A partnership firm with limited liability is termed as Limited Liability partnership (LLP). It has been popularly replacing traditional partnership from almost a decade. It can be owned and run by more than one person.
Partners can share responsibilities and profits equally or by partnership ratio.
Separate Legal Entity.
No minimum capital contribution required.
Limited liability of partners.
No limit on number of partners.
No requirements of compulsory audits.
Dividend distribution tax not applicable.
Easy to incorporate, operate & dissolve.
DIN & DSC registration.
Name reservation.
Partnership deep drafted by Lawyer.
Firm PAN & TAN registration.
Certificate of Incorporation.
GST registration (If applicable).
Business license consultation.
Help in opening of bank account.
Minimum 2 partners.
Photographs, PAN & Aadhaar Card.
Contact number, email id.
Address proof or lease of business address.