is it easier to raise funds but it also provides the members with flexibility and easy access to bank loans. The registration procedure for a Private Limited Company is a bit complex but it is not that hard if the following steps are followed.

Company & LLP Registration

Basic requirements

  • The company must have at least 2 members.
  • The company should be created for legal business and should never prove harmful to society.
  • If the registrar issues a certificate of incorporation to any business entity that doesn’t adhere to the norms, then the certificate will be considered as void. The Central Government can cancel the registration and the corresponding action will be taken against the entity and the registrar.

Registration Procedure

Identity proof and address proof documents like PAN, passport, driving license, aadhaar card or voters identity card must be submitted for all the promoters.

Business Registration Document

1: Obtaining Digital Signature & DIN(Director Identification Number) for the directors in the company. It is followed by the application for the name of Private Limited Company.

2: One/more suitable names can be proposed by the promoters for the company as it offers the flexibility to the Registrar to choose the name in scenarios where a name is identical/similar to registered business entities. The name must not be similar/identical to any registered trademark or company.

  • The name shouldn’t be one that is prohibited in the ‘Emblems and names Act, 1950’.
  • It must have the suffix “Private Limited Company”.

After the submission, the registrar will analyze & approve one of the names. Generally, it takes 3 to 5 working days to approve the name for the company and registration procedure.

3: After approval, the promoters need to submit the application, prescribed fees, and the following documents:

  • Declaration from Directors
  • Affidavits of the Directors
  • Articles of Association
  • Memorandum of Association

A declaration must be provided that states that the requirements of the Act & the rules that have been framed thereunder are complied with. It has to be signed by the relevant people as required. The company must also provide relevant data related to its registered office within 15 days of registration or during the filing of incorporation documents.

4: In accordance with the Company Act 2013, a subscriber must sign his or her names with at least one company share. In the presence of at least one witness, every subscriber will sign the memorandum and clearly state the following:

  • Address
  • Occupation
  • Personal Description
  • Number of shares subscribed
  • Nature of the shares, etc.

5: After filing the above-mentioned documents and payment of necessary fees, the certificate of Company incorporation would be issued by the Registrar of Companies.

It is a complex and time-consuming process to register a Private Limited Company. KBP Advisory & Tax Consultancy can help businesses & organizations to simplify the registration process.

Mission

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