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LLP
LLP
Limited Liability Partnership is a new version alternate of tradition partnership firm. The concept being introduced in India in 2008, it affords you the advantages of a traditional partnership with benefits of a corporation. Being a hybrid of a partnership and a corporation it offers limited liability, perpetual succession and no restriction on maximum number of partners while offering same flexibility and tax structure of a partnership firm. A LLP is subjected to annual compliance unlike a traditional partnership firm.
Registration in 7-10 days.
Get ready to start with Certificate of Incorporation, LLP Deed, PAN and Bank accountant opening
included.
Restrict you liability and give your partnership the LLP status.
FAQ
Ans: Yes, an existing partnership firm can be converted into LLP by complying with the Provisions of clause 58 and Schedule II of the LLP Act. Form 17 needs to be filed along with Form 2 for such conversion and incorporation of LLP.
Ans: Yes, any existing private company or existing unlisted public company can be converted into LLP by complying with the Provisions of clause 58 and Schedule III and IV of the LLP Act. Form 18 needs to be filed with the registrar along with Form 2 for such conversion.
Ans: No. The essential requirement for setting LLP is ‘carrying on a lawful business with a view to profit’.
Ans: A minimum of two partners will be required for formation of an LLP. There will not be any limit to the maximum number of partners.