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Chennai : Formally known as Madras, it is the capital of Tamil Nadu. It is the 36 largest Urban Area by its population in the whole world. It attracts various tourist as they are having Chennai Central , Marina Beach , Madras High Court , TIDEL Park , Ripon Building , San Thome Basilica , Kapaleeshwarar Temple etc. It is having the Third largest expatriate population in India .It is also one of the largest municipal economies of the country. It is also selected to be one of the smart city under the smart city Mission
LLP Registration in Chennai The LLP i.e. Limited Liability Partnership is recognized by the Companies Act, 2013. LLP provides limited liability on the partners and hence the maintenance is also marginally less. One of the major highlights of registering as an LLP is that the cost is marginally less than the registration of a private limited company, which makes it a more preferred form of a company registration. The terms and conditions in an LLP are governed by the LLP agreement that the partners have entered into. The most noteworthy distinction in the LLP is that the two partners don’t have the liability for each other's actions; the point here is that the minimum number of partners in the LLP should mandatorily be two, and one of them should be a resident of India, irrespective of the fact that what the nationality of the other partner is. Hence, in conclusion, the whole point of entering into an LLP is to neglect the complexity of the other forms of companies, while having the same features and most importantly, having limited liability.
Reasons for LLP Formation in Chennai : LLP is the most preferred option of company formation since it limits the liability and is low in cost, in terms of registration. Most of the Startups prefer that their partnership formation is an LLP. The other reasons for LLP Formation in Chennai can be understood as the following –
The process of LLP registration is relatively different from the registration of other forms of companies, Company Vakil is a great platform for registration of LLPs, and they provide expert and professional services in this regard. However, the process for LLP registration can be understood as following:
We are familiar with the fact that LLP provides for an easy and convenient form of business operation, which is a mixed bag of both partnership and company, however, the following are the minimum requirements LLP Registration in Chennai –
There are certain mandatory documents that are required by the MCA for a successful registration of an LLP, these documents are required so as to complete the incorporation process, the following credentials are required along with the fee, for LLP Registration –
LLP Formation in Chennai has recently piqued a lot of interest in people, especially with the startups. The reason for the same lies in the advantages that an LLP registration has to offer:
It can take up to 15-20 days for LLP Registration, or maybe more depending on the application.
The Agreement should be drafted in 30 days from the date of incorporation.
The government fee for filing the DIN/DPIN is 1000 INR (for 2 partners)
The partners have to annually file the Form 8 & Form 11 with respect to internal management.
No, the CIBIL scores of the partners are individual
This is the most distinctive feature of the LLPs; the partners aren’t liable for any misconduct of their co-partner.
DPIN stands for designated partner identification number.
No Audit is required if the turnover is less than 40, 00,000 or if the capital investment is less than 25, 00,000
At least one partner of the said LLP Registration in india should be of domestic nationality.
No, the law doesn’t provide for any law, with respect to switching from LLP to PLC (Private Limited Company) and vice versa.
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