LLP Incorporation
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The MCA regulates all matters through a framework of rules and regulations and online filing requirements. It provides for and casts an obligation on LLPs to file various forms, returns and documents under various provisions with the Registrar of Companies (ROC) in an electronic mode within the prescribed time along with the prescribed fees.
The MCA has introduced the MCA21 Mission Mode Project (MCA21), which is the e-governance initiative from the Ministry of Corporate Affairs, Government of India. It is one of the 27 Mission Mode Projects of the National e-Governance Plan and is designed to fully automate all processes related to proactive enforcement and compliance of legal requirements under the Act. This means that all types of filing, incorporation, etc., is to be undertaken via the online mode only.
Overview
If you are a fast-growing company or a start-up, incorporating your company as a Limited Liability Partnership might be a good idea. Our technical expertise and legal resources can help you incorporate a LLP in India.
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FAQ
Frequently asked questions.
The form used for incorporation is FiLLiP(Form for incorporation of Limited Liability Partnership) which shall be filed with the Registrar who has jurisdiction over the state in which the registered office of the LLP is situated. The form will be an integrated form. Fees as per Annexure 'A' shall be paid.
Limited liability partnerships (LLPs) allow for a partnership structure where each partner's liabilities are limited to the amount they put into the business. ... Limited liability means that if the partnership fails, then creditors cannot go after a partner's personal assets or income.
LLPs combine the operational advantages of a Company as well as the flexibility of Partnership Firms. The fee for incorporation of an LLP firm is very nominal as compared to that for Private Limited Company. The compliance requirements for an LLP are significantly lower than those for a private limited company.
Limited liability partnerships are owned by its 'members' who are referred to as 'partners'. LLPs don't have shareholders or directors, nor do they have shares. You need at least two members to set up an LLP.
