LLP Registration Online Low price LIMITED LIABILITY PARTNERSHIP Inc
A Limited Liability Partnership (LLP) is a partnership in which some or all partners have limited liability. It, therefore, exhibits elements of partnerships and corporations. In an LLP, one partner is not responsible or liable for another partner’s misconduct or negligence. This is an important difference from that of an unlimited partnership. In an LLP, some partners have a form of limited liability similar to that of the shareholders of a corporation. In some countries, an LLP must also have at.
An LLP is a body corporate and legal entity separate from its partners. It has perpetual succession. LLPs are registered under the Limited Liability Partnership Act, 2008.
Being the separate legislation (i.e. LLP Act, 2008), the provisions of Indian Partnership Act, 1932 are not applicable to an LLP and it is regulated by the contractual agreement between the partners.
Every Limited Liability Partnership shall use the words “Limited Liability Partnership” or its acronym “LLP” as the last words of its name.
Any Indian Citizen residing in India can be a Partner in an LLP. Foreign Direct Investment is allowed in an LLP with prior RBI approval. Minors are however not allowed to be part of an LLP. An LLP must have a minimum of 2 Partners and is allowed to have unlimited Partners. The LLP Agreement governs aspects of management of an LLP and one or more Partners can be designated to manage the activities of the LLP.
LLPs are registered with the Ministry of Corporate Affairs. LLP registration process is similar to that of a Private Limited Company Incorporation process, viz. obtaining Digital Signature Certificate for the Partners, obtaining Designated Partner Identification Number (DPIN) for the Partners, obtaining name approval from MCA, obtaining Incorporation Certificate and filing LLP Agreement. Notes Book Cart can register your LLP for Rs.12000/-
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