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Upper Hands

Founderย โ€ขย 5m

Tarun Suthar

ย โ€ขย 

The Institute of Chartered Accountants of Indiaย โ€ขย 4m

go for LLP, if you need any help for registration or anything, dm

Samanth Shetty

Be yourselfย โ€ขย 4m

Why do you suggest LLP ? Any particular reason ?

Tarun Suthar

ย โ€ขย 

The Institute of Chartered Accountants of Indiaย โ€ขย 4m

Its easy to setup with minimum cost. and can be converted to pvt ltd further.

Samanth Shetty

Be yourselfย โ€ขย 4m

According to your post everyone would open LLP if it was that beneficial. But in reality it's not as good / perfect for start-up has a lot of disadvantages. 1. You need minimum 2 partner 2. You can't raise funds for LLP unless and until you add them

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Tarun Suthar

ย โ€ขย 

The Institute of Chartered Accountants of Indiaย โ€ขย 4m

1. You also need 2 members for a pvt ltd company. 2. This is a myth, LLP can raise funds, but at certain point its restricted. 3. It's easier to dissolve an LLP easier compared to pvt ltd. 4. for, LLP, or Pvt Ltd they can't issue public offer, they

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Samanth Shetty

Be yourselfย โ€ขย 4m

1. You need 2 members in Pvt ltd not 2 partners. 2. That isn't a myth it's an experience lol. Ask anyone how many have raised with LLP let's see. It's not possible to raise funds from Angels / VC's by LLP. 3. No it isn't easier to dissolve an LLP com

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Tarun Suthar

ย โ€ขย 

The Institute of Chartered Accountants of Indiaย โ€ขย 4m

Yes, I agree, some sort of restriction, but the compliance is less. It's great for some types of businesses getting started. And it totally depends on it. My dad usually recommends LLP.

Samanth Shetty

Be yourselfย โ€ขย 4m

For business it's fine I agree. But for start-ups a big no because of IP itself. I know that in India IP has no strong protection but still LLP IP isn't easy

Tarun Suthar

ย โ€ขย 

The Institute of Chartered Accountants of Indiaย โ€ขย 4m

yep, he asked for his ecommerce business so, LLP or OPC would be fine, even i am incorporating my startup as pvt ltd.

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