Limited Liability Partnership (LLP) combines the benefits of a partnership and a company. It provides limited liability protection while maintaining the flexibility of a partnership structure.
Advantages of LLP
- Limited liability for partners
- Separate legal entity
- Lower compliance than Pvt Ltd
- No minimum capital requirement
- Perpetual succession
- Easy to add or remove partners
- Tax benefits
Who Should Choose LLP?
- Professional service providers (CA, CS, Lawyers, Consultants)
- Small and medium businesses
- Startups with multiple founders
- Family businesses
Documents Required
- PAN and Aadhaar of all partners
- Passport size photographs
- Address proof of partners
- Registered office address proof
- Rent agreement and NOC
- Digital Signature Certificate (DSC)
Registration Process
- Obtain DSC for designated partners
- Director Identification Number (DIN)
- Name approval (RUN-LLP)
- Filing incorporation form (FiLLiP)
- Certificate of Incorporation
- PAN and TAN allotment
- LLP Agreement filing
Minimum Requirements: 2 partners, 2 designated partners
Time Required: 10-15 working days
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