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Ideal business structure for Small and Medium sized Enterprises going for Partnership Starting At Rs. 6,999 Onwards
LLP was launched in India by way of the Limited Liability Partnership Act, 2008. The main edge of a Limited Liability Partnership is one partner is not liable for another partner’s misconduct or negligence. LLP is favored by Professionals, Micro and Small businesses that are family-owned or closely-held.
Limited Liability partnership offers the benefit of limited liability to its owners and at the same time needs minimal maintenance. The owners of a private limited company have limited liability to creditors. In case of default, banks/creditors can only sell the company’s assets and not the personal assets of directors.
An LLP also gives limited liability protection for the owners from the debts of the LLP. Accordingly, all partners in an LLP enjoy a kind of limited liability protection for every individual’s protection within the partnership, related to that of the shareholders of a private limited company.
LLP Registration can be done through LegalRaasta in Delhi NCR, Mumbai, Bengaluru, Chennai and all other Indian cities.
Choose LLP because
· Dual advantages- Company and a Partnership
· No partner will be responsible for other partner’s misconduct
· Cheaper to incorporate than a private limited company
· Limits the liabilities of its partners
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