A corporate business vehicle that enables professional expertise and entrepreneurial initiative to combine and operate in a flexible, innovative and efficient manner, providing benefits of limited liability while allowing its members the flexibility for organizing their internal structure as a partnership. A limited liability partnership is a special business structure that provides protection for individual partners against the negligence of other partners within the organization LLP company has both Limited Liability features of a Private Limited company and the flexibility of a Partnership firm LLP form of structure is mostly preferred by Professionals, Micro Small and medium businesses that are family-owned or closely-held.
It is very easy to register this type of business as very few documents are needed. The required documents include:
Registration of Limited Liability Partnership takes the shortest time and can be completed within a min. of 10-12 working days. Despite registration taking the shortest time possible, this solely depends on government procedures and approvals during the time of your registration.
The Government’s registration fee starts at Rs.1500 while professional fees start at Rs.7500 and the variance would depend based on the type of business, number of employees and location of the business and even the requirements to be met while registering your particular business.
Rajesh M & Company is a Hyderabad-based chartered accountants’ firm providing auditing, accounting, taxation and other financial services.
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