Limited Liability Partnership is a partnership in which all the partners have limited liability and enjoys all the features of a Partnership firm and a Company.
Any individual or company or LLP can become a partner including NRl and foreigner. However, only an individual can become a designated partner in an LLP.
Yes, NRIs and Foreign nationals can become partners/designated partner in a LLP. They need to acquire DIN/DPIN. However, at least one of the designated partners in an LLP should be an Indian national.
At least two partners are required for LLP . There is no restriction on maximum number.
Designated partners are responsible for fulfilling all the essential requirements involved in starting and running an LLP and at least two designated partners are required for an LLP.
LLP agreement is an agreement made between the partners regarding the relationship between the individual partners in the LLP. It generally consists of management policies, admission new partners, rights and obligation of partners, policy making strategies, and so on.
No, you needn’t to be available in person, LLP incorporation process is online. A scanned copy of documents can be sent to us via mail, and we will handle the rest.
Yes, LLP needs to comply with annual filling with ROC each year. In case LLP’s turnover is more than Rs. 40 lakh or Capital contribution is more than 25 lakh, then LLP needs to get accounts audited.
No, LLP is not a good form to raise funds from Private investors. Investors generally prefer to invest in a company.