Limited Liability Partnership - Overview
Limited liability partnership is easiest form of business structure. Limited liability partnership was introduced in India in 2008. Limited Liability partnership incorporates the benefits of both Company firm & Partnership firm into a single form of organization.
Minimum 2 partners & No upper limit on the maximum limit for partners of an Limited liability partnership. At least one of the partners must be resident of India.
In Limited Liability Partnership Each Partners Liability is limited to amount they invest. One Partners Misconduct or negligence activities will not affect the other partners liability. Limited liability partnership gives complete freedom to partners to conduct a business in India.
Documents Required For Registration
- Digital signature of partners ( DSC ) A valid Digital Signature of all Partners . .
- ID Proof of all Partners, such as aadhar card and Voter ID/ Passport/ Driving License.
- Address Proof of all partners, such as the latest Telephone Bill /Electricity Bill/ Bank Account Statement.
- Passport size photograph of Shareholders and Directors of updated.
- Business Address Proofs such as latest Electricity Bill/ Telephone Bill of the registered office address
- NOC or No Objection Certificate to be obtained from the owner(s) of registered office
- Rent Agreement is needed if the registered office is a rented place.
Process To Register
- Applying for Digital Signature Certificate or DSC.
- Applying for the Director Identification Number or DIN
- Checking LLP name availability and Applying for the name availability.
- Filing LLP form
- Filing of LLP Agreement
- Obtain PAN & TAN
- Opening a current account on the company name in an authorized bank
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