100+ LLP Registrations since 2020.
What Is a Limited Liability Partnership?
LLP is a popular type of partnership where limited liability Partners enjoy protection of personal assets from debts, liabilities & damages. An LLP is a corporate body and legal entity separate from its partners. It has perpetual succession in every state and is registered under the LLP Act, 2008.
It combines the flexibility of a partnership with the limited liability of a company.
Advantages of LLP
Limited Liability
The partners are not personally liable for the debts of the LLP. Their personal assets are protected if the LLP becomes insolvent.
Pass-through Taxation
LLPs avoid double taxation. The income is taxed directly in the hands of the partners, not at the company level (subject to specific tax laws).
Flexibility
Partners can agree on any management structure they choose, and there are fewer compliance restrictions compared to Private Limited Companies.
Pre-requisites for Incorporating an LLP
- Minimum two partners allowed (Individual or body corporate).
- At least two designated partners, with one being an Indian resident.
- Digital Signature Certificate (DSC) needed.
- Mandatory to have a unique LLP name.
- LLP Agreement is essential.
Documents Required
We need the following scanned documents to process your application: