LLP Firm Formation
LLP Firm Formation
A Limited Liability Partnership (LLP) is a business structure that combines the benefits of a partnership and a corporation. It offers the flexibility and tax advantages of a partnership, with the limited liability protection of a corporation. This means that the personal assets of the partners are protected from the debts and liabilities of the LLP.
LLPs are well-suited for a variety of businesses, including professional services firms, such as law firms, accounting firms, and consulting firms; small businesses; and joint ventures. They are also a popular choice for startups, as they are relatively easy and inexpensive to set up and maintain.
Advantages of LLP’s
- Limited liability protection for
- partners
- Flexibility in management and
- ownership
- Tax benefits
- Increased credibility
- Easy to set up and maintain
Document Needed
The following documents are needed for LLP firm registration in India:
- PAN card copies of all promoters and shareholders
- Aadhaar card/voter ID/passport copies of all promoters and shareholders
- Passport-size photographs of all promoters and shareholders
- Latest bank statement/utility bill copies of all promoters and shareholders
- Registered office address of the LLP along with address proof (electricity bill/telephone bill/gas bill/mobile bill not older than 2 months)
- Rent agreement from the property owner
- No objection certificate from the owner