3) Form 10: This document is req

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Forming a Limited Liability Company (llc)

Author: Rudradatta Rath

A limited liability company (LLC) is a legal business structure that separates as well as protects a business and its personal assets from those of
the owners of the company. Forming a limited liability company is easy compared
to other legal entities for business because of minimum paper work.

In case of limited liability companies share holders are not responsible for company debts. During the requisite time the directors may guarantee loans or
credit settled to the company.

Paper process for limited liability company formation (LLC):


Before forming or set up a limited company it is essential to be registered with companies house. Find few of the requirements for limited liability
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4) Form 12: The Form 12 is a declaration that the company has been abided by all the legal requirements for the incorporation of the company.

Advantages of Limited Liability Company:


1) LLC is not affected by the death and bankruptcy of members


2) It allows you to conduct business in the UK


3) It is formed by members not by share holders


4) Members can draw up their own contract


5) Flexible profit distribution among the members


6) It protect owners from personally liable for acts and debts of the LLC


7) There is no need to have an annual general meeting for share holders


8) Very less administrative paper process and record keeping


9) Profits taxed at the member level not at the LLC level


10) No Limited Liability Company member has personal liability

Article Source: Link


About the Author:


Rudradatta rath is an online marketing leader in Orisysinfotech.co, writing articles for Lincroft.co which is a leading online company formation and
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Posted 15 Sep 2018

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