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Documents Required for LLP Registration
Following documents are required to be submitted by partners in scanned form.
- Specimen signature (blank document with signature [partners only])
- Latest passport-sized photograph
- Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
- Voter's ID/Passport/Driver's License , Aadhar card
- PAN Card or Passport (Foreign Nationals & NRIs)
Following documents are required to be submitted for the registered office in scanned form
- Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
- Notarized Rental Agreement in English
- In case of rented property, No-objection Certificate from property owner
- In case of owned property, Sale Deed/Property Deed in English
Note: Residence place can be used to run business; there is no requirement to have separate commercial space
Benefits of LLP Registration
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Limited liability of partners
In LLPs, there is limited liability of partners in respect of company’s debts. Personal assets of directors will be safe if the company goes bankrupt only the amount invested in starting the business will be lost. While In a General Partnership, partners are personally liable for all this debt. The partners would have to sell their personal possessions to do so.
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Reduced regulatory compliance and formalities
There is less government intervention and require to comply less formalities and regulatory compliance as compared to Private limited company. An LLP does not require audit if it has turnover less than Rs 40 lakhs or capital contribution less than Rs 25 lakhs.
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Tax benefits
As compared to Private limited company there are various tax advantages. In LLP Dividend Distribution Tax and tax surcharge don't apply as well as loans to partners are also not taxable as income.
LLP Registration Process
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6 Working Days for registration of DSC and DPIN
As mention above, for incorporating a LLP, it is mandatory to have partner’s Digital Signature Certificate (DSC) and Digital Partner Identification Number (DPIN). For this purpose, there is requirement to provide some scanned documents and we will ensure the forms are correctly filled.