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LLP Registration
Limited Liability Partnership
What is (Limited Liability Partnership) LLP Registration?
Established in India under the "Limited Liability Partnership Act, 2008," LLP shields partners from personal liability for each other's actions. This business structure is favored by specialists, micro, and small enterprises, especially those owned or closely managed by families.
Limited Liability Partnership (LLP) offers the benefit of limited liability to partners while requiring prudent management. Unlike sole proprietorships, partners in a private limited company bear limited responsibility to creditors. In the event of business failure, creditors can only liquidate the company's assets, safeguarding directors' personal assets.
Documents Required For LLP Registration
- Copy of PAN Card of partners
- Passport size photograph of partners
- Copy of Aadhaar Card/ Voter identity card/ Driver’s license as address proof
- Electricity/ Water bill/ Telphone bill/ Latest bank statement as proof of Registered Office (Business Place)
- Copy of Sale Deed/Property Deed (If owned property)
- Landlord NOC (Format will be provided)
- Digital Signature Certificate
- Passport (in case of Foreign Nationals/ NRIs)
- Copy of Notarised Rental Agreement
- Copy of NOC from the property owner
Why choose LLP Registration?
- It has a different legal entity, not at all like partnership firms.
- The liability and duty of each partner are limited to the commitment made by the partner.
- The expenditure on establishing an LLP is low.
- An audit is not required as LLPs are medium and independent companies.
- Less agreement and guidelines in the formation of LLP.
- No terms for least capital commitment.
- The responsibility of an LLP can be effortlessly moved to someone else. All you require is to select them as a Designated Partner of the LLP.
- An LLP has a ‘never-ending progression’ that is broadened endurance until it is brought to an end by a shared agreement between the partners.
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