Contribution in Cash or Kind

There is no minimum capital requirement in LLP. An LLP can be formed with the least possible capital. Moreover, the contribution of a partner can consist of tangible, movable or immovable or intangible property or other benefits to the LLP.

Lower registration cost

The cost of registering LLP is low as compared to the cost of incorporating a company.

No requirement of compulsory Audit

All companies, whether private or public, irrespective of their share capital, are required to get their accounts audited. But in case of LLP, there is no such mandatory requirement. This is a significant benefit. A LLP is required to get the statutory audit done only in the case that:-

1. The contribution exceeds Rs. 25 Lakhs, or

2. The annual turnover exceeds Rs. 40 Lakhs

To analyse the suitability of the LLP, please contact us.