Online LLP Registration
Limited Liability Partnership (LLP) is gradually becoming a popular form of business organization among entrepreneurs and professionals such as doctors, architects, engineers, lawyers etc. as it provides the benefits of both partnership firm and company into a single form of organization.
LLP can be formed with a minimum of 2 partners, where the liability of partners shall be limited to the amount of contribution.
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What is LLP Registration?
LLP or Limited Liability Partnership is a type of business organization that gives benefits of limited liability of a company and the flexibility of a partnership. The concept of LLP is popular among entrepreneurs since its introduction in the year 2008-09. It is generally favorable for small and medium-sized enterprises, organizations in the service sector, and professional firms.
The LLP Act 2008 regulates all the LLPs in India. Furthermore, the partners must execute a mutual LLP agreement that defines the rights, roles, responsibilities, and liability of each partner.
Therefore, we can call LLP a corporate business vehicle that enables the combination and operation of professional expertise and entrepreneurial initiative in a flexible, innovative, and efficient manner, providing the benefits of limited liability while allowing its members the flexibility to organize their internal structure as a partnership.
Features of Limited Liability Partnership
- LLP is a body corporate and a legal entity distinct from its partners.
- Every Limited Liability Partnership shall use the words “Limited Liability Partnership” or “LLP” as the last words of its name.
- The LLP Agreement, executed between the partners, determines the mutual rights and duties of the partners.
- An LLP shall have minimum 2 designated partners. Further, atleast 1 designated partner shall be a permanent resident of India.
- Every LLP has to pay taxes on its profit. However, in order to avoid double taxation, the partners are not required to pay tax on the profit share that they receive from LLP.
Benefits Of LLP Registration Online
Minimum LLP Registration requirements
What does Our LLP Incorporation package includes?
LLP Registration Procedure in India
Documents required for LLP Registration
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