Limited Liability Partnership (LLP), introduced only in 2008, has quickly become a popular legal structure for businesses. Its main improvement over the General Partnership is that, as the name indicates, it limits the liabilities of its partners to their contributions to the business and also offers each partner protection from the negligence, misdeeds or incompetence of the other partners.
The LLP is also cheaper to incorporate than a private limited company, requires fewer compliances and can be a smart choice from a tax perspective. However, if you're looking to raise venture capital or attract talent with employee stock options, private limited is the way to go as LLPs cannot easily accommodate it. This is why they are most popular with professional services firms (web designers or architects, for example) that require no equity funding.
One of the directors has to apply for a Digital Signature Certificate (DSC) which is required for filing the company registration documents. You will be required to provide us with a few scanned documents and details; following which, our representatives will fill in the required forms and submit it online.
As soon as the DSC has been applied for, we will get in touch with asking you to pick a name for your company along with a few scanned documents regarding the company and its directors. Once we receive the documents, we will file SPICe i.e. INC-32 along with the Memorandum of Association (MOA) and Articles of Association (AOA). After the process has been completed, you will receive a Certificate of Incorporation.
Every LLP requires a registered Permanent Account Number (PAN) and Tax Account Number (TAN).For this we will upload the application online,but you need to courier the signed hard copies yourself.You will receive the PAN and TAN at your registered office within 21 Working Days.
1-3 Working Days
DSC, is a unique ID check USB token for directors and is the first step towards your Company Incorporation.
1-6 Days
Govt. can be a little fussy about name selection. We help you choose a good name for your company and file the forms accordingly
1-6 Days
After you name is approved, we file your company. Following that your PAN & TAN application. You get all documents at your Company address
| Private Limited Company | Limited Liability Partnership | One Person Company | Partnership
Firm |
Sole Proprietorship | |
|---|---|---|---|---|---|
Recommended For |
Start-ups and growing companies | Professional services firms | Sole promoters | Home businesses | Small traders and manufacturers |
Ease of Accommodating Investment |
Very easy to accommodate | Possible, but unlikely | Possible, but severely unlikely | Almost impossible | Impossible |
Limited Liability Protection |
Yes | Yes | Yes | No | No |
Tax Advantages |
Few benefits | Most efficient | Few benefits | Minimal | Minimal |
Perpetual Existence |
Yes | Yes | Yes | No | No |
Statutory Compliances |
High | Low | High | Minimal | Minimal |
| Buy Now | Know More » | Know More » | Know More » | Know More » |
o, new company registration is a fully online process. As all documents are filed electronically, you would not need to be physically present at all. You would need to send us scanned copies of all the required documents & forms.
If you have all the documents in order, it will take no longer than 15 days. However, this is dependent on the workload of the registrar.
The Registrar of Companies (RoC) across India expect applicant to follow a few naming guidelines. Some of them are subjective, which means that approval can depend on the opinion of the officer handling your application. However, the more closely you follow the rules listed below, the better your chances of approval. First, however, do ensure that your name is available.
Unique Component: In Flipkart Internet Private Limited, Flipkart is the unique component. Now, once taken, the name Flipkart will not be given to any other business within the suffix Internet or even related categories (E-commerce and Online Solutions, for example). But there is some subjectivity, too. Some RoCs may not even approve the name Flipkart Chemicals Private Limited, reasoning that the e-commerce brand Flipkart is too well-known. Similar sounding names would also be rejected (so no Flipkart).
Blacklist: Abbreviations, adjectives and generic words are rejected. So BBC or XYZ would be rejected, as would Good Quality Biscuits. The words bank, exchange and stock exchange, unless approved by RBI or SEBI, would also be rejected.
No Common Trademark: There should not be a registered trademark by the same name on the IP India website. If there is one, the name can only be approved if you are able to get a No-Objection Certificate from its owner authorising you to use it.
Descriptive Component: In Biocon Research Private Limited, the word 'Research' describes the business the company is into. You cannot have 'Research' in your name if you're, say, in the logistics or restaurant business.
All directors must provide identity and address proof, as well as a copy of the PAN Card (for Indian Nationals) and Passport (for foreign nationals). No-objection Certificate must be submitted by the owner of the registered office premises.
The DSC is an instrument issued by certifying authorities (TCS and n-Code are two of them) by which you can sign electronic documents. As all documents needed are electronic, partners need a DSC.
Yes, so long as the annual compliances are met, the private limited company will continue to exist. If you do not comply with the requirements, it will go dormant, until it is struck off the register altogether.
The cost of running a private limited company can be divided into four categories: cost of setting a private limited company, cost of accounting and auditing, cost of compliance and miscellaneous expenses. At the very minimum, you can expect to spend Rs. 40,000 on all of these.
Yes, a private limited company must hire an auditor, no matter what its revenues. In fact, an auditor must be appointed within 30 days of incorporation. Compliance is important with a private limited company, given that penalties for non-compliance can run into lakhs or rupees and even lead to the blacklisting of directors.
These documents contain the rules, vision and mission of your organisation, and define, among other things, the exact business and the roles and responsibilities of shareholders and directors.