Limited Liability Partnership
Limited Liability Partnership (LLP) is the form of business which provides you the benefits of both private limited company and partnership. Basically it is a combination of private limited company and partnership firm.
Cambridge Corporate Solutions helps you to register your LLP at JustRs. 6,999/- (All inclusive, No hidden charges).
Every thing you need to know about Limited Liability Partnership (LLP)
What Is Limited Liability Partnership?
- Limited liability Partnership is a new form of doing business which governed with Limited Liability Act 2008. It is combination of private limited company and partnership firm.
- The liability of the partners of the LLP is limited to their capital contribution and therefore the personal properties of the partners cannot be utilise to pay off the dues of the LLP.
- No others partners could be held liable for other partners Mistakes or Misconduct.
- LLP is distinct legal entity which means LLP is separate from its partners and it acquire a property, execute the agreement and enter into contract in its own name.
- There should be One Indian Designated Partner in LLP.
Benefits of Limited Liability Partnership
- Incorporating of LLP is a very simple process
- It has a perpetual succession.
- One can easily transfer their ownership by selling their sales, resigning as a partner of LLP or admitting one as a partner of LLP.
- No limit on maximum number of partners in the LLP.
- Partners can easily and flexibly organise internal Structure of LLP.
- This type of firm is most preferred by Doctors, CA, CS, Engineers and other Professional and other service providing as well as manufacturing and trading businesses.
List of Documents Required
- Copy of PAN card and Address Proof of Partners.
- Passport size photos all Partners
- Phone No., Email ID, Occupation, Education qualification of Partners.
- Proposed names of LLP with its meaning (Maximum 6 names).
- Nature of Business of proposed LLP.
- Total contribution (capital) of proposed LLP.
- Contribution of each partner in proposed LLP.
- Profit Sharing Ratio.
- Address proof for registered office (Electricity Bill)
Process of LLP
- Filing Run LLP form for name approval.
- Appling for digital signature.
- Preparation and drafting documents for LLP registration.
- Preparation and filing of form Fillip for incorporation.
- Replies to query CRC if any.
- Preparation and drafting LLP Agreement.
- Preparation and filing Form-3.
What You Will Get?
- One Digital Signatures.
- Two Din Numbers.
- Name approval of your LLP
- Resolving the queries raised by the CRC and resubmission of application
- Govt. Fees payment receipt
- Certificate of incorporation.
- LLP Agreement.
- After incorporation consultancy for opening bank account.
Time period for Registration of LLP:
This whole process of registration shall take approx 15-20 days and the said time limit is subject to the documents submission from client and the processing of application from concern government authorities.