LLP REGISTRATION in Mumbai

100% online process

Get your company registered without stepping out of your house. Email us the required documents and let us do the rest.

Company Vakil Guarantee

We take pride in our error free platform aimed on satisfying our clients, if you are still not satisfied, we refund your money.

Most efficient Registration Platform

At Company Vakil your Company incorporation's are handled by experts at every stage.

Making Company registration in Mumbai affordable and hassle free

Contact Us Now!

LLP REGISTRATION IN MUMBAI COST BREAKDOWN

ConsultancyFREE

Trademark Name SearchFREE

Government Fee for Individuals and startups Rs 1750.00*

Professional fees Rs 4580.00***

TotalBuy Now Rs 8500.00**

What is LLP?

 

A partnership in which some or all partners have limited liabilities is known as a Limited Liability Partnership (LLP). LLP possess characteristics of both partnerships and corporations. Partners of LLP are not responsible or liable for another partner's misconduct or negligence. In a LLP, partners have a form of limited liability just like that of the shareholders of a corporation. In certain countries, as per the rules, a LLP should also have at least one person known as a "general partner" who would have the unlimited liability of the company. The partners of LLP have the right to manage the business directly. However, this right is not available to corporate shareholders. On contrary, corporate shareholders have the right to elect a board of directors under the laws of various state charters. The board organizes itself and hires officers as corporate individuals and their legal responsibility is to manage the corporation in its best interest. A LLP also has a different structure of tax liability as compared to that of a corporation.

In certain countries, Limited liability partnership requires at least one unlimited partner and allows other partners to be in the role of a passive and limited liability investor. As a result, the LLP form of organization is more suitable for businesses in which all investors wish to take an active role in management.

 

LIMITED LIABILITY PARTNERSHIP Registration in Mumbai

 

Mumbai (aka Bombay). the largest city Located on the western coast of the country, it is a collection of seven islands. The coasts form a major part of the tourism industry in Mumbai with the Gateway, Haji Ali Dargah, Juhu Beach, and the Elephanta caves as the main source of attraction. Another ‘not to miss’ a fact about Bombay that it is one of world's biggest film industry, popularly known as Bollywood. Mumbai is also the land of major financial institutions like the Reserve Bank of the country, the National Stock Exchange, the Bombay Stock Exchange, SEBI, etc. It is a cosmopolitan city and is a home for people from all the diversified cultures. You can go for an LLP Registration in Mumbai with  help of  Company Vakil.

On 9th January 2009, the Limited Liability Partnership Act, 2008 was published in official Gazette of the country and has been notified with effect from 31 March 2009. On 1 April 2009, the rules have been notified in the official gazette. Our country's first LLP was the legal consultants of Handoo and Handoo, which was incorporated on 2nd April 2009.

LLP is different from a Limited Partnership. In an LLP each member is liable up to the extent of their capital contribution in the LLP.

  1. LLP in Mumbai is treated like any other partnership firm for the purposes of taxation (service tax or any other stipulated tax payment).
  2. Partners’ share is limited to their agreed contribution in the LLP.
  3. Further, no partner would be liable on account of the independent or unauthorized actions of other partners, thus allowing individual partners to be shielded from joint liability created by another partner's wrongful business decisions or misconduct.
  4. Just like corporate entity, LLP is a body corporate and a legal entity which is separate from its partners. It has perpetual succession. The Partnership Act, 1932 does not govern the LLPs and there is no upper limit on the number of partners in a LLP. The Act makes it obligatory that one of the partners to the LLP should be a resident.
  5. Provisions have been made for mergers, amalgamation, and corporate actions.
  6. While enabling provisions in respect of winding up and dissolution of LLPs have been made, detailed provisions in this regard would be provided by way of rules under the Act.
  7. LLP's shall be registered and controlled by the Registrar of Companies (Roc).

 

Reasons to register for Limited Liability Partnership ( LLP Registration in Mumbai )

 

  • ·Low cost of Registration - Firstly, registration and formation of a Limited Liability Partnership involves very low costs and expenses as compared to that of a company or a traditional partnership firm.
  • Flexible Structure of business - Limited Liability Partnership is the most flexible form of business where the partners themselves frame the rules for their governance.
  • Perpetual Succession for partners - The registration of LLP gives it a separate status of a legal entity, i.e. a legal entity separates from its partners. So, this gives the LLP perpetual succession.
  • No Minimum Capital Requirements - For the purpose of registration, there is no requirement of such minimum capital for a LLP. It is an internationally renowned form of business and can be easily registered online.
  • No Limit on Partner - There are no restrictions as to the maximum number of partners in an LLP, so even if there are 2 partners in the LLP, they can register it successfully.
  • Government Subsidies - Registering the LLP helps in getting certain subsidies and reliefs from the government like tax exemption. Unlike a company, no tax is levied on profit distributed to the partners.
  • Partner's Limited Liability - LLP mode of business, limits the liabilities of the partners i.e. the personal assets of the partner are not exposed except in case of fraud. No partner in an LLP shall be liable for the misconduct of the other partner(s).

 

Advantages & Benefits of LLP Company Registration

 

  • Low Formation and Registration charges: The cost and expenses of incorporation of an LLP in Mumbai are less as compared to those of a Company. The registration fee is also economic. Therefore, it is easy to establish a LLP.
  • No maximum number of partners: There are no restrictions as to the upper limit of partners in a LLP, so if there are at least 2 partners in the LLP, they can register it successfully.
  • No minimum capital requirement: There is no minimum capital requirement for the purpose of formation of LLP as compared to a Company. A LLP can be formed with the least contributed capital.
  • Certain Tax exemptions: Registering the LLP helps in getting certain subsidies and reliefs from the government like tax exemption. Unlike a company, no tax is levied on profit distributed to the partners.
  • Separate Legal Entity: Once the LLP get registered it has a separate legal status and it is treated as a separate person in the eyes of law. This means that the LLP has a separate legal existence from that of its partners.
  • Flexibility: The formation of LLP ensures flexibility in LLP incorporation, operations, and management without imposing detailed legal and procedural requirements.
  • Perpetual Succession: Even if the partners of the LLP keep changing, the LLP exists.
  • Internationally renowned: LLP is an internationally renowned form of business in comparison to a Company.
  • Limited Liability of Partners: The partners of LLP have limited liability which means that the personal assets of the partners are not liable to be sold off during any contingency except in case of fraud by the partner.

 

Process for LLP Registration in Mumbai

 

  • Acquire DPIN, Acquire DSC: DPIN stands for Designated Partner Identification Number. For obtaining DPIN for the partners, DSC – Digital Signature Certificate is required. After obtaining the DSC of the proposed partner, the next step is acquiring the DPIN.
  • Register DPIN, DSC with LLP: After obtaining the DPIN and DSC, it needs to be registered immediately. This embarks the registration of the proposed LLP in Mumbai.
  • Check Name Availability: Deciding on an appropriate name for the business plays a crucial part in the formation of LLP. So, an application for reservation of name is to be submitted to the Ministry of Corporate Affairs. Further, the application shall be scrutinized by the Registrar of Companies (ROC). Once the name selected is available then such application is approved. In case such name is registered by any other firm then selection of another name is to be made and submitted within a stipulated time of 60 days of notice of the rejection of name.
  • Download LLP Forms: After the approval of the name and all the necessary verification, one can download the LLP forms online. The form needs to be duly filled along with the submission of relevant documents including PAN Card/ID Proof of the Partners, Address proof of the registered office of the LLP & its partners etc.
  • File electronically: The actual providing of information submission of documents takes place during filing for incorporation of LLP. The partners need to submit such information and documents within the prescribed time limit.
  • Track Status: It takes time to process the application due to a number of application requests with the ROC. So, one need to be patient enough to get their application processed. For this purpose, applicants are provided with the facility to track the status of their application online.
  • Receipt of Certificate: Once the application is accepted, the Registrar issues the Certificate of Incorporation. After such issue, the LLP shall be considered to be registered.
  • LLP is ready to function: It takes time to process the application due to a number of application requests with the ROC. So, one need to be patient enough to get their application processed. For this purpose, applicants are provided with the facility to track the status of their application online.

Advantages & Benefits of LLP Company Registration

 

  • Low Formation and Registration charges: The cost and expenses of incorporation of an LLP in Mumbai are less as compared to those of a Company. The registration fee is also economic. Therefore, it is easy to establish a LLP.
  • No maximum number of partners: There are no restrictions as to the upper limit of partners in a LLP, so if there are at least 2 partners in the LLP, they can register it successfully.
  • No minimum capital requirement: There is no minimum capital requirement for the purpose of formation of LLP as compared to a Company. A LLP can be formed with the least contributed capital.
  • Certain Tax exemptions: Registering the LLP helps in getting certain subsidies and reliefs from the government like tax exemption. Unlike a company, no tax is levied on profit distributed to the partners.
  • Separate Legal Entity: Once the LLP get registered it has a separate legal status and it is treated as a separate person in the eyes of law. This means that the LLP has a separate legal existence from that of its partners.
  • Flexibility: The formation of LLP ensures flexibility in LLP incorporation, operations, and management without imposing detailed legal and procedural requirements.
  • Perpetual Succession: Even if the partners of the LLP keep changing, the LLP exists.
  • Internationally renowned: LLP is an internationally renowned form of business in comparison to a Company.
  • Limited Liability of Partners: The partners of LLP have limited liability which means that the personal assets of the partners are not liable to be sold off during any contingency except in case of fraud by the partner.

TIME TAKEN in registration process

1 day

DIGITAL SIGNATURE CERTIFICATE (DSC)

1 day

DIRECTOR IDENTIFICATION NUMBER (DIN)

5 to 7 days

COMPANY NAME CHECK & APPROVAL

5 to 7 days

INCORPORATION DOCUMENTS

Frequently Asked Questions

 

1.      What is a LLP?

LLP i.e. Limited Liability Partnership is a Mix of both Private Limited Company and Partnership Firm. A Partner’s Liability is limited by the Amount of his Share into the LLP. A partner is not liable for another partner’s default.

 

2.      How many Partners are required to incorporate an LLP in Mumbai?

Minimum of 2 Partners is required to incorporate an LLP in Mumbai.

 

3.      Is a Limited Liability Partnership apt for Raising Funds?

No, LLP is not the right structure for raising funds from private investors. Investors prefer a stake via equity of a company rather than being a partner in an organisation.

 

4.      What is a DSC i.e. a Digital Signature Certificate?

DSC is considered as an identity of a partner. It’s an electronically encrypted signature unique to a particular person and has been made mandatory by MCA for the partners of an LLP.

 

5.      Minimum Capital Required to Incorporate a LLP?

Incorporation of LLP in Mumbai, does not have any requirement of minimum capital, an LLP can be incorporated with any amount of Capital as decided amongst the Partners.

 

6.      Who can be a Partner in a LLP?

A person should be 18 Years or above in age. No limitation on their residency and citizenship. Foreign Nationals and foreign Companies can also form an LLP Registration in India provided there is at least one partner who is a Resident & have a corresponding address here.

 

7.      Can an LLP be converted into a Pvt Ltd. Company?

Currently no, an LLP can’t be converted into a Pvt. Ltd. Company, as they are governed by 2 different Acts and both of them, are silent on this matter, but vice-versa is possible.

8.      Can a Partnership Firm be converted into a LLP?

Partnership Firm can be converted into an LLP and it’s very advantageous to do so, as the liability of the Partners become limited to their share amount.

9.      Is it mandatory to file and get registered the partnership agreement under LLP?

It is mandatory to execute and file LLP Agreement in view of Section 2(o) & (q), 22 and 23 of the Act. As provided in the LLP Act, in the absence of agreement as to any matter, the mutual rights and liabilities shall be as provided under Schedule I to the Act.

 

10.  Can an existing company converted to LLP?

Yes, any existing private company or existing unlisted public company can be converted into LLP by complying with the Provisions of clause 58 and Schedule III and IV of the LLP Act. Form 18 needs to be filed with the registrar along with Form 2 for such conversion.

 

11.  Can a listed company be converted to LLP?

No, only private/unlisted public company can be converted into a LLP.

OUR SERVICES ACROSS INDIA

GST registration in Mumbai, Trademark Registration in Mumbai, Private Limited Company Registration Mumbai, Limited Liability Partnership in Mumbai, One Person Company Registration in Mumbai, Copyright Registration Mumbai, Private Limited Company Registration in Delhi NCR, Private Limited Company Registration in Hyderabad, Private Limited Company Registration Bangalore, Private Limited Company Registration Kolkata, GST Registration in Hyderabad, Trademark Registration in Hyderabad, GST Registration in Kolkata, GST Registration in Bangalore, Msme Registartion in Hyderabad, Trademark Registration in Bangalore, Trademark Registration In Kolkata, MSME Registration in Delhi NCR, MSME Registration In Kolkata, MSME Registration in Bangalore , MSME Registration in Mumbai, Private Limited Company Registration in Jaipur, Trademark Registration in Delhi NCR, GST Registration in Jaipur, Trademark Registration in Jaipur, Trademark Registration Ahmedabad, Private Limited Company Registration in Ahmedabad, GST Registration in Ahmedabad, Limited Liability Partnership in Kolkata, Patent Registration in Kolkata, One Person Company Registration in Kolkata, Co-Founder's Agreement in Mumbai, Copyright Registration in Pune, Copyright Registration in Jaipur, Employment Contract in Mumbai, Employment contract in Jaipur, Employment Contract in Pune , Import Export Code in Mumbai, Founder Agreement in Pune, Founder's agreement in Jaipur, LLP Registration In Pune, GST Registration In Pune , Patent Registration In Mumbai , Terms of Service Agreement In Mumbai, IE Code Registration in Pune, IEC Registration in Jaipur, Trademark Assignment In Mumbai, Trademark Objection In Mumbai, Trademark assignment in Jaipur, Trademark Renewal in mumbai, , OPC Registration in Jaipur, Trademark Renewal In Jaipur, Terms of service agreement in Jaipur, Trademark Objection in Jaipur, MSME Registration in Jaipur, Copyright Registration in Delhi NCR, Employment Contract in Chennai, Patent registration in Hyderabad, Employment Contract in Delhi NCR, Founders Agreement in Chennai , Terms of service in Hyderabad, Founder’s Agreement in Delhi NCR, Employment contract in Banglore, Import Export Code Registration Chennai , Import Export Code In Delhi NCR, Copyright registration in Bangalore, LLP Registration in Delhi NCR, LLP Registration in Chennai, Founder agreement in Bangalore, Copyright registration in Hyderabad , OPC Registration In Chennai, IEC Code in Bangalore, Employment Contract in Hyderabad , Import Export Code registration hyderabad , Patent Registration In Chennai, OPC Registration in Bangalore, LLP registration in Hyderabad, Term of Service Agreement In Chennai , Patent registration in Bangalore, OPC Registration in Hyderabad, Trademark Status Objected In Chennai, LLP Registration in Bangalore, Trademark Assignment in hyderabad, Trademark Registration in Chennai, Trademark assignment in Bangalore, Trademark Objection in Hyderabad, Trademark objection in Bangalore, Trademark Renewal in Hyderabad, Trademark Renewal in Bangalore, Patent Registration in Delhi NCR, OPC Registration in Delhi NCR, Trademark Status Objection in Delhi NCR, Trademark Renewal in Delhi NCR, Trademark Assignment In Delhi NCR, GST Registration in Delhi NCR, Terms of Service Agreement in Delhi NCR, Terms of Service Agreement In Bangalore, LLP Registration In Jaipur, Trademark Assignment in Ahmedabad, Patent Registration In Jaipur, Copyright Registration in Ahmedabad, Trademark Renewal In Pune, Employment Contract in Ahmedabad, Trademark Registration in Pune, Founders Agreement in Ahmedabad, Trademark Assignment in Pune, LLP Registration in Ahmedabad, Terms of Service Agreement Pune, opc Registration Ahmedabad , Patent Registration in Pune, Patent Registration in Ahmedabad, OPC Registration in Pune, Terms of service in Ahmedabad, Trademark Renewal in Ahmedabad, MSME Registration in Pune, MSME Registration in Ahmedabad, Company Registration in Chennai, Trademark Assignment in Chennai, Copyright Registration In Chennai, GST Registration in Chennai