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Outstanding legal advice! Wazzeer’s team of experts proved to be true professionals, guiding me flawlessly through the intricate incorporation process. From the initial consultation to the final paperwork, they displayed remarkable expertise and dedication. Their personalized approach and attention to detail instilled confidence in me, making the entire experience stress-free.
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We have been very pleased with the services being offered by Wazzeer.com. Best part is that you have a dedicated account manager who takes care of all your legal, accounting, compliance, audit related services, so instead of dealing with 4-5 professionals you deal with just one individual.
Why should you opt for a LLP?
- Limited Liability
- Less Compliance than a Private Limited Company
- Misconduct by one partner does not affect other partners
- Not required to maintain registers
Requirements to start a LLP
- At least 2 designated partners
- At least 1 partner must be a resident of India.
- No mandatory minimum contribution
Application for name approval
Drafting of LLP documents and agreement
Application for Incorporation and Approval
For each director and shareholder:
- PAN card* (Mandatory for Indians & others if held)
- Passport* (for NRI, Foreigners, and Indians if held)
- Address proof ( any 1 of ) ( Not more than 2 months old)
- Bank Statement
- Phone Bill
- Mobile Bill
- Electricity Bill
(Note – For NRI & Foreigners Documents signed outside India must be notarised & apostilled)
For Registered Address:
- NOC from Owner*
- Rent Agreement*
- Utility Bill*
- Certificate of incorporation
- Filled e-form and challan
- LLP agreement
Why choose Wazzeer?
One platform for all your requirements
Incorporation is just the first step. Wazzeer supports you throughout your journey as an entrepreneur. Log in to get things done efficiently. A dedicated Account Manager offers the required human touch and acts as an advisor to you.
Our professionals have at least 5 years of experience and have incorporated thousands of companies among them. The rich experience ensures that the process is smooth and right in the first go.
Over the last few years, doing over 500 incorporations, we have defined every step of the process. A virtual process is in place enabling us to deliver hassle free experience for you.
You pay what you see in the proposal. No surprises or hidden charges.
Frequently Asked Questions
How many partners can an LLP have?
According to the LLP Act, a minimum of two partners are required to start an LLP. At least one of them must be a resident in India.
There is no limit on the maximum number of partners.
What is the minimum capital requirement to start an LLP?
There is no mandatory minimum contribution to start the LLP. You can choose any amount you want to start with.
Later in the future, if partners want to withdraw capital from the firm, how can that be done?
Partners can withdraw capital subject to the LLP agreement. It is also possible for a partner to reduce contribution liability after giving notice to creditors
Can a partner resign or be removed from LLP?
A partner continues as a partner in the LLP even after transferring all his rights in the LLP unless the LLP agreement provides otherwise. A partner can even resign from the LLP. It is possible to remove a partner from the LLP subject to the LLP agreement.
Can I register my office address as my residential address?
Yes, you can show your own residential or rented home address as the registered office address of the Company. Once your startup is set up, stable and ready to move on to a nice corporate space you can change the registered office address by informing to the ROC office. If you take place for rent, and the bill’s are on the Owner’s name then ‘No Objection Certificate’ is required.
Should the partners be physically present during this process?
No, the complete process can be carried online. Wazzeer has developed a Stand Operating Processes that delivers Business Registration 100% online in a seamless way.
What is an LLP deed?
An LLP deed is signed by partners of LLP regarding the relationship between the individual partners in the LLP. This document determines the mutual rights and duties of the partners and their rights and duties in relation to that limited liability partnership. Partners are to file an agreement by above declaration within 30 days of Incorporation.
What are the audit requirement for an LLP?
Accounts to be audited by a Chartered Accountant only if the turnover exceeds Rs.40 lakh or contribution exceeds Rs.25 lakh.
What are the tax rates for an LLP and is Dividend Distribution tax applicable?
‘Firm’ tax is applicable to LLP @ 30.90% on the net profit of the company. There is no DDT. Profit after tax will be credited to partners’ account and it will not be taxable in the hands of partners again.
Who can be a partner in an LLP?
- Any individual – resident in India, NRI, Foreigner can become a partner. However, it is mandatory that at least one of the partners is a resident Indian.
- Any body corporate like Private limited company/ OPC/ LLP/ Section 8 company or even foreign body corporates can be Partners of an LLP
- The term ‘resident in India’ means a person (Indian or not) who has stayed in India for a period of not less than one hundred and eighty-two days during the immediately preceding one financial year.