LLP | Company Registration for

Introduction

In order to start a business for , an LLP or Company both are considered as the most favourable options. However, both the structures have their own uniqueness, advantages and disadvantages. But before choosing any business structure it is better to understand their differences, documents requirements and registration process. In this article, you’ll get complete details related to LLP & Company Registration including their documents needed, eligibility criteria and registration procedure with Bizfoc.

What is LLP for ?

A limited Liability Partnership is a separate legal entity which can enter into agreement with a third party under its own name. LLP has perpetual succession which means it continues to run in the event of the death of a partner. The partners have limited liability which means their liability is only limited capital contributed by them. In case of any debt or liability of an LLP, partners of LLP don’t need to pay from their personal assets. In order to start an LLP for , one needs to understand its documents requirements and procedure.

What is a Company for ?

A Private Limited Company is registered under company act 2013 and the objective of the company is defined under memorandum of association. A private limited company is a business company established by private stakeholders. In India, a private limited company is the most popular type of business structure due to its various advantages, including limited liability protection, ease of formation and maintenance, and separate legal entity status. One can open a private limited company for as well. But it is better to understand the major difference between an LLP and a company before starting your business.

LLP vs Company Registration

Following are some major differences between LLP & Company. However, there are multiple Difference between Limited Liability Partnership and Private Limited Company:

Documents Required for LLP & Company Registration

The documents for LLP and Company Registration for are different for each.

For LLP Registration:

• Certificate of LLP incorporation
• PAN and TAN number of the LLP
• Digital signatures of all Partners in physical tokens
• DIN number of all Partners
• Notarised LLP agreement
• Complete set of various forms and challans filed with MCA

For Company Registration:

Some documents are needed from directors/shareholders to register a company and some documents for office address proof are required. These documents are as follow:

• Passport Size Photograph of director/shareholder is required
• Any Identity card such as Aadhar Card, PAN Card is required from director or shareholder.
• Residential Proof of Director/shareholder is required. It can be an electricity bill, telephone bill or any utility bill.
• Contact Information of director/shareholder is required such as email Id, mobile no. , etc.
• Any utility bill of the office is required for address proof of the company.
• Proof of ownership or rent agreement and NOC from the owner of the property in case of rented property.

LLP & Company Registration Procedure

LLP & Company Registration are two different procedures and one needs to understand which structure is more suitable for them to start their business. Following is the procedure for both the structure:

LLP Registration for :

• Step 01: Name Reservation
• Step 02: Obtaining DSC (Digital Signature Certificate)
• Step 03: Filing of LLP’ Incorporation form
• Step 04: Submit the LLP Agreement

Company Registration for :

• Step 01: Obtaining DSC (Digital Signature Certificate)
• Step 02: Obtaining DIN (Director Identification Number)
• Step 03: Name Reservation
• Step 04: Prepare MoA & AoA
• Step 05: Filing of Company’ Incorporation Form

Eligibility for LLP & Company Registration

Following is the eligibility criteria for LLP and Company Registration for :

For LLP Registration:

• Two partners are minimum
• Out of all partners, two minimum designated partners are required. A corporate body cannot be a designated partner.
• One partner must be a resident of the country where LLP is to be incorporated
• LLP must have a registered office address
• LLP must have business purposes
• There is no minimum and maximum contribution defined in law. However, LLP should be incorporated with some contribution.

For Company Registration:

• Minimum 2 members/shareholders are required to start a private limited company. There can be a maximum of 200 members.
• To start a company minimum 2 directors are required and one of them must be a resident of India i.e, stayed in India for at least 182 days in previous calendar year.
• To start a company for , the name should be unique and not similar to any existing company or trademark.
• Companies must include Private Limited or Pvt Ltd at the end of the name.
• Companies must have a registered office address in India so that notices or official communications can be sent.
• There is no minimum paid-up capital required. However, the authorized capital should be at least ₹1 lakh.

Why Bizfoc?

Bizfoc provides seamless solutions to its clients in order to register an LLP or a company. We provide cost effective prices to register a company or an LLP for . Our team consists of qualified Chartered Accountants, Lawyers, Company Secretaries who give consultation in business incorporation services. We simplify the process, advise on business requirements, and support business for their growth.

Conclusion

In order to start your business for you need to choose the business structure first either an LLP or a Company. Once you decide your business structure you need to gather required documents and follow the steps to register your LLP or Company for . Both the structures have their unique features, advantages and disadvantages. It totally depends on you which structure you choose for your business.

Frequently Asked Questions (FAQs)