Companies Under Section 8
Documents Required
- Pan Card
- Passport (Foreign Nationals Only)
- Voters Identity Card
- Ration Card
- Driving License
- Electricity Bill
- Telephone Bill
- Aadhar Card
- Bank Statement
- Passport Size Photo
- Recent Utility Bill
- Business Place
Advantages of LLP
Separate Legal Entity
An LLP can sue and be sued in its own name, such that it is a The contracts are signed in the name of the LLP, which helps to gain the trust of various stakeholders and gives the customers and suppliers a sense of confidence in the business.
Limited Liability Of The Partners
This means that they are liable to pay only the amount of contributions made by them and are not personally liable for any loss in the business.
Low Cost And Less Compliance
The cost of forming an LLP is low compared to the cost of incorporating a public or private limited company. The compliances to be followed by the LLP is also low. The LLP needs to file only two statements annually, i.e. Annual Return and a Statement of Accounts and Solvency.
Disadvantages of Sole Proprietorship
Obtaining Digital Signature Certificate (DSC) And Director Identification Number (DIN):
Our team shall apply for the digital signature of the designated partners of the proposed LLP. It is to be noted that the cost of obtaining DSC varies depending upon the number of partners. Our team shall obtain for the DIN through Form- 3 of all the designated partners or those intending to be designated partner of the proposed LLP.
Name Approval
Our team shall conduct LLP-RUN (Limited Liability Partnership-Reserve Unique Name) proposed LLP in the MCA Portal which shall be processed by the Central Registration Centre under Non-STP.
Incorporation Of LLP
Our team shall file application with the Registrar who has jurisdiction over the state in which the registered office of the LLP is situated.
File Limited Liability Partnership (LLP) Agreement
Our team of Advocates shall draft the LLP agreement and file in Form 3 online on MCA Portal.
Note
The LLP Agreement has to be printed on Stamp Paper. The value of Stamp Paper is different for every state.