Limited Liability partnership (LLP) was introduced in India by way of the limited liability partnership Act 2008. The basic premise behind the introduction of limited Liability partnership (LLP) is to provide a form of business entity that is simple to maintain while providing limited liability to the owners since its introduction in LLPs have been well received with over one lakhs registration in India. LLP is one of the easiest types of business to incorporate and manage in India with an easy incorporation process and simple compliance formalities LLP are preferred by professional’s micro and small businesses that are family-owned or closely held. Since LLPs are not capable of issuing equity shares LLP should not be chosen for any business that has plans for raising equity funds from angle investors venture capitalist Or private equity funds.
Documents required from the Partners
The following are the documents required for registration of LLP in India:
- PAN Card or passport for foreigners.
- Driver’s license or Aadhar card residence card or any identity proof issued by government
- Less than 3 months old bank statement or telephone bill.
Registered office proof
1. The authorization from the landlord (Name mentioned in the electricity bill or gas bill or water bill or property tax receipt or sale deed) to use the premises by the company as its registered office this is usually referred to as NOC from landlord: and
2. Proof of evidence of any utility service like telephone gas electricity Etc. depicting the address of the premises in the owner or documents which is not older than two months.