What is Limited Liability Partnership?
A corporate business vehicle that enables professional expertise and entrepreneurial initiative to combine and operate in flexible, innovative and efficient manner, providing benefits of limited liability while allowing its members the flexibility for organizing their internal structure as a partnership
It has advantages of both a Partnership Firm and a Private Limited Co. LLP is still gaining ground, as it is relatively newer concept. It is more flexible an entity than a Pvt Ltd Co. and is more suitable for small and medium scale business. It is more flexible to organize the internal structure of LLP. LLP is exempted from Dividend Distribution Tax
Benefits of Limited Liability Co. Registration India
No minimum capital Requirement
Separate Legal Entity
Perpetual Succession
No requirement of compulsory audit
Management and administration as agreed by LLP Agreement
Lower compliance as compared to other corporates
Documents Required for Limited Liability Partnership Registration India
PAN Card & Aadhar Card of all Designated Partners & Partners (Indian Resident) – Mandatory
Passport Size Photo (In Jpeg Format) of all directors & shareholders
NOC from the owner of the registered office address. (If place on Rent)
Proof of Residence of all Designated Partners & Partners (Telephone Bill, Electricity Bill, Mobile Bill, Bank Statement, etc)
Proof of registered office address in India (Electricity Bill, Telephone Bill, Maintenance Receipt (Rent Agreement if place taken on rent)
Minimum Requirements for LLP Registration India
DIN & DSC of all designated partners
Minimum 2 Designated partners
Registered office in India
No minimum contribution required
Drafting of LLP agreement