LLP is similar to Private Limited Company respect with to compliance and operational requirements. Recognized as a separate legal entity than partnership can contract or involve in any legal proceeding in its own name. That enables the partners of an LLP to separate business liability or debts being recovered from their personal assets. Compliance requirement here is greater than regular partnership firms. However, compared to a private limited company structure, it is easier to incorporate and maintain.

Benefits of online LLP registration:

1.Limited liability

2.Separate legal entity

3.Flexible Agreement

4.Suitable for small business

Registration process:

● Obtain DSC and TIN

● Application for Name Approval

● LLP agreement

● LLP Incorporation certificate

● Apply for your PAN , TAN, and Bank Account.

Minimum Requirement for LLP:

● Minimum two partners, There is no limit on the maximum number of partners in a LLP.

● Minimum Designated Partner must be a Resident of India.

● DSC is mandatory for all Partners.

● Office Address Proof of LLP.The registered office is needed. Even a rented place can be treated as the registered office. (if you have the NOC from the landlord of the premises).