What is LLP?
LLP denote to Limited Liability Partnership, is a form of incorporation in India, governed by Limited Liability Act, 2008.
This is just right constitution for Professionals like Lawyers, Architects, etc. The act was introduced in 2008.
This LLP registration gives the partners the advantage of Limited Liability and also relaxation from complexity as compared with Private Limited.
Minimum requirements for LLP
Min two members required for forming LLP similar like partnership
There is no requirement for any minimum share capital as per the LLP Act
The LLP Should be formed for any of the type of Lawful Trade or business
How LLP Different from Partnership
Advantages of LLP
- Minimum contribution not required: There is no minimum share capital prescribed as per the LLP Act.
- No compulsory audit: The Maintenance and audit of books of accounts is not mandatory if the turnover is below 40 lakhs.
- Acquire Property: As like a Private Limited Company, even LLP can acquire property in its own name.
Disadvantage of LLP
- Investors: As compared with Private limited, the Joint venture and investors the, attraction is low.
- Dissolution: As compared with Partnership, the dissolution process is comparatively difficult.
Documents that are required
Procedure for LLP
Trademark Registration
Easy Steps to Register
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Copyright Registration
Easy Steps to Register
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Company Registration
Easy Steps to Register
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Design Registration
Easy Steps to Register
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Patent Registration
Easy Steps to Register
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MSME Registration
Easy Steps to Register
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