Limited Liability Partnership Registration

What Is Limited Liability Partnership (LLP)?

A Limited Liability Partnership or LLP is a form of business Registration which offers the benefits of limited liability to the partners at low compliance costs.
LLP provides features of a partnership and the company are combined together.
A limited liability partnership is a legal entity, liable for the full extent of its assets
With registration, MyCorporation.in offers real-time updates, Compliance Support, FREE Accounting and Invoicing Software with FREE Legal Consultation.

Difference Between LLP & Partnership Firm

LLP is a form of business operation which combines the features of a Partnership and a body corporate and on the other hand Partnership refers to an agreement wherein 2 or more persons agree to carry on a business and share profits and loses mutually.

Advantages
One big advantage is that the partners are not liable personally and cannot be forced to pay a business debt or liability with personal property or assets. Their personal assets would be shielded from all business liability.

Disadvantages
Compared to a sole proprietorship or partnership, a LLP is a little more expensive to operate. The owner of a LLP may have to pay an unemployment compensation for him or herself, which he or she would not have to pay as a sole proprietor.

Documents Required For Limited Liability Partnership Registration

1 : PAN ( Permanent Account Number) of all Partners (Minimum 2)

2 : Address Proof ( Voter Id, Passport, Driving License, Aadhar Card) of all partners

3 : Latest passport size Photographs of all partners

4 : Registered Office Address Proof - Electricty Bill along with Rent Agreement / ownership proof of proposed registered office.

5 : Copy of Mobile bill, telephone bill, electricity bill or Bank Statement of all Partners with Present address

6 : Stamp paper for LLP Agreement of State where LLP is to be Incorporated

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Limited Liability Partnership Registration
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