LLP Registration

Limited Liability Partnership (LLP) was presented in India by the way of the Limited Liability Partnership Act, 2008.

The main idea behind the introduction of a Limited Liability Partnership is to offer a form of business the entity that is simple to maintain while offering limited liability to the owners.

Since its introduction in 2010, more than one lakh people have done their registration for LLP. Under a Limited Liability Partnership (LLP), two or more partners are required for forming a special partnership and have limited liabilities.

It is registered as per the acquiescence and regulatory guidelines laid down by the Ministry of Corporate Affairs (MCA). LLP is also considered the simplest type of business to commence and manage in India.

Due to its easy registration process as well as compliance formalities, LLPs are often preferred by professionals, Micro and Small businesses that are closely-held or family-owned.

LLPs do not have the right to issue equity shares due to which it should not be chosen for any business that has plans for raising equity capitals from Angel investors, Venture capitalist, or private equity assets.

However, LLP is now often preferred by the majority of people due to its outstanding features like:

• It is known to have a distinct legal entity like companies
• The liability of each partner is restricted to the contribution which is made  by the  partner
• The cost of forming an LLP is quite low
• There are very fewer agreements and regulations
• No need for a minimum capital contribution

Process of registration for LLP

Step 1: Obtain the digital signature certificate
Step 2: Apply for the director identification number
Step 3: Reservation of name
Step 4: Incorporation of LLP
Step 5: File LLP agreement

Documentation needed for LLP

• Documentation of partners
• ID proof of the partners
• Address proof of the partners
• Residence proof
• Photograph
• Passport in case of NRIs only

Documentation of LLP

• Proof of registered office address
• Digital signature certificate

Outstanding benefits of LLP registration

Some of the major reasons why people prefer registering as LLP includes

•  It is a completely separate legal entity ·
•  Limited liability protection to directors’ assets is given ·
•  There is enhanced credibility as well as a better image in the market
•  LLP is easy to manage as the statutory audit is not required Continuity of business

So, if you want to do LLP registration at a reasonable cost than simply contact BusinessBadhega.com.

Note:- Fee Plus Government Charges addon & as per actual