What is LLP registration, and how is it different from a private limited company?

An LLP combines the limited liability protection of a company with the flexibility of a partnership. Unlike private limited companies, registering as an LLP requires no minimum capital requirements and a simpler tax structure without dividend distribution tax.

How many partners are required to form an LLP in India?

A minimum of two partners is required to form an LLP, with at least two designated partners (one being a resident of India). There is no maximum limit on the number of partners.

How long does it take to register an LLP in India?

Typically, LLP registration takes 15-20 days, including name approval, document preparation, and certification, though complex cases may take longer.

What is the minimum capital requirement for LLP registration?

There is no minimum capital requirement for registering an LLP. Partners can contribute as per their mutual agreement and business needs.

Can foreign nationals be partners in an Indian LLP?

Yes, foreign nationals can be partners in an Indian LLP, but at least one designated partner must be a resident Indian. Foreign investment in LLPs is also subject to FDI regulations.

What are the annual compliance requirements for an LLP?

LLPs must file an Annual Return (Form 11) and Statement of Accounts & Solvency (Form 8) with the Registrar of Companies. LLPs with turnover exceeding Rs 40 lakhs must also get their accounts audited.

How much does LLP registration cost?

LLP registration costs vary from Rs 8,000 to Rs 25,000, depending on capital contribution, professional services required, and state-specific stamp duties.

Can an existing partnership firm or company be converted into an LLP?

Yes, existing partnership firms and private limited companies can be converted into LLPs by following specific conversion procedures under the LLP Act.

What happens if my LLP application is rejected?

If your LLP application is rejected, you can address the objections raised by the Registrar and resubmit the application. Alternatively, you can apply with a different name if the rejection was name-related.

Is LLP registration the same as LLP incorporation?

Yes, both terms refer to the same process of legally establishing an LLP. Once registered, the LLP receives a Certificate of Incorporation from the Registrar.

How often do I need to renew my LLP registration?

LLP registration doesn't require renewal. However, LLPs must comply with annual filing requirements to maintain active status.

Can the LLP Agreement be modified after registration?

Yes, the LLP Agreement can be modified with the consent of all partners. Any changes must be filed with the Registrar in Form 3 within 30 days of modification.

What documentation should I keep after registering my LLP?

Maintain the Certificate of Incorporation, original LLP Agreement, all partner details, capital contribution proofs, and all filings with the Registrar for at least 8 years.

How do I check my LLP registration status?

You can verify the registration status using the SRN (Service Request Number) provided during the application process.

What is the perpetual succession feature of an LLP?

Perpetual succession means the LLP continues to exist as a legal entity regardless of changes in its partners due to death, retirement, insolvency, or other reasons.

How do I add or remove partners after LLP registration?

Partners can be added or removed as per the procedure outlined in the LLP Agreement. Any such change must be filed with the Registrar in Form 4 within 30 days.

What is the tax limit for an LLP?

Tax rate: 30 % on total income + applicable surcharge & cess under the Income Tax Act, 1961. Audit requirement: Mandatory if turnover > Rs. 40 lakh or capital contribution > Rs. 25 lakh in a financial year.

Is LLP better than a traditional partnership?

LLP offers limited liability, separate legal entity status, and perpetual succession. Partnership exposes partners to unlimited liability and dissolves on a partner's change. For most professional/small-business uses, LLP is the safer, more stable choice.

How to cancel LLP Registration?

Here’s what you need to do to wind up an LLP company in India: File Form 24 (Application for strike-off) with the ROC under Section 79 of the LLP Act. Attach partner consent, statement of assets & liabilities, and NOCs from creditors. ROC publishes notice; if no objections, your LLP is struck off and dissolved.

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