LLP Registration in Kanjurmarg

Document for the Partners

• PAN Card and Aadhaar Card (Mandatory)
• Passport Size photo
• One of, Mobile Bill, Landline Phone Bill, Latest Bank Statement / Passbook, Electricity Bill of Partner as Address Proof
• One of, Passport, Driving License or Voter’s I’d Card as Identity Proof (PAN Card is not accepted as Identity Proof)

Documents for Registered Office Address proof

• NOC from the owner of the proposed Registered Office premises, where applicable (for example, rented or family-owned premises)
• Not more than two months old Gas, Electricity or Telephone bill depicting the address of the premises in the name of owner.
• If the proposed registered office is owned by a third person (other than Partners), a rent agreement may also be required.

Separate Legal Entity

• An LLP is an independent legal entity — completely separate from its partners. It can own assets, enter contracts, and borrow funds in its own name. Partners are liable only to the extent of their agreed capital contribution.

Perpetual Succession

• An LLP continues to exist regardless of the death, retirement, or departure of any partner. Its existence is not tied to any individual — it continues until legally dissolved under the provisions of law.

Lesser Compliances

• Under the prevailing practice on rule 24(8) of the LLP Rules, an LLP whose turnover does not exceed ₹40 lakh and whose contribution does not exceed ₹25 lakh does not need its accounts audited. This significantly reduces compliance costs, making LLP ideal for small businesses and early-stage startups.

Transferability

• A partner’s right to a share of the LLP’s profits and losses can be transferred, wholly or in part (section 42 of the LLP Act 2008). Since an LLP is a separate legal entity, a partner change does not affect its operations or legal standing.

Ownership of Property

• An LLP can purchase and hold property in its own name as a legal entity. The property belongs to the LLP — no individual partner can claim it as their own.

Limited Liability

• Unlike a Partnership Firm or Proprietorship, partners in an LLP are not personally liable for the LLP’s debts. Each partner’s liability is limited — protecting personal assets in the event of a business dispute or default.

Capacity to sue and be sued

• As an independent legal entity, an LLP can initiate or defend legal proceedings in its own name — just as any individual or company can.

Multiple Relationships

• The same person can hold multiple roles within an LLP — as a partner, employee, or creditor — each governed by a separate and distinct legal relationship.