HOW TO INCORPORATE LLP | LLP INCORPORATION | LLP KAISE INCORPORATE KAREIN
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This is an exhaustive video on the steps one needs to follow to incorporate a Limited Liability Partnership (LLP) Firm in India. A Limited Liability Partnership (LLP) is a form of partnership in which some or all partnerships, depending on the jurisdiction, have limited liabilities, thus exhibiting core elements of partnerships and corporations. The partners, having a form of limited liability, have the power to manage the business daily. They are shielded from joint liability, as they are not responsible for the independent or unauthorised actions of other partners. The tax liabilities of the LLP are different from that of a corporation. Thus, this form of business is more suited for businesses in which all investors wish to take an active role in management.
The LLP, which can continue to exist irrespective of the changes in its partners, is capable of entering into contracts and holding property in its own name. An agreement signed between the partners or between the partners and the LLP governs the mutual rights and duties of the partners within a LLP, which, however, is not relieved of the liability for its other obligations as a separate entity.
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