LLP Registration in Bangalore
LLP is the common way to form a business, in this form of structure two or more people associate together and operate a single business. There are enormous benefits to be enjoyed in LLP that is what the reason all people are prefers to choose this form of company. LLP provides greater flexibility that it allows the partners to choose how they wish to invest in the company. LLP has a decentralised management where all the owners want the same management rights. Tax benefits and the limited liability are the two biggest features in LLP.
Advantages of LLP:
Protection of personal assets:LLP protects the personal assets of the members if any one of the partners involved in any unauthorised acts, it doesn’t affect the other person. Individual partners are thus shielded from the other partner’s wrongful business decision or misconduct.
Perpetual succession:LLP has a separate legal existence so it is distinct from its partners and has a perpetual succession. Any changes in the partners would not influence the rights, existence or obligation of the LLP.
Limited Liability:There are multiple owners are involved in the business, so that all the risks of the business are spread out based on their investments and responsibilities. Thus a single person would not be responsible for all the business activities and issues.
Greater flexibility:It is the biggest feature of the LLP, since each partner has the ability to decide how much they want to contribute to the business and the how many partners they truly want to present in the business. Business meeting and consultations also can be decided based on the need.
Documents required for Limited Liability Partnership:
|Indian National as a partner of LLP:
|Foreign National as a partner of LLP:
|Documents of the registered office: