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Limited Liability Partnership Registration (LLP)
The liability of the LLP is limited. The personal assets of the partners will not be used for unpaid debts. If the company is facing a financial crisis, full assets of the LLP will be used to pay back their loans.
Benefits of Limited Liability Partnership
Limited liability protects the member’s personal assets from the liabilities of the business. LLP’s are a separate legal entity to the members.
The LLP is deemed to be a legal person. It can buy, rent, lease, own property, employ staff, enter into contracts, and be held accountable if necessary.
Flexibility. The operation of the partnership and distribution of profits is determined by written agreement between the members. This may allow for greater flexibility in the management of the business.
Corporate ownership. LLP’s can appoint two companies as members of the LLP. In an LTD company at least one director must be a real person.
Documents you will need
Aadhar / Voter ID / Driving licence / Passport
Address proof of the Partners along with the proof of 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.
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