ABOUT LIMITED LIABILITY PARTNERSHIP
A Limited Liability Partnership (LLP) is a modern business structure in India governed by the Limited Liability Partnership Act, 2008, combining the advantages of a partnership firm and a private limited company. An LLP provides limited liability protection to partners while allowing flexibility in management and fewer compliance requirements.
BENEFIT OF LIMITED LIABILITY PARTNERSHIP
-Limited Liability
-Separate Legal Entity
--There is no restriction on maximum number of partner
-Less compliance Burden as compared to Private Limited and Public Limited Company
-No AGM is required to be conducted
-No Board Meeting is required
-Easy to manage
-Quick Desion Making
-Tax Benefit
-Easy exit to partners
RESTRICTION ON ONE PERSON COMPANY (OPC)
-Minimum Nos of Partners is 2
-Cannot raise fund from Market
-LLP cannot be formed for non-profit making
DOCUMENTS REQUIRED FOR INCORPORATION OF COMPANIES
-Unique name of Proposed LLP
-KYC of Proposed Partners (PAN/Adhar/Mobile Number/Email ID)
-Passport Size Photograph of Proposed Partners
-DIN of proposed director, if already having DIN
-Digital Signature (DSC) class-3 of proposed directors
-Residential Proof
-Address Proof of office address along with latest supporting documents
-No objection Certificate
PATHWAYS FOR INCORPORATION OF COMPANIES
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