We Corpstore is one of the prestigious company offering Limited Liability Partnership registration in Madurai and Karur. We first understand our client’s requirements and provide guidance according to it. Limited liability partnership (LLP) is an alternative business form that provides the benefits of limited liability as present in a company and the flexibility of a partnership business. In other words, it offers advantages of both worlds by bringing simplicity in management similar to partnership firms and scope of expansion like that of a company. The biggest advantage of LLP over a private Limited Company is that there is less compliance requirement in comparison to a Company.
Moreover, LLP is governed by the limited liability partnership act, 2008. The minimum number of partners to incorporate an LLP is 2. There is no limit on the maximum number of partners of LLP. Among the partners, there should be minimum two designated partners who should be individuals, and at least one of them should be resident in India. The rights and duties of designated partners are overseen by the LLP agreement.
A Limited Liability Partnership can be registered in India with at least two persons, who shall act as the designated partners of the LLP. There is no limit on the maximum number of partners in an LLP form of business.
One of the designated partner of LLP should be resident in India. A person is said to be resident if he or she stays in India for at least 182 days during the preceding financial year irrespective of their citizenship.
There is no maximum limit on the capital investment in the LLP. However, the minimum capital cannot be less than Rs. 10,000/-
The proposed name of an LLP should not resemble to any existing company or LLP Name. Further you should also check the trademark registry to ensure that the name does not match with any registered or trademark applied.