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LLP Registration in Kochi & Calicut

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Limited Liability Partnership

Limited Liability Partnership is considered to be the one of the simplest business structure to incorporate in India .The factors like lesser liabilities, easier compliance process and registration proceeds, LLP’S are well preferred .It comprises of the characteristics of a Partnership and also of Limited Company together. This business module was originated in India in April 2009 through the enactment of the Limited Liability Partnership Act, 2008.

LLP’s are registered in India under the Ministry of Corporate Affairs, Central Government .In an LLP, a partner isn’t held responsible or liable for another partner’s misconduct or negligence. The Partners have limited liability, pertaining to their own acts of errors. This legal entity provides for the partners to manage their business directly.

Documents required for Registration 

  • Identity Proofs to be submitted by Partners and Designated Partners 
    I.    PAN Card /Passport
    II.    Drivers License /Aadhar Card /Voter’s ID 
    III.    Bank Statements /Utility Bills – entries less than 3 months

Steps of Registration 

  • Application for DSC and DIN 

    The first and foremost process is to apply for Digital signatures of the partners of the LLP. All the directors must also apply for DIN. These are imperative steps as all applications are submitted and processed via online forms.
  • Name Approval 

    Just as other legal entities, Limited Liability Partnership also requires the name to be approved before its registration .Due diligence must be made in the selection of a name, which has no similarity to existing LLP’S or Trademarks etc.
  • Submission Of Documents 

    All the incorporation documents are then submitted to MCA for approval. The period for obtaining the aforesaid is usually 2-12 days. Consequently, an Incorporation Certificate shall be issued.

Post Incorporation procedures 

Once the LLP is incorporated, and the certificate is received .An application for PAN and TAN must be made. Simultaneously, an LLP Partnership Deed is to be formulated. The said process has to be completed within 30 days from the date of Incorporation This is a vital part in the process, as it determines the mutual responsibilities between the partners and LLP.

Benefits of LLP 

  • Suitable for small business and start-ups.
  • It variants the partners form the entity and remains separate .The partners have the right to sue in the respective situations.
  • Even though a partner may leave, the business shall remain. Transferring of ownership is also variably simple.
  • The LLP is qualified as a jurist person and can own or acquire a property.
  • Personal Assets or property of the partners aren’t affected even if the business turns in loss.