Limited Liability Partnership is one of the easiest form of business registration to register and manage in India. It has lesser compliance obligations as compare to Private Limited or One Person Company and also has mix benefit of Private Limited as well of Partnership Firm.
Low registration and maintenance cost makes it most preferred business registration type for early age startups. It is the extended form of Partnership Firm having various features of Private Limited Company such as registration with Ministry of Corporate Affairs, issuance of unique identification number which is DPIN to their Partners, maintenance of firm’s record with Ministry, listing of your LLP’s details on MCA’s web portal etc. Government has provided various exemptions to Limited Liability Registration to support small scale businessman.
A Limited Liability Partnership does not need to comply audit requirement upto Turnover of Rs. 40 Lack or Capital of Rs. 25 lack, which reduced its annual cost.
Basically Limited Liability Registration governs by agreement that is why the registration procedure for Limited liability Partnership Registration is quite simple.
Limited liability Partnership Registration have also feature of ownership transferability, Limited liability Partnership may easily add or remove designated partner.
A Limited Liability Partnership Firm have its separate legal entity, It can sale, purchase, rent or alienate any kind of property or rights by its own name.
As compare to other company Limited liability Partnership Registration would cost you less, however due to variation of stamp duty in every state it registration cost varies.
Yes! Invest as per your requirement; you don’t need to maintain a minimum level of contribution. You can even start your LLP by investing Rs. 10.
It became easy, just follow these steps to get your work done