LLP Registration in India – An Insight on the Concept and Process

Limited Liability Partnership Registration

  LLP

The Limited Liability Partnership or LLP is the form of business that is carried out by more than one person. There are a few partners who are shareholders in the company. This is basically a for-profit business form, in which the partners are legally bound towards their company. The people who come together to form an LLP are those who are well-versed with the business world and are a professional businessman.  Most of them are individual business owners who want substantial growth in their business. This collective growth can be achieved by doing an LLP.

Advantages of Limited Liability Partnership (LLP) registration in India

An LLP is only formed by professional and skilled businessmen, who have an individually huge client base and they are backed by years of experience. The people engaging in an Limited Liability Partnership Registration have to sign a legal agreement wherein, they will bring business for the company and work for a collective growth. The profit report is created every year to understand the benefits and losses incurred by the company.

The concept of LLP works because it has more merits in comparison to minute demerits. Descriptively, this cuts majorly on the cost of doing business with increase in the growth capacity of the LLP. In an LLP the partners can share office space, employees, etc. Main advantage about digging into LLP is that, the reduced cost ends is relevantly higher profits, as compared to individual business.

LLP had been in action in India since January 2009, and it has been a huge hit owing to the easy maintenance, along with providing limited liability to the business owners. But once the company is formed with the partnership of 3 or more people, the next step is to register a llp company in india for the business to function as a separate entity.

Process of LLP registration

To reduce the tension of the confusing process of LLP registration, the steps for LLP registration in India is here in this article:

• Arrangement of the documents required from the partners.
• Filling the online application with precise details
• An application has to be done for Digital Signature and DIN of involved Partners
• Complete preparation of all the legal documents.
• An application for the unique name for the proposed LLP
• Documents and forms verification process
• Incorporation of the Docs file with ROC
• Furnishing of the LLP Incorporation certificate
• Process of drafting LLP Agreement
• Finally filing for LLP Agreement

Company Registration In India
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