Limited Liability Partnership
Limited Liability Partnership (LLP)
Limited Liability Partnership
As a name suggest, Limited Liability Partnership (LLP) is a legal form of business Company offering limited liability to its partners. It was introduced in INDIA by the Limited liability Partnership Act, 2008.
A Limited Liability Partnership (LLP) is a hybrid business entity of both a Corporation and a Sole Proprietorship. The biggest advantages of LLP is often more flexible than a corporation. LLP is better than Sol. Proprietorship and it is simplest business firms to doing business in India.
Inclusive In Our Service:-
- Two DIN
- Two DSC (Class-2)
- Name Search & Approval
- ROC Registration Fees
- PAN & TAN
- Drafting of LLP Agreement
- LLP Identification Number
- MSME Certificate (Optional)
Documents Required For Limited Liability Partnership (All Soft Copy):-
- One Passport size photograph of All Directors
- Self-Attested PAN card copy of All Directors
- Self- Attested Proof of Identity (Like-Voter ID, Passport, Driving License, Aadhar Card) of All Directors
- Business address proof (Any one of Electricity Bill, Telephone Bill, Property, Gas Bill, Tax Bill)
- If Rented Business (Rent Agreement Copy) or if own (sell deed)
- Company Name (1 to 6 Names)
- Company Service or object or product Name
Procedure for Incorporation of Limited Liability Partnership:-
After the payment received from you, we will do the following procedure:
- Apply for DSC (Digital Signature Certificate) All Directors. (1- Day)
- Apply for Director Identification Number (DIN) All Directors. (1- Day)
- Apply for the Company Name (1- Day)
- Document preparation by us for the Incorporation and send you for Sign. (1- Day)
- Received Document from you and Filing of e-forms with ROC (Registrar of Companies) and Payment of ROC Fees & Stamp Duty. (1- Day)
- Verification of documents / forms by ROC and Issue of Certificate of Incorporation by ROC (2- day)
- Sending you company Certificate Kit
Advantages of Limited Liability Partnership (LLP):-
- The owners of the LLP are protected from some or all liability for acts and debts of LLP.
- The biggest advantage of LLP is that there is no limit of partners/members that can be involved with the business. So, minimum members are allowed in LLC 2 to 200.
- The cost of registering LLP is low as compared to other types of business in India.
- In LLP, the Dividend Distribution Tax (DDT) is not payable.
- LLP is easy to startup; also it’s also an easier way to fetch up, as compared to other entity.
1. What is Limited Liability Partnership (LLP) ?
A Limited Liability Partnership (LLP) is a hybrid business entity of both a Corporation and a Sole Proprietorship.
2. What is the criteria to become a member in LLP ?
Any individual/entities can become the member in LLP, even foreigner/ NRI’s are also applicable to become members.
3. What is the minimum partners are required in Limited Liability Partnership ?
The minimum partners are required in LLP is 2 to 200.
4. Is Foreign investment permitted in LLP ?
YES, only after government approval in those sector where 100% FDI is permitted.
5. What is the minimum contribution regarding LLP ?
There is no minimum requirement but advisable to have some contribution toward capital.
6. What is the liability over partnership in LLP ?
Debts/share is limited over the LLP members.The personal assets of directors are safe if company goes bankrupts.