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LLP was launched in India by way of the Limited Liability Partnership Act, 2008. The main edge of a Limited Liability Partnership is one partner is not liable for another partner’s misconduct or negligence. LLP is favored by Professionals, Micro and Small businesses that are family-owned or closely-held.
Limited Liability partnership offers the benefit of limited liability to its owners and at the same time needs minimal maintenance. The owners of a private limited company have limited liability to creditors. In case of default, banks/creditors can only sell the company’s assets and not the personal assets of directors.
An LLP also gives limited liability protection for the owners from the debts of the LLP. Accordingly, all partners in an LLP enjoy a kind of limited liability protection for every individual’s protection within the partnership, related to that of the shareholders of a private limited company.
You are required to fill your details in our simple questionnaire and submit documents.
For further procedures, details provided by you will be verified by our experts.
We will create all the required documents and file them with appropriate authority.
Once your proprietorship is incorporated, we will intimate you about the same.
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Limited Liability Partnership (LLP)
Limited Liability Partnership (LLP)
Limited Liability Partnership (LLP)
At least two partners are required for LLP registration. The maximum partners can be 200. If you are the sole owner, you can register as a One Person Company.
Designated Partner Identification Number is a unique identification number assigned to all existing and proposed Designated Partner of a LLP. It is mandatory for all present or proposed Designated Partner to have a Designated Partner Identification Number. Designated Partner Identification Number never expires and a person can have only one Designated Partner Identification Number.
LLPs are required to file an annual filing with the Registrar each year. However, if the LLP has a turnover of less than Rs.40 lakhs and/or has a capital contribution of less than Rs.25 lakhs, the financial statements do not have to be audited.
No, you will not have to be present at our office or appear at any office for the incorporation of a Limited Liability Partnership. All the documents can be scanned and sent through email to our office. Some documents will also have to be couriered to our office.
Yes, but only after he has been assigned with DIN/DPIN. However, at least one designated partner in LLP must be a Resident of India. In fact, the foreign director can also be a majority shareholder in the company
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