Limited Liability Partnership (LLP) took shape after January 2009, making it a moment accomplishment with new businesses and professional services. Limited Liability Partnership Registration, administered by the Limited Liability Partnership Act, 2008, joins the advantages of an organization with that of a limited liability company. LLP was introduced to provide a form of business that is not difficult to keep up and to assist proprietors by giving them restricted risk.
For a Limited Liability Partnership enrollment in India, Eudyogaadhar is quite possibly the most moderate and resolute specialist organizations.
Benefits Of LLP Company Registration
The most imperative explanation behind registering as LLP is the limited liability. The members of the firm are just subject for a limited quantity of obligation caused by it. This is completely not quite the same as proprietorship and partnership where the individual resources of directors and partners are not secured if the business gets bankrupt.
1)Seperate Legal Entity-
LLP is a different legal entity from the partners. Each partners can sue the other on the off chance that a circumstance arises.
It has a continuous presence that follows unending progression, i.e., the partners may leave, yet the business remains. A term of disintegration must be mutually agreed for the firm to break up.
2) Flexible Agreement- Transferring the ownership for is likewise straightforward. An individual can easily be enlisted in as designated partner and the proprietorship changes to them.
3) Suitable For Small Business- LLPs having a capital sum under 25 lakhs and turnover under 40 lakhs for every year don't need any proper audits. It makes registering as LLP useful for small businesses and startups.
A LLP can possess or get property since it is recognized as a juristic individual. Partners of LLP can't claim the property as theirs.
No Owner /Manager Distinction
A LLP has accomplices, who claim and deal with the business. This is different from a private limited company, whose directors different from shareholders.
Documents Required For LLP Registration
Latest passport size Photographs of all partners.
PAN ( Permanent Account Number) of all Partners (Minimum 2).
Identity Proof of each partner, (Aadhar Card, Passport, Driving License or Voter ID Card).
Address Proof of all partners (Bank Statement or Passbook, electricity bill, telephone bill, Aadhar card or any utility bill).
Copy of Mobile bill, telephone bill, electricity bill or Bank Statement of all Partners with Present address.
Stamp paper for LLP Agreement of State where LLP is to be Incorporated
Documents Must be self attested.
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