What you need to know about LLP

Limited Liability Partnership in South India is a concept that provides an organization both the ownership of a company with limited liability as well as allowing the members to access the benefits of partnership. It requires a minimum of two partners and can go up to as many. They will be required to sign up an agreement containing the rules and regulations of the entity where one’s action does not impact the financial, managerial and social role of the other.

Why is an LLP a Better Option?

The registration process of an LLP is lower than a usual Partnership firm.

The Limited liability concept keeps the partners out of unnecessary conflicts with debts. The transfer of ownership from the existing partners in case of any crisis is completely easy, provided the withdrawal is mutual. It can be established with minimum capital or investment. The partner is both a manager and an owner, so everyone in the partnership gets to take up responsibility. It is a boon for small scale start ups and entrepreneurs with affordable features.

Registration Process in a Glimpse

First and foremost, the documents containing the information of the partners are collected. These are again submitted to be verified using a Director Identification Number (DIN). These are approved by providing them with a Digital Signature Certificate (DSC)

A unique name, that does not resemble any existing corporate or non- corporate body is chosen by the partners simultaneously to make the LLP registration process easier. The most important part of the process is setting up the LLP agreement. This is a carefully curated files that displays the rules, duties and responsibilities that are laid between the partners and the organization. An LLP incorporation certificate is issued by the registrar after all the documents, agreements and approvals are verified. This is followed by the application of PAN (Permanent Account Number) and TAN (Tax Deduction and collection Account Number). Our efficient team of experienced staff will guide you in every step of bringing your business dream into a reality. Call us back for a free consultation. Explore the varied options that we offer before choosing us. Let us have the pleasure of serving you with a hassle- free registering experience.