LIMITED LIABILITY PARTERSHIP

Get your limited Liability Partnership company registered at an affordable and pocket-friendly cost within three weeks with live tracking and 24/7 customer service..

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Characteristics of LLP
  • The treatment of taxation is taken the same as the other Partnership firms for the Limited Liability Partnership.
  • The Limited LiabilityPartnership Companies are controlled by the Registrar of the companies.
  • The Limited Liability Partnership company must have one Indian Partner.
Benefits of Limited Liability Partnership Company
  • The Limited Liability Partnership Company can own a property as it is recognized as isolated in the eyes of law.
  • The LLP is not applicable for the Dividend distribution tax and Minimum alternative tax.
  • The other companies have a complex structure but anyone can manage easily the management structure of the Limited Liability Partnership Company.
  • If the turnover of any LLP company exceeds then the LLP company will require to do an audit.
  • The LLP can be generated by a maximum of two members only and the number should not exceed.
  • The LLP can be initiated with negligible capital ie no minimum capital is required.
Disadvantages of LLP
  • The LLP is less recognized by the people in India as it was introduced in 2009.
  • The people of India have more trust in the partnership companies and other companies compare to the LLP.
  • The Angel Investors do not try to invest in the LLPs.
  • Due to the various tax benefits, the LLP is restricted in various states of India as each state has its own taxation rules.

PROCESS OF LLP REGISTRATION

 

Free Consultation

E-Mail Documents

Make Payment Online

Get Your Certificate

DOCUMENT REQUIRED for LLP

 

Identity Proof Aadhar Card Driving License Elect


Address Proof of Business Electricity Bill Rent A


Passport size Photograph


PAN Card

FEW OTHER LLP FACTS

01

Separate Legal Entity

A LLP is a legal entity and a juristic person established under the Act. Therefore, a LLP has wide legal capacity and can own property and also incur debts. However, the Partners of a LLP have no liability to the creditors of a LLP for the debts of the LLP..

02

Uninterrupted Existence ?

A LLP has 'perpetual succession', that is continued or uninterrupted existence until it is legally dissolved. A LLP being a separate legal person, is unaffected by the death or other departure of any Partner. Hence, a LLP continues to be in existence irrespective of the changes in ownership..

03

Easy Transferability ?

The ownership of a LLP can be easily transferred to another person by inducting them as a Partner of the LLP. LLP is a separate legal entity separate from its Partners, so by changing the Partners, the ownership of the LLP can be changed..

04

Audit NOT Required

A LLP does not require audit if it has less than Rs. 40 lakhs of turnover and less than Rs.25 lakhs of capital contribution. Therefore, LLPs are ideal for startups and small businesses that are just starting their operations and want to have minimal regulatory compliance related formalities..

05

Owning Property ?

A LLP being an artificial judicial person, can acquire, own, enjoy and sell, property in its name. No Partner can make any claim upon the property of the LLP - so long as the LLP is a going concern..

06

What are the annual compliance requirements for a LLP?

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..

FAQ
( Frequently Asked Questions )

The LLP is a Limited Liability Partnership which is authorized by the Limited Liability Partnership Act 2008 has characteristics of both the partner company and the corporation company.
The above page contains all the information about registration in detail or you can consult us online as well as call us on our helpline number.
You can refer to the above webpage and get the whole information about the registration process of company registration.
Yes, It is right. The LLPs also get tax benefits.
Yes, the LLP can be registered at the residential address. You just have to provide all the legal proofs such as electricity bill or a rent agreement.
The partners of the LLP are been decided during the initiation and incorporation of the Limited Liability Partnership Company which can be increased further.
As the companies do not have provision over the conversion so the LLP ie Limited Liability Partnership Company cannot be converted into the Private Limited Company.
The agreement is basically a contract as the other agreements which contain certain rules for the members of the company.
Yes, the salaried employee can become a partner of the LLP company if the agreement of the company has the provisions and rules for an employee to become a partner.
No, the Person does need to available at any location as it is 100% online process and documents can be sent by email to us.
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