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Limited Liability Partnership
Limited Liability Partnership (LLP) is a form of partnership in any kind of business enterprise, where all the participating members have limited liabilities. This means that no single partner is responsible for the losses, negligence and/or misconduct of any other partner. Since all partners have limited and not total responsibility, this is known as Limited Liability Partnership. Unlike shareholders, partners possess the rights to manage the business as well. Owing to these characteristics, it can be said that LLPs seem to show characteristics of both corporations and partnerships.
Documents Required for LLP Registration
There are two sets of documents that will need to be submitted for the LLP registration i.e. documents required of partners and the LLP documents.
Documents of Partners
- Identity proofs and PAN cards of all partners.
- Address Proofs of partners that includes Voter ID, passport or driving license.
- A passport size photograph against a white background.
- Passports of NRIs and foreign nationals who wish to become partners in an LLP.
Documents of LLP
- A proof of the registered office of address needs to be submitted at the time of registration or within a time span of 30 days of the incorporation of the LLP. In case, the registered office is a rented facility, an NOC from the landlord is necessary. Additionally, at least one proof of residence will need to submit such as utility bills that are no older than 2 months.
- A Digital Signature Certificate (DSC)
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Alternate Links for Limited Liability Partnership PDF
You can also visit the official / source website to download the PDF from following links: http://www.mca.gov.in/
How much time does it take to register an LLP?
The total time for registering an LLP is approximately 15 days.
How much does it cost to register an LLP?
Registering for an LLP costs from Rs. 2500 – Rs. 6000 depending on the number of partners and the capital contribution.
What is the membership limit for an LLP?
The minimum members should be 2 whereas there is no upper limit of members in LLP.