LLP Formations
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LLP Formations
LLP Formation (Limited Liability Partnership Registration)
What is LLP Formation?
LLP Formation refers to the legal registration of a Limited Liability Partnership under the Limited Liability Partnership Act, 2008. An LLP is a hybrid business structure that combines the flexibility of a traditional partnership with the limited liability benefits of a company.
It is an ideal choice for small and medium-sized businesses, startups, professionals, and consultants who want limited liability without complex compliance requirements.
In an LLP, each partner’s liability is limited to the extent of their capital contribution, and no partner is liable for the misconduct or negligence of another. LLPs enjoy a separate legal identity, can own property, enter into contracts, and continue to exist regardless of partner changes.
Benefits of LLP Registration in India
✅ Limited Liability – Personal assets of partners are protected
✅ Separate Legal Entity – LLP can sue or be sued in its own name
✅ Flexible Management Structure – No board of directors required
✅ No Minimum Capital Requirement
✅ Lower Compliance Costs than private limited companies
✅ Perpetual Existence – Independent of changes in partners
✅ Attracts Professional Firms & Consultants
✅ Easy to Convert to Private Limited Company
Who Should Opt for an LLP?
Professionals like Chartered Accountants, Doctors, Lawyers, Architects
Freelancers and Consultants working in partnerships
Startups and Small Businesses looking for flexibility and limited liability
Existing Firms or Partnerships seeking legal recognition and tax benefits
Documents Required for LLP Formation
📌 From Partners:
PAN Card
Aadhaar Card/Voter ID/Passport
Passport-size Photograph
Email ID and Mobile Number
📌 For Registered Office:
Latest Utility Bill (Electricity/Water/Gas)
Rent Agreement (if property is rented)
NOC from Owner (if rented)
Ownership Proof (if self-owned)