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LLP Registration

Smartcorp makes online LLP registration easy and is a preferred choice for company formation in India.

Regulated by the Limited Liability Partnership Act 2008, LLP is a separate legal entity with perpetual succession. Ownership transfer within LLPs is simple. LLPs with capital below 25 lakh and turnover under 40 lakh are not required to undergo mandatory audits. As a juristic person, LLPs can acquire property, with directors differing from shareholders.

Smartcorp's expert professionals handle LLP registration accurately, providing liability protection that shields individuals from each other's misconduct and debts. Similar to private limited companies, LLPs benefit from limited liability safety, simplifying business for entrepreneurs. No minimum capital is mandated, and a minimum of 2 directors is required for LLP incorporation without any upper limit.

LLP registration continues to be a favored and adaptable business format, known for limiting liability and offering simplicity, making it appealing to many entrepreneurs.

Documents required for LLP Registration

Required Documents for Partners of LLP registration:

  • Latest passport-sized photographs
  • Identity proofs such as Voter ID, Aadhar card
  • PAN cards of all partners
  • Address proofs like telephone or electricity bills
  • Rental agreement or NOC from the landlord if the place is rented
  • Bank statements

Benefits of LLP Registration

Advantages of online LLP registration

  • No dividend tax for LLPs
  • Easy ownership transfer within LLP
  • Both partners and LLP can extend loans to each other
  • Minimal compliance requirements
  • LLP functions as a separate legal entity

Features of Limited liability partnership

Key Aspects of LLP registration:

  • Operates as a distinct entity
  • Requires a minimum of two partners
  • No initial capital requirement
  • Offers limited liability protection
  • Absence of principal-agency relationship