Limited Liability Partnership (LLP) was introduced in India by way of the Limited Liability Partnership Act, 2008. It is a partnership in which some or all partners have limited liabilities. In an LLP, each partner is not responsible or liable for another partner's misconduct or negligence. . With an easy incorporation process and simple compliance formalities, LLP is preferred by Professionals, Micro and Small businesses that are family owned or closely-held. Some of its beneficial features are:-

Separate Legal Entity
The LLP and partners are distinct from each other.

Less Restrictions And Compliances
Less restrictions and compliances are applicable on LLP as compared to company.

Can Sue And Be Sued
A LLP as a legal person can sue in its name and be sued by others. The partners are not liable to be sued for dues against the company.

Audit Not Required
A LLP does not require audit if it has less than Rs. 40 lakhs of turnover and less than Rs.25 lakhs of capital contribution. Therefore, LLPs are ideal for startups and small businesses that are just starting their operations and want to have minimal regulatory compliance related formalities.
Entities Registration
Proprietorship
Partnership
Limited Liability Partnership
Company
Services
Corporate Advisory
Insolvency & Bankruptcy
NBFC Advisory
Secretarial Audit
Merger and Acquisition
One Person Company(OPC)
Private Limited Company
Public Limited Company
Nidhi Company
Producer Company
Section 8 Company
ESI Registration
GST Registration
Import Export Code
MSME Registration
Shops & Establishment Act
Business Plan
CMA Report
Credit Rating
Debt Equity
Term Loan
Working Capital Loan
Compliance Management
Patent
Trade Mark
Copyright
Copyright © 2012 www.armsandassociates.com. All Rights Reserved. Designed by Creative Synergy.