LLP Company Registration in Delhi
A limited liability partnership, or LLP, combines the operational freedom of a partnership firm with the benefits of a private limited corporation. Should you be uncertain about the best entity for your kind of business plan, this article will help. This is a comprehensive guide to Delhi LLP registration. You can read the full article for LLP Company Registration in Delhi and check out GST Registration Company in Delhi.
Two designated partners, who must be natural persons, and at least one must reside in India, should be present among the partners. The LLP agreement specifies the responsibilities and rights of authorized partners. They are responsible for ensuring that all clauses in the LLP agreement and the LLP Act, 2008, are followed.
Process for LLP Company Registration in Delhi
- The first stage in creating an LLP in Delhi is to get digital signatures from each prospective partner.
- The next step involves submitting a request to reserve the LLP's name to the MCA.
- We prepare the documents for incorporation and forward them to the partners for signature. The documents must be uploaded as scanned copies on the India Filings website.
- After that, our incorporation submits the signed copy of the paperwork to the MCA for approval.
- Our professionals will draft an LLP deed, which needs to be signed by each partner, as the final stage in the Delhi LLP Company registration in Delhi.
- Within 30 days of incorporation, our professionals verify and post the LLP deed to the MCA portal.
What benefits come with registering an LLP in Delhi?
Separate legal entity
Like a company, an LLP is a separate legal entity. The LLP and its partners are not the same. An LLP may file and receive lawsuits under its name. Contracts are signed in the LLP's name, which helps the company win over the confidence of other parties and instils trust in its suppliers and consumers.
Limited liability of the partners
The LLP's partners' liability is restricted. The partners' liability is capped at their respective contributions. This implies that they are not personally responsible for any losses incurred by the company and are only obligated to pay the amount of their contributions.
Low cost and less compliance
Compared to the price of establishing a public or private limited business, the formation of an LLP is less expensive. There are also a few compliances that the LLP must adhere to. The Annual Return and Statement of Accounts and Solvency are the only two statements the LLP must file each year.
There is no minimum capital contribution requirement
A minimum capital requirement is unnecessary to incorporate an LLP Company Registration in Delhi. A minimum paid-up capital is not necessary to proceed with incorporation. Any quantity of funds supplied by the partners can form it.
Penalty on non-compliance
There is nothing that LLP needs to comply with. However, the LLP will be subject to a significant fine if these compliances are not finished by the deadline. The LLP must submit returns to the Ministry of Corporate Affairs (MCA) every year, even if it remains idle.
Winding up and dissolution of LLP
An LLP must have a minimum of two partners. The LLP will be dissolved if the required number of partners is less than two for six months. If the LLP cannot pay its debt, it could be dissolved.
Disadvantages Of LLP Company
- Penalty on non-compliance
- Winding up and dissolution of LLP
- Difficulty in raising capital
Checklist for LLP Company Registration in Delhi
- Minimum of two partners.
- DSC for all designated partners.
- DPIN for all designated partners.
- The LLP's name is unique and does not resemble any existing trademark or LLP.
- Capital contribution by the partners of the LLP.
- LLP Agreement between the partners.
- Proof of the registered office of the LLP.
FAQ's
How many people must be present in Delhi to incorporate an LLP?
An LLP may be registered in Delhi with at least two partners and a maximum of persons.
In an LLP, who can be a partner?
In Delhi, anyone above eighteen is eligible to create an LLP. Foreign nationals can create an LLP in Mumbai or any other location in India under the LLP Act of 2018.
What is the minimum capital needed for LLP company registration in Delhi?
In Delhi, no minimum capital is required to form an LLP; any amount of money can be used to launch one.
