Limited Liability Partnership (LLP)

Limited Liability Partnership is as partnership alike a general partnership where partners come together to form a profit based company but the only differential benefit here is that in the time of loss, no creditor can go after any of the partner’s personal assets. LLP doesn’t ask for any minimum capital or maximum number of members restricted. LLP requires separate legal entity like any other company so that there will be a distinct difference between LLP and partners. LLPs are common in professional business like law firms, accounting firms, and wealth managers. LLP is flexible in nature and easy to run with no theft of selling or forfeiting your personal assets this way you won’t have to be afraid to take risk which can lead you to expand your business.

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    BENEFITS OF LLP:

    1. Easy to form
    2. Limited Liability
    3. Perpetual succession
    4. Separate Legal Identity
    5. Not liable for another partner’s misconduct 
    6. Mutual decided rights and duties 
    7. Hybrid Business Structure 
    8. No compulsory audit required

    REQUIRED DOCUMENTS:

    S. NoParticularsRemarks
    1Digital Signature Certificate of one partnerForm will be provided
    2Two proposed NamePlease provide
    3Self attested copy of PAN of  all PartnersPlease provide clear scan copies
    4Self attested Copy of Passport/DL/Voter ID of all Partners
    5Latest 2 months Bank statement of all Partners Please provide clear scan copies
    6Object of the  LLP Please Provide
    7Capital of the  LLP Please Provide
    8Proof of Registered office of the Companya.         Rental agreement or Sale deed (If any) 

    b.        Consent Letter from the landlord to use the office (Format will be provided) and

    c.       Copy of utility bill (electricity/ telephone, gas) not later than 2 Month (Mandatory)

    10LLP Agreement

    (Format will be provided)

    It is required after registration of LLP registration and on the Stamp Paper.

    Further Value of stamp paper will be depending upon the Capital of LLP and State of Registered office where the LLP will be set-up.

    ENROLLMENT PROCESS THROUGH SMARTBIZGURU:

    Smartbizguru also helps in posting compliance of the Company like appointing a Auditor, Preparing Finance of the Company, Filing of GST Returns and Other Returns to Government Authority, Registrar of Company (ROC) Compliances, and Consultation on Digital Market solutions. 

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