A Limited Liability Partnership (LLP) is a business structure that combines the key features of a partnership with the benefit of limited liability. In an LLP, the liability of partners is limited to the assets of the LLP, protecting personal assets from business liabilities.
LLPs are commonly preferred by small and medium-sized enterprises, as well as business professionals such as law firms, accounting firms (CS, CA, and CMA), and wealth management services.
Incorporating an LLP enhances your professional image and registering the trademark of your LLP further safeguards your brand identity, preventing others from using it.
Partners in an LLP have their liability limited to their agreed contribution. Personal assets are safeguarded against the firm’s debts or liabilities.
An LLP is a distinct legal entity, separate from its partners, allowing it to own assets, enter into contracts, and sue or be sued in its name.
LLPs provide operational flexibility without the stringent regulatory requirements often associated with companies, making them easier to manage.
LLPs typically enjoy favorable tax treatment, as profits are taxed at the LLP level, and there is no double taxation on distributions to partners.
Aadhar / Voter ID / Driving licence / Passport
The Address proof of the partners along with the Proof of the registered place of business (Ownership documents/ rent or lease agreement) or any bill in relation to electricity /landlord bill / bank statement.
The photos of the respective partners should submit for the clarification and proof of the concerned person.
The PAN card of the respective Partners and designated authorities of the LLP.
Digital signature is the electronic signature format of the partners for the purpose of e-filing the incorporation of LLP.
No objection certificate by the owner / landlord must be enclosed.
Passport of the partner is required in case of any Non Resident Indian (NRI) / Foreign National partners.
Yes, with the relevant documents of the concerned partner.
Yes, you can incorporate your LLP with zero minimum capital.
No, the personal assets of the partners will not be used for unpaid debts.
Minimum of 2 partners and no maximum limit.
NRI can become a nominee but at least one Nominee shall be Indian residents.
No, they aren’t eligible under LLP.
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