Apart from the incorporation of the Companies, we also extend our services towards the incorporation/registration of Limited Liability Partnerships (LLP), which is another emerging form of doing business in a structured manner. The concept of the Limited Liability Partnership (LLP) was introduced in India in the Year 2008. The Limited liability Partnership Act, 2008 regulates the LLP in India. In the recent times, it has become a preferred form of organization among entrepreneurs as it incorporates the benefits of both partnership firm and Company into a single form of organization. In layman language, one can ripe the benefits of both i.e., a Company as well as a partnership firm by forming a LLP.
Since LLP contains elements of both ‘a corporate structure’ as well as ‘a partnership firm structure’ LLP is called a hybrid between a company and a partnership. As compared to Company it is more flexible and has less Compliance requirements.
The mutual rights and duties of the partners within a LLP are governed by an agreement referred as “LLP Agreement” executed between the partners or between the partners and the LLP as the case may be. The LLP, however, is not relieved of the liability for its other obligations as a separate entity. If you want to start your business with a Limited Liability Partnership, then you must get it registered under the Limited liability Partnership Act, 2008 as a LLP.
Constitution
Minimum two partners are required to incorporate an LLP. It is hereby clarified that both the Individuals and bodies corporate can become the partners in a LLP. However, there is no upper limit on the maximum number of partners of an LLP.
Along with the partners, there should be a minimum of two designated partners who shall be individuals, and at least one of them should be resident in India. The rights and duties of designated partners are governed by the LLP agreement. They are directly responsible for the compliance of all the provisions of the LLP Act, 2008 and provisions specified in the LLP agreement.
The LLP Act, 2008 also allows Foreign Nationals including Foreign Companies & LLPs to incorporate a LLP in India provided at least one designated partner is resident of India. However, the LLP/Partners would have to comply with all relevant Foreign Exchange Laws/ Rules/ Regulations/ Guidelines.
Due to the Major Amendments introduced in LLP (Second Amendment) Rules, 2022, the LLP Incorporation Process, have now become web-based. Just like the SPICe Plus Forms are for the Company formation, now an LLP Incorporation Process shall be done through web-based forms only.
Incorporation these days done includes the filing of the following forms along with the execution of below-mentioned documents
- FiLLip : Form for Incorporation of LLP
- RUN-LLP:
- Form 3: LLP Agreement
Through incorporation, JKG Corporate Consultants LLP will provide the below mentioned services:-
- DPIN Application
- Digital Signature Certificate (DSC) procurement
- Approval and reservation of name
- Drafting of LLP Agreement
- PAN and TAN along with LLP Incorporation
Along with the incorporation services, we also provide the services related to :
- Conversion of Company into LLP
- Change in the Designated Partners/Partners of LLP
- Filing of LLP Form 8 (Statement of Account & Solvency) and LLP Form 11 (Annual Return) annually.
- All other services related to LLP.
