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

1

Limited liability

Protects the member’s personal assets from the liabilities of the business. LLP’s are a separate legal entity to the members.

2

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.

3

Legal Entity

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.

4

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

1 ID Proof

Aadhar / Voter ID / Driving licence / Passport

2 Address Proof

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.

3 Photos

The photos of the respective partners should submit for the clarification and proof of the concerned person.

4 PAN

The PAN card of the respective Partners and designated authorities of the LLP.

5 DSC

Digital signature is the electronic signature format of the partners for the purpose of e-filing the incorporation of LLP.

6 NOC (Owner/Landlord)

No objection certificate by the owner / landlord must be enclosed.

7 Passport

Passport of the partner is required in case of any Non Resident Indian (NRI) / Foreign National partners.