LLP registration

Ryot Associates provide LLP registration in Coimbatore, Tirupur, Erode, Namakkal, Chennai and all other places in Tamilnadu. Traditional partnership form of business has an unlimited liability. Liability of partners in the firm is unlimited, which means liability of the business may extended rights up to the personal assets of the partners. To solve the above problem in traditional partnership a concept of Limited Liability partnership emerges by way of the Limited Liability Partnership Act, 2008.

LLP is one of the easiest forms of business to incorporate in India with Limited Liability. LLP is mostly preferred by professionals and small micro businesses. There is no minimum capital requirement to start LLP.

Documents Required

  • Copy of PAN card or passport for Foreigners.
  • Copy of voter’s ID or driving license or Aadhaar card or any other identity proof.
  • Copy of current bank statement, telephone bill or gas bill which is not more than 3 months
  • Latest passport-sized photograph
  • Rental agreement along with electricity Bill Rent Agreement (if rented) / ownership proof of proposed registered office.
  • All documents must be self attested.

Advantages of Limited Liability Partnership

Limited Liability

Liability of partners of the LLP is limited only to their contribution by them to the LLP.

Separate Legal Entity

The LLP is a separate legal entity. Which means it is operated by its own name. The main advantage is that the one partner is not liable for another partner’s negligence. LLP is distinct from partners both can be sue each other.

No Audit requirement

LLP doesn’t have any audit requirement when turnover up to Rs. 40 Lakhs and contribution is less than 25 Lakhs.

Statutory compliance

Statutory compliance are very less when compared to the companies.