The term “LLP” simply refers to Limited Liability Partnership, a unique business model where there exists more than one owner for a particular business but each owner has to bear the sole responsibility for his personal business debts or any malpractices.
LLP firms can be formed by
registered professionals for practicing accountancy, law or engineering. LLP’s
are becoming increasingly popular over corporations or LLCs because one partner
does not wish be held accountable for any lawsuit filed against another
partner’s debts or inappropriate actions.
Steps to set up
a LLP company in UK/US- the key points:
·
Selecting a company name:
The name should be unique that is it should not bear any resemblance or
similarity with another registered organization.
·
Should have a registered physical address: This address is publicly available; any sort of
communication like notices and letters would be sent to this address.
·
Details of the members of an LLP: According to Government guidelines, at least two people are
required to form an LLP; their complete details should be available for
reference.
·
Making the LLP agreement:
A clear agreement stating the responsibilities of the members, their profit
sharing and the policies of entering or leaving an LLP should be made with
signed consent of the members on the document.
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| Register a LLP Company |
How to easily register
a LLP company?
There are three easy ways of
registering an LLP:
1. Online
registration: By filling an online
registration form you can get your company registered the same day by paying
higher fee.
2. By post: The form can also be filled in person and sent by post for
approval.
3. By hiring an agent: Human agents are reliable and affordable to do the job if
you have time constraint.
