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| 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
Check out this blog to know How to convert a Partnership firm to a Limited Liability Partnership?
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