Partnerships is one of the most widespread business structure for businesses which includes more than one proprietor. A large number of businesses, varying from retail stores to bookkeeping firms, are controlled as partnerships. A business partnership is a business structure which is constructed for earning profits and are usually governed by two or more persons. A partnership firm can any have any number of members but it should have a minimum of two members . A business partner is a co-holder of the business.
In most of the cases business partnerships are general partnerships, which means that all partners have accountability for the business and limitless liability for the financial obligations of the business. This means that common partners share both the profits and the losses of the business.
Sujata Associates is the leading business consultancy firm in the market which offers services like LLP registration in India. In addition to LLP registration, Sujata Associates also offers a wide range of business registration services like private limited company registration, one person company registration , proprietorship registration , digital certificate and etc . The usual time taken to complete a LLP registration is about 15 – 20 working days, subject to government processing time and client document submission.
In contrast, corporate shareholders have to elect a board of directors under the laws of various state charters. The board organizes itself (also under the laws of the various state charters) and hires corporate officers who then have as “corporate” individuals the legal responsibility to manage the corporation in the corporation’s best interest. A LLP also contains a different level of tax liability from that of a corporation.
LLP Registration Kolkata
Limited Liability Corporate (LLP) is a body corporate having separate legal identity. In India, LLP is governed by the Limited Liability Partnership Act, 2008. A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It therefore exhibits elements of partnerships and corporations. In an LLP, one partner is not responsible or liable for another partner’s misconduct or negligence.
This is an important difference from the traditional unlimited partnership under the Partnership Act 1890 (for the UK), in which each partner has joint and several liability. In an LLP, some partners have a form of limited liability similar to that of the shareholders of a corporation. In some countries, an LLP must also have at least one person known as a “general partner” who has unlimited liability of the company. Unlike corporate shareholders, the partners have the right to manage the business directly.
The following documents are acceptable address proof for Indian Nationals.
- Pan Card of the Directors.
- Aadhaar/Voter Card/Passport of the Directors
- Passport size photo of the Directors.
- Savings Bank statement of all the Shareholders.
- If rented then the Rent Agreement.
- If Owned Tax Bill Of the Premises
- Electric Bill Of the Premises.
- Noc From the landlord, if rented
Company Compliance after Incorporation
LLP registration processing cost
While we are focusing on solving the Human Resources of the businesses, their owners can have more time and focus on their core responsibilities.