Kolkata is the capital city of West Bengal. It’s famous for its culture, food, and trade. It’s been a strong hub for commerce and finance since pre-colonial times and has still held onto the same vigour. Starting a business in Kolkata is a great choice. In the last few years, it has seen immense growth in its IT sector, in addition to its usual industries such as leather, garment manufacturing, tea, etc. Going for LLP registration for your new business is a great choice as it requires very little investment from your side to start.
Why Kolkata is perfect for a new business
Kolkata is one of the most densely populated cities in India. It’s also one of the major metropolitan cities of India and the main centre for businesses in all of eastern India. As a financial capital for decades, and a city housing one of the major ports for export, it’s a perfect city for starting a business. It has also seen a lot of foreign direct investment in the last couple of years.
Why LLP registration is the way to go
A Limited liability partnership is like an improved Partnership firm that also has the benefits of a company. Additionally, unlike companies, it is a lot easier to register and start. For any new business registration, especially if it’s a small business or startup, ease of starting is a huge plus. That paired with few compliances and also able to get foreign direct investment, starting an LLP in Kolkata is a great choice!
Here’s our list of benefits for LLP registration in Kolkata:
Benefits of LLP registration in Kolkata
- Limited Liability Partnerships have a separate legal identity like companies. Because of this, the partners are not personally liable for the LLP’s actions.
- Limited Liability Partnerships have very few compliance requirements. Because of this LLP compliance is also very cost-effective.
- LLPs do not have any minimum capital contribution. However, every Limited Liability Partnership partner does have to bring something to the table, be it capital contribution or skills.
- Limited Liability partnerships enjoy easy transferability. Transferability stands for easy transfer from one owner to another.
Basic Requirements for New LLP Registration in Kolkata
- Every limited Liability Partnership registration in Kolkata requires a minimum of 2 partners for incorporation
- All the partners also have to apply for DIN (Director identification number) or DPIN (designated partnership identification number)
- At least one of the Partners needs to be Indian and residing in India.
- Every partner must contribute something to the LLP. Contribution doesn’t have to be monetary, it could just be skills.
Important Documents for New LLP Registration in Kolkata
For Limited Liability Partnership registration you will have to provide the following documents:
- Copies of the to-be partners’ PAN Cards
- Identity proof of copies of the to-be partners (Aadhar Card, Passport, Driving License, etc)
- Copies of the to-be partners’ Address Proof (Electricity bill, water bill or any other utility bill)
- Proof of address for the Registered Office (Utility Bills)
- NOC (No Object Certificate) from the owner of the property if the registered office is on rent
- A copy of the Rental Agreement if the registered office is on rent
- DSC (Digital Signature Certificate) of at least two partners
Procedure for LLP Registration Online
- The first step for limited Liability Partnership registration in Kolkata is to apply for DIN or DPIN. At Least two partners need to apply for DIN. This is because you need a minimum of two directors for LLP registration.
- The second step for online LLP registration Kolkata is to apply for DSC. Once again at least two Partners need to apply for this for LLP registration.
- After this, you have to apply for a name reservation for an LLP. You can do this via the RUN service which is available on the MCA (Ministry of Corporate Affairs) website.
- After all of that, you can apply for Limited Liability Partnership incorporation via FiLLiP web form. This form is also available on the MCA website.
- Finally, you need to draft and submit your Limited Liability Partnership agreement within 30 days of incorporation.
The entire process for online LLP registration in Kolkata typically takes 20 days. However, with LegalWiz.in’s services, you can get a new limited Liability Partnership registration in Kolkata within 15-18 days only! (Depending on MCA approval)
LLP Registration cost in Kolkata
The LLP registration cost in Kolkata consists of many different variables, such as:
- DSC applications for two partners cost about INR 1500-2000
- The DIN applications costs around INR 1000 for two partners
- INR 200 for Name Reservation
- The incorporation cost of the LLP depends on capital contribution:
- INR 500 for up to 1 lakh capital contribution
- INR 2000 for Limited Liability Partnerships with a capital contribution of 1-5 lakhs
- INR 4000 for Limited Liability Partnerships with a capital contribution of 5-10 lakhs
- INR 5000 for Limited Liability Partnerships with a capital contribution of more than 10 lakhs
- Charges for drafting and filing of LLP: Based on the professional services used.
- Stamp Duty on the LLP incorporation form depending on capital contribution:
- INR 1000 is charged for up to 1 lakh capital contribution
- INR 2000-5000 for Limited Liability Partnerships with a capital contribution of 1-5 lakhs
- INR 6000-10000 for Limited Liability Partnerships with a capital contribution of 5-10 lakhs
- INR 10000 for Limited Liability Partnerships with a capital contribution of more than 10 lakhs
All Relevant forms for new LLP Registration
- Eform FiLLiP for new LLP registration
- Form 5 for a name change (if required)
- Form 17 for conversion of an existing partnership firm into an LLP
- Form 18 for conversion of a private limited company into an LLP
In the dynamic realm of entrepreneurship, Kolkata’s allure as an ideal business environment, combined with the simplified LLP registration process, opens a gateway of possibilities for aspiring business owners. Whether seeking to establish a startup or a small enterprise, the combination of Kolkata’s robust ecosystem and LLP registration’s flexibility stands as a strategic pathway towards success.