Limited Liability Partnership

Limited Liability Partnership (LLP) Registration

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Limited Liability Partnership

A Limited liability partnership¬†(LLP) is a partnership in which partners have limited liabilities. It therefore can exhibit elements of partnerships and corporations. In an LLP, each partner is not responsible or liable for another partner’s misconduct or negligence. This is an important difference from the traditional partnership. As the name suggests partners have limited liability in the company which means that personal assets of the partners are not used for paying off the debts of the company. Now a days it has become very popular form of business as many entrepreneurs are opting this. There are several partners in the firm and hence they are not liable or responsible for others misconduct. Everyone is liable for their own acts. All limited liability partnership is governed under the limited liability partnership act of 2008.

It is a separate legal entity distinct from its owners. It can enter a contract and acquire property in its name. LLP form is not just prevailing in India. It is also seen in countries like the United Kingdom, Australia etc.

Some of the advantages of Limited liability partnership includes east formation, limited liability, perpetual succession, flexibility in decision making, ease in transferability of ownership, taxation reliefs as compared to the company, no compulsory audit etc.

Some of the disadvantage are less credibility as compared to a company, dispute between partners, lengthy procedure for transfer of interest, lack of recognition etc.

LLP registration in India involves the process and documentation which can be easily handled by our firm.

We offer registration services like partnership firm, one-person company (OPC) registration, private limited company registration, Nidhi Company Registration, Section 8 Company Registration, Producer Company Registration and setting up permanent establishment for foreign companies. If you are interested in forming an entity, we at there for you. Get in touch for consultation with one of our experts.

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