LIMITED LIABILITY PARTNERSHIP
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Criteria for number of Partners = 2-Unlimited
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Minimum Director=1; Maximum=15
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Inviting funds by public issue-Prohibited
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Mandatory Filing Returns (ITR, Annual Returns, Financial Statements/Balance sheet, ROC intimation forms)
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Required to maintain Books of Accounts.
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Audit of accounts- Not Required
ADVANTAGES
Hold or Dispose Property
The Company can hold or dispose property in its own name .None of the member can claim any property of the company till the company is in existence.The legal authority (Ownership) over the property lies with the company.
Separate Legal Entity
Separate juristic person i.e., the members and the company are distinct from each other .The shareholders/members will not be liable for the act which has been done on company’s name. Their creditors and contracts entered by the company can bind the company not their members.
Perpetual Sccession
It has unlimited existence (going concern) till it has been dissolved by the members. Its existence will not depend upon the death /incapacity of the members.
Capacity to sue and be sued in its own name
The company can be sued in legal forums, tribunal for the deeds done by it. And the company can sue any party and send legal notice in its own name.
APPLICATION PROCESS
Apply for DSC (Digital signature certificate) with us in case you are not having one.
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the proposed name/s and objects of the LLP to be incorporated
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following self attested documents:
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PAN CARD
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IDENTITY PROOF – Self attested copies (KYC) Voter Id/ Driving License/ Passport of partners.
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ADDRESS PROOF –Bank Statement/ Electricity Bill/ Telephone Bill/ Mobile Bill (less than 2 months old )
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ADDRESS PROOF OF THE PROPOSED REGISTERED OFFICE- Conveyance/ Lease deed/ Rent agreement etc. along with rent Receipts.
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NOC from owner of the Property.
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COPY OF UTILITY BILLS OF THE PROPOSED REGISTERED OFFICE (not older than 2 months)
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Passport sized photograph of partners.
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Reservation of Name -[2-5 DAYS for approval]
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Once name is reserved, preparation of other required documents shall be start from our end- shall be sent to the client who shall send back the signed copy of the same to us.
Now sit back and relax…. We will take care of the rest [7-10 DAYS for COMPLETION OF REST]
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PAN & TAN shall be delivered at the address mentioned and we will provide you Your Company’s Certificate Of Incorporation along with its MOA and AOA.