Do you wish to get the benefit of a partnership & a Private Limited company in Mumbai? Register a Limited Liability Partnership in Mumbai. Prices start from INR 5999/- only.
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LLP is a corporate business vehicle that enables professional expertise and entrepreneurial initiative to combine and operate in flexible, innovative and efficient manner, as a hybrid of companies & partnerships providing benefits of limited liability while allowing its members the flexibility for organizing their internal structure as a partnership.
A limited liability partnership (LLP) is a formal partnership between at least two business partners. The reason why LLP registration in Mumbai will be beneficial is that in LLP Each business partner is provided with limited liability, which means they are not fully responsible for the business’ debts or liabilities. Partners in an LLP aren’t liable for the negligent acts or malpractice of a single partner, each partner is accountable for their own negligence.
Hence, we can say that, LLP means a body corporate and a legal entity separate from its partners. It has perpetual succession. While the LLP will be a separate legal entity, liable to the full extent of its assets, the liability of partners would be limited to their agreed contribution.
The average time taken to complete the LLP registration in Mumbai is about 15 – 20 working days, subject to government approvals.
Mumbai generates around 6.16% of the total GDPT. All you need to have is a list of business ideas that can work well in cities like Mumbai and look for the best option for yourself. We at Ebizfiling assure the most satisfactory services in the city.
Ebizfiling is a group of intellectuals. The entire team of Ebizfiling consists of Highly qualified CA, CS, Lawyers and business administrators. Ebizfiling would be a one stop destination for your Limited Liability partnership registration (LLP registration) in Mumbai because we provide a number of services which are required not only for starting a business but also for running the business successfully without any default or mistakes. We provide services like Start up advisory, Secretarial compliance services, One Person Company registration services, PAN / TAN application, DIN registration, GST registration, Trademark registration, GST / Income tax return filing and many more. You may get in touch with our compliance manager on 09643203209 or email info@ebizfiling.com for free consultation and to know more about the services provided by us.
Limited Liability Partnership is a separate legal entity distinguished from its Partners. That means its existence is different from its members. Limited Liability Partnership has its own assets and liabilities. The Members are not personally liable to repay the debts of the LLP. No partner would be liable on account of the independent or unauthorized actions of other partners or their misconduct.
Limited Liability Partnership provides the benefits of limited liability of a Private Limited Company but allows its members the flexibility of organizing their internal structure as a partnership based on a mutually arrived agreement. Owing to flexibility in its structure and operation, the Limited Liability Partnership (LLP) is a suitable vehicle for small enterprises and for investment by venture capital.
The mutual rights and duties between the partners of an LLP and those of the LLP and its partners are governed by an agreement between partners or between the LLP. All the partners are bound by the terms and conditions laid down in the LLP agreement only. However, if there is no agreement, or any condition is not laid down in the LLP agreement, then it would be governed by LLP Act
Compared to Pvt Ltd Company, the annual ROC compliance in Limited Liability Partnership is lesser. LLP is required to file 2 forms with ROC every year namely Form 8 i.e. a statement of accounts and Form 11 i.e. Annual Return. The due date for Form 8 is 30th October and that of for Form 11 is 30th may every year. Also, LLP needs to file its Income tax return every year.
A person can have a multiple relationship and role to play in a LLP ( Limited Liability Partnership ). A person can be a partner, employee or creditor of an Limited Liability Partnership. There may be different contracts with the same person in different capacity. So the person would be liable only up to the capacity of that particular role in the Limited Liability Partnership (LLP).
A firm or private company is allowed to be converted into LLP in accordance with the provisions of the Act. Upon such conversion of a Firm to LLP or Private Limited Company to LLP, all the tangible and intangible properties, assets, interests, rights, privileges, liabilities, obligations relating to the firm or the Private Limited company, shall be transferred to LLP.
LLP registration in Mumbai- process flow
Obtain DSC
Reserve your LLP Name
Filing form FiLLiP
Filing of LLP Agreement
Obtain PAN & TAN
Our Compliance Manager will get in touch with you to obtain your documents along with a simple checklist. You need to fill up the checklist and submit along with the documents. Our expert team will verify documents & proceed with LLP Formation Procedure. All throughout the process, a dedicated Compliance Manager will keep you updated on the progress of LLP Registration.
Once you submit your documents along with Checklist, we will proceed with the application for the Digital Signature. And simultaneously we will prepare the application for the LLP Name reservation through RUN. Once the name is approved, we will prepare the Form FiLLiP where in we will be applying for the DIN of the directors and Incorporation of an LLP. The MCA may take up to 6-7 days to approve the Application.
Once the MCA approves the application for the Incorporation of Limited Liability Partnership, the next step would be to prepare an LLP Agreement. Simultaneously we will prepare the applications for PAN and TAN for an LLP and submit them separately. Once PAN and TAN is received, You may then proceed to open the Bank Account in the name of your Limited Liability Partnership, once PAN is allotted.
A minimum two partners are required to start an LLP. Also, two designated partners are required to register an LLP.
No, it is not necessary to conduct or hold a board meeting in case of LLPs.
LLP is required to file LLP annual returns as follows:
LLP Form 8 (Statement of Account & Solvency) and LLP Form 11 (Annual Return) annually. The ‘Annual Return’ is required to be filed within 60 days of close of the financial year and ‘Statement of Accounts & Solvency’ shall be filed within 30 days from the end of six months of the financial year to which it relates. Every LLP has to maintain uniform financial year ending on 31st March of a year
A Limited Liability Partnership is a legal entity separate from its partners and therefore, offers limited liability to its partners whereby any debts and obligations of the LLP will be borne by the assets of the LLP. In the case of a conventional partnership, the partners are jointly and severally liable for each debt and obligation of the partnership firm.
Yes, any existing Private Limited Company or existing unlisted public company or even a firm can be converted into LLP by complying with the Provisions LLP Act.
No, name of the LLP shall end with either ‘Limited Liability Partnership’ or ‘LLP’. Word ‘limited’ shall be allowed in name only within ‘Limited Liability Partnership’.
Yes, it mandatory to execute and file LLP Agreement. As per provisions of the LLP Act, in the absence of agreement as to any matter, the mutual rights and liabilities shall be as provided under the LLP Act. Therefore, in case any LLP proposes to exclude provisions/requirements of the Act, it would have to enter into an LLP Agreement.
Ebizfiling.com provides LLP incorporation services online across India. You can get your an LLP registered in Ahmedabad, Mumbai, Pune, Bangalore, Chennai, Delhi, Kolkata, Kanpur, Nagpur, Jaipur, or any city in India by us.
Ebizfiling.com provides Limited Liability Partnership Registration all across India. You can obtain LLP Company Registration in Ahmedabad, Mumbai, Pune, Bangalore, Chennai, Delhi, Kolkata, Kanpur, Nagpur, Jaipur or any other cities easily with us.
You can form a company as LLP for Rs. 5999/- all inclusive. Costs include government fees for LLP registration, ROC fees and all other expenses.
Don’t worry!! Our expert will help you to choose a best suitable plan for you. Get in touch with our team to get all your queries resolved. Write to us at info@ebizfiling.com or call us @+91 9643 203 209.
Do you wish to get the benefit of a partnership & a Private Limited company in Mumbai? Register a Limited Liability Partnership in Mumbai. Prices start from INR 5999/- only.
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