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OPC vs Limited Liability Partnership as a company is defined as per Companies act 2013 under Section 2(62) (OPC) which has only one person as a member. This article describes the One Person Company OPC vs Limited Liability Partnership
OPC has to be registered as a private company, thus all the provisions of a private company are applicable to OPC unless otherwise expressly excluded thereunder.
OPC can be converted into Public or Private Company and vice versa if it fulfills certain criteria.
The word ‘One person Company’ must be mentioned along with the name of the company.
A person who is resident of India i.e. the stayed in India during the immediately previous fiscal year must be for 182 days. However, the person who has formed OPC cannot be a member or nominee of other OPC.
The Limited Liability Partnership can be said to be the upgraded version of the Partnership. The Limited Liability Partnership Act 2008 was published in the official Gazette of India on 7 January 2009 and has been notified with effect from 31 March 2009
A limited liability partnership (LLP) can be defined as the partnership in which some or all partners are having limited liabilities and they carry on the business for a common objective.
LLP is mainly suitable for all those who are engaged in providing consultancy service. Partnerships (LLP), along with private and public limited corporations.
Each limited liability partnership (LLP) shall have a registered office where all communication or circular must be sent by the authorities.
Reservation of name shall be filed. Partners shall have to select the name of the proposed LLP (up
Filing documents necessary for incorporation
Provide the Detailed information about designated partners
Changes to limited liability partnership agreements, if any
Note: Stamp Duty need to be paid where necessary as per stamp Act.
Penalty: For non-Compliance, the penalty charged to LLP is 100 Rs. Per day.
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