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Limited Liability Partnership

Limited Liability Partnership (LLP) is defined as an entity formed and registered under the Limited Liability Partnership Act, 2008.

LLP is a combination of both partnership and corporation. It has a perpetual succession and separate legal entity. As a hybrid business entity, the LLP combines the limited liability features of companies with the operational flexibility of partnership firm.

Advantages Of LLP

  • LLP is easy to form
  • Partners will have limited liability
  • Perpetual succession
  • The audit is required only, when the turnover of the company exceeds Rs 40 lakhs and the contribution exceeds Rs 25 lakhs.
  • Lower registration costs

Documents to Be Submitted By Partners

  • PAN Card or passport (Foreign Nationals & NRIs)
  • Aadhar Card/ Voter's ID/Passport/Driver's License
  • Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
  • passport-sized photograph Specimen signature (blank document with signature [partners only])
  • Note: First three documentsneed to be self-attested by any one of the partners. In the case of foreign nationals and NRIs, all the documents must be notarized or apostilled.
  • Digital signature certificate of a partner
  •  LLP agreement of the parties

For the Registered Office

  • Latest bank statement/telephone or mobile bill/electricity or gas Bill
  •  Rental Agreement should be notarized in English
  • No-objection Certificate from the property owner
  • Sale Deed/Property Deed in English (in case of owned property)
  • Note: Your registered office need not be a commercial space; it can be your residence, as well
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