How to Form a LLP Company in India
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How to Form a LLP company in India is a question we often get from our clients. The answer is quite simple. An LLP is a business structure that provides the benefits of partnership and ownership along with some significant compliance advantages.
An Limited Liability Partnership Consultant is not only tax compliant but also provides protection from personal liabilities of the partners. There are other significant advantages including no limit on number of owners, exemption from compulsory audit and the ability to transfer ownership in case of death or resignation.
To set up an LLP you will need at least two designated partners who can be either individuals or a body corporate. It is advisable to have at least one of them residing in India. It is also possible to have Junior partners who work for the LLP but are not a part of the ownership. This helps scale the operations of the LLP by taking care of the detailed work and frees up the time for the partners to focus on new business.
Once the application is complete, it must be submitted to the Registrar of Companies (ROC) in your state. You will need to submit a proof of address for each partner which can be a driving license, bank statement, residence card or any other government-issued identity document. If the documents are in a language other than English, then they must be accompanied by notarised or apostil led translation copies. Proof of registered office has to be submitted as well. If the registered office is taken on rent, then a no objection certificate from the landlord will have to be provided.
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