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. LLP required minimum 2 person as designated Partner. LLP has no restriction of minimum capital contribution.
Documents Required
- ID Proof of Partner
- Address proof of Partner
- Photo of Partner
- Qualification of Partner
- Valid contact no.
- Valid mail ID
- Residential Address Proof
- Consent of all partner
- Name of the company
- Object/ Main Business of the company
- Address proof of company
- Term and condition
- Profit Sharing Ratio
Benefits
- Minimum 2 person Required as Partner
- Almost all feature as that of company
- No minimum capital requirement
- Less Registration Cost
- Less Compliance cost
- Separate Legal Entity
- Liability of partner is limited
- Easy to change the registered office