Limited Liability Partnership

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What Is An Llp?

Limited liability partnership (LLP) is one of the popular business types amongst the startup
and small business with two or more individuals and firms. It has some features of Private
limited company and Partnership firm.

It gives the benefit like private limited company with easy tax compliances as compare to
private limited. This concept was introduced in 2008 in India and is regulated by the Limited
Liability Partnership Act,2008.

It gives limited liability to their partners just like a private limited company. It is easy to start and run an LLP firm in India because of less maintenance and compliance cost. A minimum of two partners are needed to start and LLP.

Definition as per the Limited Liability Partnership Act,2008.

“limited liability partnership” means a partnership formed and registered under this Act”

Nature Of Limited Liability Partnership

Incorporation: A limited liability partnership is a body corporate formed and
incorporated under LLP Act,2008 is a legal entity separated from its partners
Perpetual succession: A limited liability partnership has perpetual succession just like
private limited nothing will change even if the partners change or died
Partner: Any individual and corporate body can be the partner of the LLP except
person who are not capable of becoming the partner like undischarged insolvent,
person disqualified by the court or as mention in LLP Act, 2008
Every limited liability partnership shall have at least two partners

Documents Required for LLP Registration in India

To register a Limited Liability Partnership (LLP) in India, the following documents are typically required:

Identity Proof of Partners:

PAN Card (Indian Nationals) or Passport (Foreign Nationals)
Aadhaar Card or Voter ID Card
Passport-sized photograph

Address Proof of Partners:

Aadhar Card or Voter ID Card
Passport or Driving License•
Utility bills (electricity bill, water bill, gas bill or telephone bill) not more than 2 months old

Registered Office Proof:

Rent agreement or lease deed (if rented)
Property tax receipt or ownership deed (if owned)
NOC (No Objection Certificate) from the landlord (if rented)

Digital Signature Certificates (DSC):

DSC of all partners applying for LLP registration.

Consent of Partners:

Consent of each partner to act as partners of the LLP in Form 9.

Form for LLP Registration:

Form 2: Application for the incorporation of LLP, along with details of partners, registered
office address, LLP agreement, etc.

Declaration by Designated Partners:

Declaration in LLP Form 1 regarding compliance with all requirements of LLP incorporation.

**Other Optional Documents (if applicable):

Limited Liability Partnership

What Is An Llp?

Nature Of Limited Liability Partnership

Documents Required for LLP Registration in India

Identity Proof of Partners:

Address Proof of Partners:

Registered Office Proof:

Digital Signature Certificates (DSC):

Consent of Partners:

Form for LLP Registration:

Declaration by Designated Partners:

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