LLP is a partnership with features of a company like limited liability.
Limited Liability Partnership (LLP) registration is the best business registration structure due to its distinguish feature like limited liability and other which is not exist in traditional partnership firm registration and available for company so Limited Liability partnership (LLP) is the combination of traditional partnership firm and private limited company and LLP consist have good feature of both the business structure as discussed above. Limited liability means where your liability is restricted to the contribution you made in LLP also another partner will never be liable for the negligence of a partner so Limited Liability partnership (LLP) registration in mumbai increase popularity to business owners who want to retain limited liability with less compliance and keep more transparency. Limited Liability partnership registration is very easy through online process and after post registration need to go very less companies as compare to private limited company.
Self attested copy of PAN Card
Self attested copy of Voter ID/Passport/Driver License (Any One)
Latest Bank Statement/Telephone or Mobile Bill/Electricity / Gas Bill (Any One and not older than 2 month)
If Owned Than Sale Agreement and one Utility Bill/or NOC of owner
Minimum 2 Designated Partner Required
Minimum 2 Partner Required
Designated partner and partner can be the person
The limited liability partnership has separate legal entity means the Limited Liability partnership and partners are distinct from each other. LLP possess a feature of company and partnership firm. All the partner have limited liability and one partner is not responsible or liable for another partner s misconduct or negligence. LLP is managed as per LLP agreement.
Latest Bank Statement
Registered office is the address which are registered with concerned ROC and it can be happened in commercial as well as residential premises and documents required for that is-
NOC From Owner
Any address can be provided as the LLP registered office address for the incorporation purpose Howeverthe consent of the owner is must for the using the property for business purpose
An individual or body corporate may become a partner in LLP. LLP must have at least two individuals as Designated Partners and at least one of the Designated Partners must be resident in India. A body corporate partner of the LLP can nominate an individual as a Designated Partner.
Following two Statements needto be filed each year .
1) Statement of Account and Solvency
2) LLP Annual Return
As per the Limited Liability Partnership Act, 2008 there is no compulsion to contribute a minimum capital for a partner and if you fix any capital in LLP agreement than the partners can contribute this capital in the form of tangible, movable or immovable or other benefit to the LLP and no need to transfer fund in bank account. rn
Only the LLP whose turnover exceed Rs. 40 Lakh or whose contribution exceed Rs. 25 Lakh are required to get their accounts auunually audited by any Chartered Accountant in practice. So, all other LLP are exempted from mandatory audit of their accounts.
It is totally depends on the requirement that what you want to do. If single person doing business and are not going to raise any outside investment for at least 3 years then OPC is best. Or if you are planning to raise funds then Private Ltd registration is best option.
LLP is preferred by Lawyers, Doctors, Designers and other professionals.