Register a Limited Liability Partnership (LLP)

How many people are required to incorporate a Limited Liability Partnership?

A minimum of two people is required to incorporate a Limited Liability Partnership and the number of partners can exceed to any amount..

Can an LLP converted into Private Limited Company or a Public Limited Company?

No, right now Act does not permit this conversion. An Llp can't be converted into Private or Public limited but a Private or Public Limited Company can be converted into LLP.

How much money do you need to establish a LLP?

The money requirement for a LLP is not of a major concern during the process of registration. You can start a LLP with any amount of capital as you don't need to show proof of capital invested during the incorporation process.

What is the validity of incorporation of a Limited Liability Partnership?

The validity of a LLP depends upon the annual compliances that are needed to be met regularly. The moment the annual compliances are not delivered by the company, the LLP will become a Dormant and will be removed from the registration after a certain period of time.

Is LLP a better business type to raise funds from Private investors?

No LLP is not a good instrument to raise funds from Private investors. Investors invest in a company in lieu of the equity or stake but in LLP, the investors do not get to hold stake

Your company is in Delhi / NCR, I am in a different state. Can I still register a company?

Yes, the company incorporation process is online. You can email / upload us the required documents.

Can NRIs/Foreigners work as partners in LLP?

Yes, NRIs and Foreign nationals can work as partners in a Limited Liability Partnership. They need to obtain a DPIN(Designated Partner Identification Number). But the only condition is that among the other partners there has to be one of Indian origin/national.

What are the annual compliances required for a LLP?

There is a need of annual filing of LLP with Registrar each year. The turnover of LLP is much lesser about Rs. 40 lakh and also might have a capital of less than Rs. 25 lakh. In case of LLP the financial statements does not need to be audited.

What are the documents required to open an LLP?

The documents requirements are as follows

• Pan Card
• ID proof- Any one (Voter ID / Aadhar Card / Driving License / Passport)
• Address Proof- Any one (Electricity Bill / Telephone Bill / Mobile Bill / Bank Statement)

Can a Salaried person become the director in LLP?

Yes, a salaried person become the director in LLP, there are no legal bondages in this, but you have to go through with your employment agreement if it contains any restrictions on doing so.

Is an office required to open a company?

No You can open a company to your residential address there is no requirement to have a commercial place to open up a company

For Registered Office Address

• Rent agreement along with latest rent receipt (in case the premises are rented)
• House tax receipts (in case premises are owned)
• Electricity bill
• NOC from the Owner (Format will be shared once your company name approved)

How to choose the name of the company?

First ensure that company name is not similar to any other Private Limited,OPC, LLP or Public limited company. Also, do check If your first is not a registered trademark taken by anybody under the IP Act.

Also, make sure the name is not too generic to be accepted by the ROC land also, try not to use abbreviations, adjectives.

While choosing the name make sure that name should contain the objective of the business like if the objective is I then word is Technology, Technosoft, IT consultancy.