Limited Liability Partnership (LLP)
What is a Limited Liability Partnership (LLP)
- Governed by LLP Act 2008
- Has the combined advantage of Partnership Firm and Private Limited Company.
- Minimum two partners, no restriction on maximum number of partners
- Separate legal status from partners
- Liability of partners limited to contribution/capital
- No minimum contribution/capital
- Audit is mandatory only for turnover above Rs. 40 lakhs or contribution above Rs. 25 lakhs.
- Simplified registration process compared to a Private Limited Company
- Easy transferability
Incorporation Process
- Apply for DSC for all proposed partners – Min 3 days (if not already held)
- Apply for DIN for all proposed partners – Min 1 day (if not already held)
- Apply for name approval in Form1 with partner details and partnership deed – Min 2 days
- Apply for incorporation in Form-2 – Min 7 days
Our Services
- Drafting partnership deed and incorporation of LLP
- Support/advisory for business needs after registration
- Accounting, taxation, GST, Import Export Code, Legal Entity Identifier services