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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Online 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 was introduced in the year 2008-2009 and since then it has become popular among entrepreneurs. It is generally favourable for small and medium-sized enterprises, organizations in the service sector, and professional firms.
The LLP Act 2008 regulates all the LLPs in India. Further, there is a mutual LLP agreement that has to be executed amongst the partners, which defines the rights, roles, responsibilities, and liability of every partner.
Therefore, LLP can be called a corporate business vehicle that enables professional expertise and entrepreneurial initiative to combine and operate in a flexible, innovative, and efficient manner, providing benefits of limited liability while allowing its members the flexibility for organizing their internal structure as a partnership.
Features of Online LLP Registration
- 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 mutual rights and duties of partners of an LLP are determined by the LLP Agreement executed between the partners.
- There must be at least 2 (two) designated partners in every LLP, of whom 1 (one) designated partner shall be a permanent resident of India.
- Every LLP has to pay taxes on its profit and in order to avoid double taxation, the partners are not required to pay tax on the profit share that they receive from LLP.
Advantages Of Online LLP Registration
Minimum Requirements For Online LLP Registration
What Is Included In Our Online LLP Registration package?
Process of Online LLP Registration
Documents Required in Online LLP Registration process
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