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Limited liability Partnership Registration (For Indians)
How can you set up a Limited Liability Partnership in India
Starting
out alone on a life adventure can sometimes turn out to be risky business, and
hence we need partners to get a second perspective on various aspects. Partners
will always be there to lend a helping hand in times of need and celebration.
In business too, we can find similar patterns.
Limited
Liability Partnership (LLP) is a newly introduced corporate entity type in
India aimed at entrepreneurs, small and medium sized businesses. An LLP
provides many benefits of a Private Limited Company and at the same time it is
easier to maintain compliance. Low registration fee and easy maintenance make
LLP a first choice for many of the small businesses in India.
Limited Liability Partnership (LLP)
Limited
Liability Partnerships, LLP is a unique and new form of business that combines
the advantages of both 'Company' and 'Partnership' in a single business entity.
This was introduced in India in 2008 with the approval of the Limited Liability
Partnership Act, 2008.
LLP
is a superior type of partnership. A normal partnership is often discouraged
due to its unlimited liability feature, i.e. your personal assets may be seized
in case all the dues are not cleared. To counter this problem, an important
feature of limited liability of company was added to the partnership, resulting
in Limited Liability Partnership.
LLP
is a separate legal entity, which can be formed in India by a minimum of two
persons coming together with a motive of earning profit. Unlike a Private Ltd
Company, an LLP is easy to manage and it is subjected to minimal post
registration compliances.
