How to Form a LLP Company in India
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The type of business structure you choose will have significant short- and long-term effects, so it's important to consider both the pros and cons carefully before committing. In this article, we'll dig into how to form a LLP company in India and discuss the differences between an LLP and an LLC.
The Limited Liability Partnership Consultant is a separate legal entity that offers limited liability to its partners. This means that partners' personal assets are not at risk in the event of a financial or legal dispute with the business. Additionally, transferring ownership to a new person is simple.
To begin forming an LLP, you'll need to gather the following documents. Then, submit them to the Registrar of Companies (ROC) along with the applicable filing fee.
Proof of Residence – Each partner will need to submit their proof of address. This can be any government-issued document, such as a driving license, bank statement, or passport. The document should contain the partner's name as it appears on their PAN card. If the name differs between the proof of address and the PAN card, the ROC may reject the application.
The LLP will also need to provide its registered office address. The ROC will accept either the LLP's residential address or a commercial office space. If the LLP is taking a commercial office on rent, it must submit a lease agreement and a no objection certificate from the landlord. If the LLP's address is outside India, the ROC will require a notarized or apostil led copy of the passport of each foreign partner.
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