The Limited Liability Partnership (LLP) is a registered company under the LLP Act, 2008.
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The Limited Liability Partnership (LLP) is a registered company under the LLP Act, 2008. As compared to unregistered partnership firms, registration offers many advantages. LLP Act 2008 is the parent statute for LLPs. LLP is useful when two parties decide to start a business on a profit-sharing basis. LLPs allow individual partners to be restricted from joint liability of partners in a partnership firm and are quite popular as a form of business entity in the West.
As far as compliance is concerned, LLP requirements are similar to Private Limited Companies. LLPs have a separate legal entity. The LLP can sign contracts and sue parties in its name. It means that partners are not personally liable for the debts if the company. As compared to unregistered partnership firms, some additional compliances are required, But the legal formalities are less as compared to a private limited company, the legal requirements are less, and the LLP form of business is easier to incorporate than a company.Companies registered as an LLP need to add “LLP” as a suffix to the company name.
DOCUMENTS REQUIRED FOR LLP REGISTRATION IN INDIA
PAN card of all the designated partners
Address proof such as the latest mobile or telephone bill or bank statement
Identity proof of all the partners such as Passport or Driving license or Voter’s ID card at the time of incorporation
Passport-sized photograph of every director and shareholder
In the case, any of the partners is an NRI or foreign national, then he/ she should present a notarized passport
For the proposed registered address (Residential /commercial)
- Latest address proof of the registered office such as the electricity bill or landline bill or property tax receipt.
- No objection letter from the owner.
Company name search with ROC
Reservation of company name application
PAN & TAN of company
Certificate of Incorporation
DSC and DIN of two partner
Post incorporation advisory services fromCA/CS
ADVANTAGES OF LIMITED LIABILITY PARTNERSHIP
1. Application for name reservation
2. Application for DSC
3. Application for DIN
4. Incorporation application
5. Filing of Limited Liability Partnership Agreement
6. Open a bank account