Limited Liability Partnership
LLP is another corporate business form that gives the advantages of limited liability of an organization and the adaptability of a partnership. The LLP can proceed with its existence independent of changes in partners. It is capable of going into contracts and holding property in its own name. The LLP is a different legal entity, is liable for its benefits however obligation of the partners is constrained to their agreed commitment in the LLP. Further, no partner is at risk because of the independent or un-approved activities of different partners, therefore singular partners are protected from joint obligation made by another partner's wrongful business choices or misconduct.
Qualification for LLP registration in India:
Minimum Two People:
An LLP can be begun by no less than two partners, however there in utmost to the most extreme number of partners.
Based on the business necessity the partners must settle on the capital of the LLP, as the govt expense relies upon it.
Resident Designated Partner
One designated partner of LLP must be resident in India by remaining for no less than 182 days in India during the budgetary year.
Unique Name of LLP
The name of LLP should not look like with the name of any current organization, LLP or a trademark.
Documents Required For LLP Registration:- (All copies of documents should be self-attested by the customer)
- Two front-facing color photographs of all partners or designated partner.
- Pan Card of each partner, The name must match with IT database.
- Identity Proof of each partner, (Aadhar Card, Passport, Driving License or Voter ID Card).
- Address Proof (Bank Statement or Passbook, electricity bill, telephone bill, or any utility bill).
- Proof of the registered address of the LLP (Sale Deed, electricity bill, tax paid receipt or any other utility bill).
- No objection Certificate from the owner of the premises where the registered office of the LLP shall be situated.
- Documents Must be self-attested and attested by a Gazetted Officer, Post Master or a Bank Manager.