Limited Liability Partnership Registration
What is LLP Registration?
LLP is a form of partnership that is registered under the Limited Liability Partnership Act, 2008 where liabilities of all the partners are limited to the extent of contribution bought by them. It helps owners to limit their liabilities while enjoying the advantages of a limited company which is an edge over a traditional partnership firm.
No partner is liable on account of unauthorized actions of other partners, thus individual partners can safeguard them from joint liability arising from misconduct of other partners. LLP as an organization is mostly preferred by professionals, micro and small businesses.
LLP Registration - Benefits
No partner is liable on account of unauthorized actions of other partners, thus individual partners can safeguard them from joint liability arising from misconduct of other partners. LLP as an organization is mostly preferred by professionals, micro and small businesses.
Separate Legal Entity
An LLP is a separate legal entity from its partners. It is a major advantage that is not available for normal partnerships.
Lower cost
The cost of registering an LLP is comparatively lower than a private limited as well as a public limited company.
Limited Liability
It helps in protecting the personal assets of the owners with limited liability protection.
No Minimum Capital required
An LLP can be formed with the least amount of capital as there is no minimum capital requirement for incorporating an LLP.
Checklist for LLP registration
There are certain minimum requirements for LLP registration that need to be met. Here's the quick checklist:
Documents required for LLP Registration
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