Trademarksinn.com:We are Limited Liability Partnership (LLP) Registration Consultants in Salem
Limited Liability Partnership (LLP) Registration
Limited Liability Partnership (LLP) is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership business, In other words it offers benefits of both worlds by bringing simplicity in management and scope of expansion like that of a company. The compliance requirements are relatively less and only few returns have to be filed. For small LLP the audit Is not required and the compliance is based on the information declared by the partners. A Limited liability Partnership (LLP) is a new form of business introduced in the year 2009, this is a unique form of business in the sense that it has simplicity of a partnership firm and benefits of limited liability as in a limited corporation. Minimum two person can form an LLP with no maximum limit on the number of its partners. The advantage of llp form of business over a private limited is in the fact that there is less compliance requirement in comparison to a private limited company. For instance audit is not required till the time turnover reaches 40 lac or capital reached Rs. 25 lac. This is preferred choice for small businesses with less capital.
Limited Liability Partnership (LLP), introduced only in 2008, has quickly become a popular legal structure for businesses. Its main improvement over the General Partnership is that, as the name indicates, it limits the liabilities of its partners to their contributions to the business and also offers each partner protection from the negligence, misdeeds or incompetence of the other partners.
The LLP is also cheaper to incorporate than a private limited company, requires fewer compliances and can be a smart choice from a tax perspective. However, if you're looking to raise venture capital or attract talent with employee stock options, private limited is the way to go as LLPs cannot easily accommodate it. This is why they are most popular with professional services firms (web designers or architects, for example) that require no equity funding.
Choose LLP because
1. Dual advantages - Company and a Partnership
2. No partner will be responsible for other partner's misconduct
3. Cheaper to incorporate than a private limited company
4. Limits the liabilities of its partners
ADVANTAGES OF LIMITED LIABILITY PARTNERSHIP (LLP)
1. Separate Legal Entity
2. Uninterrupted Existance
3. Audit NOT Required
4. Easy Transferability
5. Owning Property
6. Limited Liability
Process of Limited Liability Partnership (LLP) Registration
1. Digital Signature of Director
DSC is required for efiling with MCA. An application need to be filed along with ID and Address proof duly attested by a Gazetted Officer, Post Master or a Manager of Nationalised Bank.
2. Director Identification Number
It is a unique number which is allotted to a director of a company or designated partner of a LLP, Attested Photo, ID and Address proof is required to be filed along with application.
3. Name Approval Of LLP
A Company registering In India need to get its name approved from the ROC, The name should be new, unique and which does not closely resembles with an already registered company.
4. MOA & AOA of Company
MOA is a legal document which defines activities of the company where as the AOA is rule book for company operation. these are drafted in line with the provisions of companies Act 2013.
5. Company Incorporation
Based of declaration & information provided in the application the ROC registers a Company and issues a certificate of incorporation, which is considered as conclusive proof of registration.
6. PAN, TAN & Bank Account
A Company needs a bank account to operate its business, our specialists shall be helping you in opening the bank account after the Pan is allotted, Tan is for TDS Compliance.