Limited Liability Partnership
Write A Limited Liability Partnership (LLP) is a business structure in India governed by the Limited Liability Partnership Act, 2008. It combines the flexibility of a partnership with the benefits of limited liability, protecting partners’ assets from business debts. An LLP requires at least two partners, with no upper limit, and at least two designated partners responsible for compliance. It is a separate legal entity, ensuring perpetual succession and the ability to own assets or enter into contracts. Ideal for professionals and small businesses, LLPs offer operational ease, lower compliance costs, and credibility while safeguarding partners from unlimited liability. text here.
Benefits:
A Limited Liability Partnership (LLP) in India offers significant advantages. It provides limited liability, protecting partners’ assets from business debts, unlike traditional partnerships. As a separate legal entity, an LLP ensures perpetual succession, continuing operations despite changes in partners. It requires lower compliance compared to companies, reducing costs and complexity. LLPs offer operational flexibility, allowing partners to manage without rigid structures. They enhance credibility with clients and investors due to legal recognition. No minimum capital is required, making it cost-effective for startups and professionals. Ideal for small businesses, LLPs balance liability protection, ease of management, and regulatory simplicity.
Documents required for Limited Liability Partnership:
To register a Limited Liability Partnership (LLP) in India under the Limited Liability Partnership Act, 2008, the following documents are required:
Identity Proof of Partners: PAN card and Aadhaar card for Indian nationals; passport for foreign nationals (apostilled/notarised if applicable).
Address Proof of Partners: Recent utility bill (electricity, water, or gas), bank statement, or driving license (not older than two months).
Digital Signature Certificate (DSC): For at least two designated partners for e-filing on the MCA portal.
Director Identification Number (DIN): For designated partners, obtained via Form DIR-3 or LLP registration process.
LLP Agreement: Defines roles, profit-sharing, and management structure (filed within 30 days of incorporation).
Proof of Registered Office: Rental agreement, sale deed, or No Objection Certificate (NOC) from the landlord, plus a recent utility bill (not older than two months).
Name Approval: Consent letter if the LLP name includes restricted words or trademarks.
Consent of Designated Partners: Form LLP-1 with consent to act as designated partners.
Register your Limited Liability Partnership (LLP) @Just 2,499/- (Exclusive Govt. Fee)