Limited Liability Partnership-A Brief Overview

 

business into llp

The Limited liability partnership is defined as the form of business that offers the benefits of limited liability and flexibility of a partnership firm.  With the formation of LLP, no single partner can be held liable for any other member of the partnership. Also this form of business prevents any harm on the personal assets of partners, in case of a debt or loss in the company.

A LLP firm can be constituted by a minimum of two people with no maximum limit. But at least one of the partners has to be of Indian nationality. For commencing the business of the LLP, the company needs to do LLP registration under the Ministry of Corporate Affairs, as per the guidelines of the Limited Liability Partnership Act, 2008. It provides a legal agreement that governs the rights, duties, and responsibilities of all the partners, to follow all the provisions of the given Act.

Provided below are some prominent reasons to ConvertBusiness to LLP:

•         It provides a separate legal entity for the firm like private companies.
•       It limits the liability of partners to the contribution of the partner.
•      The cost of formation of an LLP is very low.
•       It provides less compliance and easy regulations.
•      It does not require any minimum capital contribution.

 

COMPANY REGISTRATION

Email: Contact@Company-Registration.in

Call/Whatsapp: 8800100284

Website:www(dot)company-registration(dot)in/

Address: S-191C, Manak Complex, School Block, Shakarpur

New Delhi, Delhi 110092 

Brief Discussion on One Person Company Advantages in India!

The one person company form of business involves the ownership of only one person and that person himself is the shareholder and director. This form of business requires very less capital investment and the profit earned is completely of the owner. This company type was introduced under the Company Act, 2013 for helping the small businessmen and entrepreneurs. 

Advantages

OPC registration has numerous advantages over other small company types, which makes it a feasible option for new business owners. Some of the one person company advantages are provided below:

• The OPC registration provides a separate legal identity to the company. It can have succession and can get funding or loans as an individual person.
• This form of company has limited liability. Hence, in situation of loss the person assets of the owner will not be forfeited. It also states that the responsibility of the owner is only upto the shares he has in the company.
• The OPC has a direct contract with the shareholders or directors. Hence, with numerous remunerations for the director, the company can avail tax benefits.
• Under the OPC registration, the company owner comprises the power to make all decisions and executing them. This makes the work faster and assists in business growth.
• OPC is a popular form of business and large organization prefer to deal with them. Hence the company obtains a corporate status in society and a structured way of working.

Thus, as stated above there are multiple advantages of one person company registration in India. The business owners can take assistance of legal firms for swift and flawless application, which would accelerate the process of receiving certification.

Company Registration In India

Email: Contact@Company-Registration.in

Call/Whatsapp: 8800100284

Website:www(dot)company-registration(dot)in

Address:S-191C, Manak Complex, School Block, Shakarpur,New Delhi, Delhi 110092