LLP/Company Closure Company
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What is LLP/Company Closure
As an LLP is a creation of law, it can be closed by procedures established by statute only. The reasons for closure could be many.
A business may be required to be closed due to various reasons, like non-operation, closure of business, recurring losses, the passing of the key managerial person, the dispute among promoters, etc.
In case the LLP does not have liabilities or debts to pay it can be closed voluntarily by a unanimous decision of all the partners of the LLP and after that, an application can be filed with the registrar to strike down the name of LLP from its register. By closing an LLP which does not intend to do business, it is relieved of compliance burden.
This is very clear and simple process. You can do with the help of our professional team in very cheap cost.
LLP COMPANYDocuments Required
Procedure of LLP Company Closure
How To Close LLP
Following are the steps to Close LLP / Company.
Fill up a simple form on our website providing basic information
Our Executive will call you
Provide relevant documents online and we will file them with relevant authorities.
We will get your LLP/Company Close.
FAQ
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- LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership.
- The LLP is a separate legal entity, is liable to the full extent of its assets but liability of the partners is limited to their agreed contribution in the LLP.
- Mutual rights and duties of the partners within a LLP are governed by an agreement between the partners or between the partners and the LLP as the case may be. The LLP, however, is not relieved of the liability for its other obligations as a separate entity.
- Mutual rights and duties of the partners within a LLP are governed by an agreement between the partners or between the partners and the LLP as the case may be. The LLP, however, is not relieved of the liability for its other obligations as a separate entity.
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Atleast 2 partners are required for incorporating an LLP, No maximum limit is there
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yes, the LLP can be converted into private limited company OR any other form of business at any time
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Yes, the conversion of a partnership firm into an LLP
- Under “traditional partnership firm”, every partner is liable, jointly with all the other partners and also severally for all acts of the firm done while he is a partner.
- Under LLP structure, liability of the partner is limited to his agreed contribution. Further, no partner is liable on account of the independent or un-authorized acts of other partners, thus allowing individual partners to be shielded from joint liability created by another partner’s wrongful acts or misconduct.
- A basic difference between an LLP and a joint stock company lies in that the internal governance structure of a company is regulated by statute (i.e. Companies Act, 1956) whereas for an LLP it would be by a contractual agreement between partners.
- The management-ownership divide inherent in a company is not there in a limited liability partnership.
- LLP will have more flexibility as compared to a company.
- LLP will have lesser compliance requirements as compared to a company.
* Special Packages for Private Limited Company Registration
aBITE PACK
- DSC for Two Director
- DIN for Two Director
- Name approval of the Company
- MOA & AOA for the Company
- Certificate of Incorporation (COI)
- PAN Number for the company
- TAN Number for the company
- FREE ACCOUNTING APP
2 BITE PACK
- DSC for Two Director
- DIN for Two Director
- Name approval of the Company
- MOA & AOA for the Company
- Certificate of Incorporation (COI)
- PAN Number for the company
- TAN Number for the company
- FREE ACCOUNTING APP
- MSME REGISTRATION
- CURRENT ACCOUNT OPENING
Z BITE PACK
- DSC for Two Director
- DIN for Two Director
- Name approval of the Company
- MOA & AOA for the Company
- Certificate of Incorporation (COI)
- PAN Number for the company
- TAN Number for the company
- FREE ACCOUNTING APP
- MSME REGISTRATION
- CURRENT ACCOUNT OPENING
- GST REGISTRATION
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Compare Forms of Business
| Features | Proprietorship Firm | Partnership Firm | LLP | Private Limited Company | OPC |
|---|---|---|---|---|---|
| Limited Liability |
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| Separate legal entity |
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| Number of members | 1 | 2 – 20 | 2 – unlimited | 2 – 200 | 1 |
| Number of Directors /DP | N/A | N/A | 2 – unlimited | 2 – 15 | 1 – 15 |
| Foreign Investment (FDI) |
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| Ownership Transfer-ability |
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| Perpetual Existence |
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| Tax Benefits | GOOD | LOW | LOW | EFFECTIVE | EFFECTIVE |
| Statutory Compliance | VERY LESS | MINIMUM | AVERAGE | HIGH | HIGH |
| Formation Cost | 899/- | 5899/- | 6499/- | 6999/- | 6599/- |
| Call us:- +91 8764369079 | Know More | Know More | Know More | Know More | Know More |
