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LIMITED LIABILITY PARTNERSHIP:

What is Limited Liability Partnership Registration?


LLP refers to Limited liability partnership and is governed by Limited Liability Partnership Act 2008. Limited Liability partnership provides advantage of limited liability to its owners and at the same time requires minimal maintenance. The directors of a private limited company have limited liability to creditors. In case of default, banks / creditors can only sell company's assets and not personal assets of directors.

Choose Limited Liability Partnership Because


Dual advantages- Company and a Partnership

No partner will be responsible for other partner's misconduct

Cheaper to incorporate than a private limited company

Limits the liabilities of its partners

What Is Included In Our Limited Liability Partnership Registration Package?


DPIN for 2 Partners

Digital Signature For 2 Partners

Name search & approval

LLP Agreement

ROC Fees & Pan Card

Documents Required For Limited Liability Partnership Registration


Copy of PAN Card of partners

Passport size photograph of partners

Copy of Aadhaar Card/ Voter identity card

Copy of Rent agreement (If rented property)

Electricity/ Water bill (Business Place) card of directors

Copy of Property papers (If owned property)

Landlord NOC (Format will be provided)

Advantages of Limited Liability Partnership


Separate Legal Entity


A LLP is a legal entity and a juristic person established under the Act. The partners are distinct from the entity and both can sue each other and get sued in the process.


Uninterrupted Existence


A LLP has perpetual succession that is continued existence until it is brought on the terms of the dissolution by mutual agreement within the partners. Partners may come and go, but an LLP goes on.


Audit not Required


Entrepreneurs earning a turnover of less than 40 Lakhs and capital contribution of less than 25 Lakh need not get their accounts audited .Therefore, LLPs are ideal for startups and small businesses that are just starting their operations and want to have minimal regulatory compliance related formalities.

Easy Transferability


The ownership of a LLP can be easily transferred to another person. All you need is to induct them as a Designated Partner of the LLP. LLP is a separate legal entity separate from its Managing Partners, so by changing the Managing Partners, the ownership of the LLP can be changed.


Owning Property


An LLP being a juristic person, can acquire, own and enjoy property in its own name. And this is entirely distinct from its partners. No Partner can make any claim upon the property of the LLP so long as the LLP is a going concern.


Limited Liability


The biggest advantage is Limited Liability, which means the status of being legally responsible only to a limited amount for debts of a LLP. Unlike proprietorships and partnerships, in a LLP the liabilities of the members in respect of the LLP‟s debts are limited. The personal assets of the directors are safe if the company goes bankrupt.So it's entirely a win –win situation for you if you plan to step to head forward with a suffix LLP.


Contact Us

  •  Divayan Bhawan 1st Floor , Kankarbagh Main Road Near Dena Bank , Opp Jalanshop, Kankarbagh Main Rd, Kankarbagh Colony More, Ghrounda, Patna, Bihar 800020.
  •  2nd Office:  WZ147, 3rd floor Mandiri wali gali, Shadipur, New Delhi-110008.
  •   8800170088, 9709480009
  •   csakassociates@gmail.com
         info@truebusinessminds.com