Best LLP Formation Services

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What does LLP Stands for?
LLP stands for Limited liability partnership. LLP is combination of partnership and company form of entity,it provides legal benefits of both form of entity. In this there is limited liability of the partners and also gets benefit of the partnership. LLP is separate entity from its partners. K M GATECHA & CO LLP provides best LLP formation services in ahmedabad.

Best LLP Formation Services

Features of LLP are as follows:

  • Though there may be changes in partners LLP continues to exist.
  • There must be at least two designated partners in LLP formation.
  • LLP can purchase, sell, enter into contracts in its own name.
  • Partners in the LLP are only liable to their own contribution, however, LLP is liable to the extent of its full assets.

FAQS

What does the LLP agreement mean?

LLP agreement is an essential document for LLP formation. It is required to be submitted to the registrar of companies within 30 days of LLP incorporation. It contains details like rights, duties, obligations, capital contributions, profit sharing ratio, etc of partners and LLP.
 

What is the difference between LLP and a private limited company?

In LLP there is less compliance as compared to a private limited company. In LLP there is no limit on a maximum number of partners however in the private limited company there can be only a maximum of 15 directors.
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