Limited Liability Partnership

(LLP) Company Registration Process

Has Become A Preferred Form Of Organization Among Entrepreneurs As It Incorporates The Benefits Of Both Partnership Firm And Company Into A Single Form Of Organisation.

The Concept Of The Limited Liability Partnership (LLP) Was Introduced In India In 2008. An LLP Has The Characteristics Of Both The Partnership Firm And Company. The Limited Liability Partnership Act, 2008 Regulates The LLP In India. Minimum Two Partners Are Required To Incorporate An LLP. However, There Is No Upper Limit On The Maximum Number Of Partners Of An LLP.

Among The Partners, There Should Be A Minimum Of Two Designated Partners Who Shall Be Individuals, And At Least One Of Them Should Be Resident In India. The Rights And Duties Of Designated Partners Are Governed By The LLP Agreement. They Are Directly Responsible For The Compliance Of All The Provisions Of The LLP Act, 2008 And Provisions Specified In The LLP Agreement.

Features Of LLP

It Has A Separate Legal Entity Just Like Companies.
The Liability Of Each Partner Is Limited To The Contribution Made By The Partner.
The Cost Of Forming An LLP Is Low.
Less Compliance And Regulations.
No Requirement Of Minimum Capital Contribution.

The Minimum Number Of Partners To Incorporate An LLP Is 2. There Is No Upper Limit On The Maximum Number Of Partners Of LLP. Among The Partners, There Should Be A Minimum Of Two Designated Partners Who Shall Be Individuals, And At Least One Of Them Should Be Resident In India.

The Rights And Duties Of Designated Partners Are Governed By The LLP Agreement. They Are Directly Responsible For The Compliance Of All The Provisions Of The LLP Act 2008 And Provisions Specified In The LLP Agreement.

If You Want To Start Your Business With A Limited Liability Partnership, Then You Must Get It Registered Under The Limited Liability Partnership Act, 2008