Limited Liability Partnership (LLP) In Hyderabad

LIMITED LIABILITY PARTNERSHIP REGISTRATION IN HYDERABAD

Limited Liability Partnership is the most preferable form of business for entrepreneurs as it includes both the qualities of a Company and a Partnership firm in a single form of organization. To start a business as a Limited Liability Partnership, then it must get Limited liability partnership registration Hyderabad  under LLP Act 2008. The LLP can continue its existence irrespective of the change in partners. It is capable of entering into contracts in its own name. Furthermore, every partner is shielded from the liability of other partners for the wrongful business or misconduct. The winding up may be done voluntary or by the tribunal establishes under Companies Act,1956. The Indian Partnership Act,1932 is not applicable on LLP. Some features of LLP are:

1. It is a separate legal entity like companies.

2. No concept of minimum capital contribution.

3. ere are less compliance and regulations.

4. The liability of each partner is limited to the contribution.

5. The cost of forming LLP is low.

6. The minimum number of partners required to form an LLP is 2.There should be 2 designated partners who shall be individuals, and one must be an Indian between them.

7.No maximum limit of members is mentioned in the Act.

Hyderabad along with its old ancient and antique rich culture is equally modern and developed and is growing significantly. It also is the home for Asia's biggest and one of the world's biggest convention center called as HICC Hyderabad international convention center and one the most technologically advanced convention center of India.

REASONS FOR LLP REGISTRATION IN HYDERABAD

The following are the reason for LLP registration HYDERABAD:

1. An LLP is a legal entity and a juristic person. A partner has no liability to the creditors of an LLP FOR THE DEBTS.

2. An LLP has a perpetual succession that is continued existence until it is legally dissolved.

3.LLP doesn’t require any audits if it has less than 40 lakh of turnover and 25lakh of capital contribution.LLPs are good for small businesses and start-ups that have minimal regulatory compliance.

4. The ownership can easily be transferred to another person by including them as a partner.

5. An Limited liability partnership Hyderabad, being an artificial person can acquire, own and sell property in its own name.

NEED FOR LLP REGISTRATION IN HYDERABAD

The following are the need for LLP registration in Hyderabad:

Limited Liability Partnership is a newly introduced concept for medium and small sized businesses. It provides many of the benefits of a Private Limited Company. The Limited liability partnership registration in Hyderabad fee is low and easy to maintain an LLP. Its procedure of formation is very much similar to the procedure of a Private Limited Company. LLP Registration Hyderabad is what vests such personality upon the legal entity. It is done by the registrar of the Company.

PROCEDURE OF LLP REGISTRATION IN HYDERABAD

The procedure of LLP registration in Hyderabad is mentioned as in hereafter:

1. Before going into the process of LLP, one must apply for Digital Signature because all the documents for Limited liability partnership Hyderabad are filed online and they require Digital Signature. So, they must obtain Digital Signature from the certifying agency.

2. Digital Identification Number(DIN) must be applied for all the designated partners of the proposed LLP. Earlier these partners have to apply for DPIN(Designated Partner identification) and now DIN is required. For this scanned copy of Aadhar Card is attached to the form. The form must be signed by Company Secretary, Chartered Accountant, or Advocate.

3. Now there is reservation of name. The name is searched through search facility or on Ministry Of Corporate Affairs.Inform-1 6 preferences of the name are to be written. The registrar will approve the name only if it is not resembling with the other name and is not undesirable in the opinion of Central Government.

4. Form 2 is the application form for the incorporation of an LLP. All the details must be filled in a correct manner as the name of the designated partners and each partner’s contributions, etc. Fees are submitted by the contributions of partners. The form must be digitally signed by a person who is a designated partner having DIN. Also, it has to signed by the Chartered Accountant, Advocate, etc. It takes 15-20 days for the registration of LLP subject to government.

5.LLP agreement governs the mutual rights and duties of the designated partner. In Form 3 LLP agreement is filed. Form 3 for LLP agreement has to be filled within 30 days of the incorporation. Then the agreement has to be printed on Stamp Paper.

Get your LLP registration Hyderabad done by companyvakil.com with quick and hassle-free service.

MINIMUM REQUIREMENTS FOR LLP REGISTRATION IN HYDERABAD

The pre-requisite for the formation of LLP registration in Hyderabad are:

1.Minimum of 2 partners(they can be Body Corporate and an Individual).

2. Minimum of 2 Designated Partners whoa re individual and one of them must be an Indian.

3. There should be a Digital Signature Certificate.

4.Limited liability partnership Hyderabad name must be there.

5.LLP agreement must be there.

6. There must be a registered office.

7. An LLP registered outside India can establish an office in India but the condition is that it must comply with all the provisions of the LLP Act,2008.