LLP Formations
LLP Registration
Limited Liability Partnership (LLP) in India exerted
influence after January 2009, making it an immediate success
with the startups and professional service providers. LLP formation,
governed by the Limited Liability Partnership Act, 2008, unites
the advantages of a partnership firm with that of a limited
liability company. It was started to implement a form of business
that is easy to maintain and to help owners by equipping them
with limited liability.
For LLP registration in India, MAG is the most reliable
and cost-effective service provider. We can help
you in registering your LLP if seeking for the best
LLP formation services in CG.
The leading edge of an LLP is one partner is not
responsible for other partner's wrongdoing or negligence. Professionals,
Micro and Small enterprises prefer to form LLP for their business.
LLP offers the benefit of limited liability towards owners
and at the same time, needs minimum maintenance. The owners
of a private limited company have limited liability towards
creditors. In case of any defaults, banks/creditors can only
dispose of the company's assets and not the personal assets
of the directors. An LLP also provides limited liability safeguard
for the partners from the liabilities of the LLP.
Benefits of Forming an LLP
There are many benefits to run a business by constituting
as an LLP which is outlined below:
- Dual advantages- Partnership with features like a company
- No partner can be responsible for other partner's misconduct
- Less expensive to incorporate than a private limited company
- Limits the liabilities of its partners
- Can raise funds from partners, banks and NBFCs
- Flexible agreement
