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Limited Liability Partnership (LLP)

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The purpose of Limited Liability Partnership is to provide a form of business organization, which provides Limited liability to the owners and at the same time it is simple.

The salient features of LLP are:


Limited Liability

The owner i.e. partners are liable to the extent of their contributions of the firm. In other words they are not liable to the outside creditors etc personally.

Simplicity

Compared to formation and running of a company, the formation and running of the LLP is simple. There is no specific requirement regarding members meetings, resolutions, annual meetings etc.

Minimum Number of Partners


Minimum number of partners required to form a LLP is 2 (two).

Maximum Number of Partners


There is no limit regarding maximum number partners.

Separate Legal Entity

LLP is a Separate Entity and it can own properties in its own name and it alone will be liable to its liabilities.

Perpetual Existence

A LLP is a juristic person and its existence does not depend on the partners. The partners of a LLP may keep changing from time, but it will not affect the LLP's continuity.

Capacity to Sue and be Sued

A LLP is a body corporate and it can sue and to be sued in its own.

Procedure formation of Limited Liability Partnership (LLP)

Membership

To incorporate a LLP minimum 2 persons are required. As discussed earlier there is no maximum number of persons who can join to incorporate LLP. The following persons can be partners in a LLP:

  • Individuals
  • Limited Liability Partnership.
  • Companies.
  • Foreign Company
  • Foreign Limited Liability Partnership.

Designated Partners

The LLP has to designate two partners and they will be liable for filing returns, documents etc. with the registrar.

Agreement


Agreement between the partners is the most important document in the case of LLP.

Application for Reservation of Name

Application for reservation of name with which the proposed LLP is to be registered is to be made the Registrar

Incorporation


To Incorporate a LLP, the incorporation document shall be filed with the Registrar.

Starting the Business


After the LLP has been registered, it can start the business.

Conversion


Existing Partnership firms and unlisted companies can be converted into LLP.

We provide our services to Limited Liability Partnership (LLP)

  • LLP Formation/Registration.
  • Periodical Legal Compliance.
  • Filing of Annual Documents.
  • Maintaining of Statutory record.
  • Income Tax PAN Registration.
  • Filing of Income Tax Return.
  • Representation/Liaison services with regulatory authorities
Address : Contact Person : Phone No. :
170/11, Bhikam Colony, Tigaon Road, Ballabgarh, Faridabad-121004,
NCR NEW DELHI, INDIA
Ms. Shubhra Agrawal (Director) +91-129-2242098
+91-129-2242099
Mobile No.: Email Id :
+91-9899527348
+91-9811636067
chsindia@gmail.com, info@chsindia.com