Hello Startup – Consultancy Services by Kartgen Infotech LLP
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LLP is a form of partnership that is registered under the Limited Liability Partnership Act, 2008 where liabilities of all the partners are limited to the extent of contribution bought by them. It helps owners to limit their liabilities while enjoying the advantages of a limited company which is an edge over a traditional partnership firm.
No partner is liable on account of unauthorized actions of other partners, thus individual partners can safeguard them from joint liability arising from misconduct of other partners. LLP as an organization is mostly preferred by professionals, micro and small businesses.
No of Partners | 2 individuals (Nominee if a body corporate is Partner) |
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DSC (Digital Signature) | DSC Required for all the Designated Partners |
Capital | Each partner has to contribute towards capital of LLP. |
Address Proof | Address proof for the office of LLP. |
Features | Proprietorship | Partnership | LLP | Company |
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Definition | Unregistered type of business entity managed by one single person | A formal agreement between two or more parties to manage and operate a business | A Limited Liability Partnership is a hybrid combination having features similar to a partnership firm and liabilities similar to a company. | Registered type of entity with limited liability to the owners and shareholders |
Ownership |
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Registration Time | 7-9 working days | |||
Promoter Liability | Unlimited Liability | Limited Liability | ||
Documentation |
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Governance | – | Under Partnership Act | LLP Act, 2008 | Under Companies Act,2013 |
Transferability | Non Transferable | Transferable if registered under ROF | Transferable | |
Compliance Requirements |
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PAN is mandatory for Indian Partners.
Passport is mandatory for Foreign Partners.
Aadhaar is mandatory for Indian Partners
Any document issued by a Foreign Government having photo and address of the Partners
Latest bank statement of the Partners
Latest telephone bill for the registered office premises. Electricity bill preferred.
Latest mobile bill for the registered office premises. Electricity bill preferred.
If the proposed Partners is another company or legal entity.
If the proposed Partners is another company or legal entity.
If the proposed Partners is another company or legal entity.
Recent Utility bill of the place of Business.