Understanding the Business Entity - Limited Liability Partnership
Better safe than sorry! With Zolvit, you can exercise caution and due diligence while incorporating a business entity, to ensure best fit.
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Provide the necessary documentation
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LLP incorporation will be completed
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Once you have the below documents ready, submit them digitally to commence registration formalities for your LLP. Zolvit uses the best-in-industry security protocols to ensure your documents are always secure.
PAN card of the partners
Address proof of the partners
Utility bill of the proposed registered office of the LLP
No-objection certificate from the landlord
Copy of rental agreement between the LLP and the landlord
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Did you know?
Limited liability partnerships must by law follow the fiscal year, which runs from April 1 to March 31, unlike companies. Moreover, whether the LLP has started any business or not, annual filings are required.
Even if an LLP did not conduct any business during that particular financial year, the statement of account & solvency must be completed by October 30 of each financial year, and the annual return for LLPs must be filed by May 30 of each year.
How do I login to the MCA portal?
Who is responsible for the registration annual compliance of an LLP?
Which LLP Form must be used to give notice for change of name?
What is the LLP Form - FiLLiP?
If a proposed name is too similar to or identical to one that is currently reserved but hasn't expired, is that a bad thing?
Entrepreneurs must thoroughly comprehend the various existing structures for corporate entities and balance the advantages and disadvantages of each business type before choosing a structure. Moreover, limited liability partnerships (LLPs) and private limited companies are the most frequently used legal entities. Since their introduction in 2008, LLPs have increased in number. LLPs and private limited companies both have advantages and drawbacks, although there are some differences in terms of the law, taxes, compliances, and so on. Let's take a look.
Formation and Registration process
Costs and Maintenance
The three simple step involved in incorporating an LLP involves:
Step 1: Reservation of Name
An application for reservation of the name can be made through with the help of Zolvit experts via the web service, Reserve Unique Name LLP (RUN LLP).
Step 2: Application Through Web Form FiLLiP
Zolvit experts will then file an application for incorporation of LLP through webform FiLLiP along with webform 9 which is an integrated service for incorporation of LLP.
Step 3: Execution of LLP Agreement
Following which, within 30 days of incorporation of the LLP, Zolvit experts will help the partners draft, execute and file the LLP agreement with the RoC in webform 3.