LIMITED LIABILITY PARTNERSHIP
Limited Liability Partnership
Formation of LLP Just Rs. 6999
Inclusion
- Name Approval Application
- Certificate of Incorporation
- LLP Deed Drafting
- LLP Identification Number
- DPIN for 2 Designated Partners
- PAN Registration
- GST Registration
- MSME Registration
- Stamp duty + Government fees Additional
- Digital Signature (Additional Charges)
Information
Limited Liability Partnership (LLP) was presented uniquely in 2008. In Limited Liability Partnership the risk of its accomplices is restricted not normal for organization firm alongside necessity of negligible upkeep. Thus, as for any issues, resources for the sake of LLP are obligated and the individual resources of the chiefs are not thought about. A Limited Liability Partnership utilizes both the benefits of the Company and Partnership in a solitary type of association and here one accomplice isn’t mindful or responsible for accomplice’s unfortunate behavior or carelessness.
According to organization law, a Private Limited organization is a restricted risk organization which can have at least 2 and a limit of 200 individuals. In any case, Private restricted organization has restricted risk and its a different lawful element, additionally simultaneously it enjoys every one of the benefits of association in particular adaptability, the more noteworthy capital mix of different expanded capacities, and so on
Contrast among LLP and Private Limited Company
There isn’t a lot of contrast among LLPs and Private Limited Companies however both are comparable as for consistence and functional necessities. LLP’s is perceived as a different legitimate substance than the accomplices which empowers it to contract or include in any official actions by its own name. This lets the accomplices of LLP to isolate business liabilities from their own resources. Consistence necessity in LLP is more prominent than standard organization firms. However, contrasted with a private restricted organization’s design, it is more straightforward to join and keep up with consistence.
Important forms you need to fill in LLP Registration
X) RUN – LLP Reserve Unique Name-Limited Liability Partnership- This form reserves a name for the LLP
X) FiLLiP – This form is for incorporation of LLP
X) Form 5 – This form is a Notice for change of name
X) Form 17- This form is used for Application and statement for the conversion of a firm into LLP
X) Form 18- This form is used for Application and Statement for conversion of a private company or unlisted public company into LLP
ADVANTAGES
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 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.
LLP’s can appoint two companies as members of the LLP. In an LTD company at least one director must be a real person.
