Limited Liability Partnership

The Limited Liability Partnership is a popular choice among entrepreneurs since it combines the advantages of both a partnership firm and a corporation into a single entity. The merits of a partnership along with limited liability business are combined in a Limited Liability Partnership. In India, it began in January 2009, and it quickly became a hit with entrepreneurs and professional services. The purpose of the Limited Liability Partnership was to create a simple corporate structure that would benefit owners by limiting their liability.

At least, one of the two minimum designated partners must be residing in India. The LLP agreement governs the rights and responsibilities of chosen partners. They are directly accountable for ensuring that the provisions of the LLP Act, 2008 are followed. This type of entity is commonly used by law firms, accounting firms, private equity, venture capitalists, architects, and real ESIate firms. This corporate structure has several advantages, including liability limits and simplicity of compliance.

What is Limited Liability Partnership?

Limited Liability Partnership Firm is a corporate form of partnership firm. Limited Liability Partnership is also known as LLP. Limited Liability Partnership can be formed by 2 or more partners.

In an LLP, one partner is not responsible or liable for the misbehavior or carelessness of another partner.

An LLP shares all of the characteristics of a traditional partnership firm, with the exception of the same legal entity status and unlimited responsibility of the partners. As a result, limited liability partnerships have a separate legal existence and identity from their participants. Furthermore, its partners are only liable to a limited extent.

How to Register for LLP Registration?

E-StartupIndia professionals can help you to get LLP Registration (Limited Liability Partnership). Registering an LLP is a simple and quick process that can be done online with few easy steps

Step 1: Consult our Experts who will to check eligibility and documents requirement

Step 2: Our team will assist you in finding available name for LLP registration

Step 3: We assist you in applying for DSC and DPIN for LLP’s partners

Step 4: Our professionals shall prepare all necessary ROC forms and drafting the LLP agreement

Step 5: Apply and Deliver your Certificate of Limited Liability Partnership along with LLP deed

Why choose Limited Liability Partnership Registration?

The Limited Liability Partnership format is an alternative to partnership firms. It is a corporate business vehicle that gives the benefits of limited liability for a corporation while also allowing its members to organize their internal administration on the basis of mutual agreement, as in a partnership firm. It has various features like the following:

# Limited Liability

The accountability of partners shall be limited to the amount of their contributions to the company. In other words, they are not personally liable to outside creditors.

# Simplicity

In comparison to the ESIablishment and operation of a Private Limited Company, the formation and operation of an LLP are very straightforward.

# Perpetual Existence

An LLP is a legal entity that exists independently of its partners and partners may change from time to time.

# Minimum number of Partners

LLP can be formed with minimum of two partners.

# Separate Legal Entity

It is a separate legal entity that can hold properties in its own name and is solely responsible for its responsibilities.

# Unlimited numbers of Partners

You can have unlimited partners in Limited liability partnership firms. Eligibility for Limited Liability Partnership Registration

# Need Minimum Partners

In India, a minimum number of two partners is required for the formation of a Limited Liability Partnership.

# Indian Citizen partner

One of the partners should have Indian citizenship. In India, this is a legal prerequisite for LLPs.

# DPIN Number

An LLP's partners must all obtain a unique partnership identification number (DPin).

# Physical/Permanent Office Address

The Limited Liability Partnerships Act of 2008 makes this a requirement mandatory. The LLP must have a physical location for a registered office from where it may conduct day-to-day operation.

# DSC for all Partners

It is a legal necessity for all LLP partners to obtain a Digital Signature Certificate. This would aid in the filing of digital and electronic papers and signatures.

# Unique Company Name

Your company's name must be distinct and unique. The suggESIed company name should not be similar to any existing registered Indian companies or trademarks.