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Limited Liability Partnership

Your First STep towards Success Starts Here

Unlock the potential of your business through our Limited Liability Partnership (LLP) registration service. We simplify the intricacies of the registration process, guaranteeing a seamless and efficient journey towards establishing your LLP.

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Limited Liability Partnership

LLP is a popular type of partnership where limited liability Partners enjoy protection of personal assets from debts, liabilities & damages. An LLP is a corporate body and legal entity separate from its partners. It has perpetual succession in every state and is registered under the LLP Act, 2008

LLP is a popular type of partnership where limited liability Partners enjoy protection of personal assets from debts, liabilities & damages. An LLP is a corporate body and legal entity separate from its partners. It has perpetual succession in every state and is registered under the LLP Act, 2008

An LLP (Limited Liability Partnership) is a corporate business structure that offers its members the benefit of limited liability, just like a company. It allows partners to manage internal affairs based on mutually agreed-upon terms, similar to a partnership firm. Partners have reduced liabilities for any future debts incurred in the course of running the business.

An LLP combines features of both a corporate structure and a partnership firm, making it a hybrid entity that provides the best of both worlds. Partners are required to contribute to the LLP as specified in the LLP Agreement, and their contributions can take various forms, such as tangible or intangible assets, movable or immovable property, money, and cash.

In an LLP, the Company itself is liable for any losses or debts incurred in business operations, which means individual members of the LLP are not personally responsible for such financial obligations.

How GHR adapts its services to meet the unique needs of businesses, from startups to professional service providers.

The new process for reserving a unique name for an LLP involves using the web form ‘RUN-LLP’ (Reserve Unique Name – Limited Liability Partnership)This simplified form replaces the old LLP Form 1 and requires basic details and the significance of the desired nameApplicants can provide up to 2 names in order of preference, ensuring compliance with applicable provisions for name reservationIf none of the names provided are approved, there is an opportunity to apply for two more namesThe government fees for the RUN form follow the Register Office Fees RulesDSC (Digital Signature Certificate) and DIN (Director Identification Number) are not required for filing the RUN form, but having an MCA portal account is mandatoryOnce the name is allotted for the LLP, it is reserved for 90 days from the date of approval.

The difference between the fees payable on the increased slab of contribution and the fees paid on the preceding slab of contribution shall be paid through Form 3.For filing, registering or recording any document, form, statement, notice, Statement of Accounts and Solvency, annual return, and an application along with the Statement for conversion of a firm or a private company or an unlisted public company into LLP by this Act or by these rules required or authorized to be filed, registered, or recorded:

Perpetual Succession

Unlike a general partnership firm, a limited liability partnership has the advantage of perpetual succession. This means that even if one or more partners retire, become insolvent, suffer from mental incapacity, or pass away.

Separate Legal Entity

Similar to corporations or companies, an LLP is recognised as a separate legal entity. It holds full liability for its assets and obligations. Moreover, the individual partners' liabilities are limited to their contributions to the LLP.

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Is GST Mandatory for LLPs?

Yes, irrespective of the products or services provided, Limited Liability Partnerships (LLPs) are obligated to pay Goods and Services Tax (GST). LLPs must undergo GST registration and regularly file GST returns.

What is an LLP Agreement?

The LLP agreement is a legal document outlining the rights, responsibilities, and contributions of partners within a Limited Liability Partnership..

What is the Minimum Number of Partners Required for LLP Formation?

To establish an LLP, a minimum of two partners is required. There is no upper limit on the maximum number of partners.