Are you planning to Register your Business as LLP? Confused to complete the process? Do not worry, our professionals at Audit India, one of the best LLP registration service provider in India is ready here to help you to complete the LLP registration process.
An LLP combines elements of a company and a partnership firm. The LLP is governed by the Limited Liability Partnership Act, 2008 in India. An LLP must have a minimum of two partners to be incorporated. However, there is no upper restriction on how many partners an LLP can have.
A minimum of two chosen partners must be persons and at least one of them must have a residence in India among the partners. The LLP agreement governs the obligations and rights of chosen partners. They bear primary responsibility for ensuring that all LLP Act of 2008 and LLP Agreement provisions are followed.
Benefits
- It has a separate legal entity just like companies.
- The liability of each partner is limited to the contribution made by the partner.
- The cost of forming an LLP is low.
- Less compliance and regulations.
- No requirement of minimum capital contribution.
Process
- Step 1: Obtain Digital Signature Certificate (DSC)
- Step 2: Apply for Director Identification Number (DIN)
- Step 3: Name Approval
- Step 4: Incorporation of LLP
- Step 5: File Limited Liability Partnership (LLP) Agreement