The globally prominent form of the limited liability company, is also known as the limited liability partnership (LLP) in some countries of the world, including India. This limited liability partnership (LLP) is now one of the most popular and highly preferred forms of an incorporated company, in countries situated worldwide, for doing well-secured and highly profitable businesses in various economic fields. In ours this very informative and fertile web article, we are extending detailed information about how to register limited liability partnership in India, for doing business in any desired economic field, anywhere in the entire India.
Today, ours internationally popular full-service law firm of India, is widely famous for LLP registration on behalf of Indian and foreign entrepreneurs, professionals, businesspersons, and investors. The steps for registering a new LLP company in India, are also informed independently in the section below.
An LLP is the incorporated form of a legal company which is administered and managed privately and quite flexibly as per its LLP Agreement, and avails benefits of the limited liability like the limited companies.
The outstanding and most impressive reasons for LLPs being hugely popular worldwide are --- easy and quick formation and registration, flexible administration and management, ample advantages of the limited liability, no minimum recommended capital requirements by each partner, tax related concessions and exemptions, and perpetuity.
Steps for Registering a New LLP Company (Limited Liability Partnership)For LLP registration in all across India, there are needed only two partners at a minimum, one of whom must be a resident of India. The law immediately concerned with registration and regulation of LLPs in India is the Limited Liability Partnership Act of 2008. All processing regarding the establishment of an LLP anywhere in the whole country is performed with the Ministry of Corporate Affairs (MCA), the Govt. of India. The various steps for registering a new LLP company in India are as listed below:
- Governmental approval to the proposed names (at least four) of the LLP, and reservation of the same, through the Form-1
- Making of the DPINs and DSCs with support of MCA (www.llp.gov.in/-) using the Form-7
- Drafting all documents for administration and management of the LLP
- Filling in up the Form-2 and Form-4, and sending the same to www.llp.gov.in/-
- Preparing appropriate LLP Agreement, and submitting the Form-3, well within thirty days from the date of incorporation of the LLP