Apply for LLP Registration Online at lowest fees in India by Online Legal India. Easy Process and Documentation. Register for Limited Liability Partnership Now!
LLP states Limited Liability Partnership and it is governed by the Limited Liability Partnership Act, 2008. It has got limited liability to the partners. In case of LLP, there are two partners involved, where there is no minimum limit of capital investment and one must be resident of India, i.e., he must be staying or have stayed for 182 days in India. LLP is often done for the small type of businesses in India. However, a LLP due to its nature does not allow to issue equity shares, thus it cannot raise money from the general public. One can register a LLP through us in a very less time.
The biggest advantage of LLP form of business over a Pvt Ltd Company is in the fact that there is less compliance requirement in comparison to a Company.
|Private Limited Company||One Person Company||Limited Liability Partnership||Partnership Firm||Proprietorship Firm|
|Act||Companies Act, 2013||Companies Act, 2013||Limited Liability Partnership Act, 2008||Indian Partnership Act, 1932||No specified Act|
|Number of members||2 – 200||Only 1||2 – Unlimited||2 – 50||Only 1|
|Separate Legal Entity||Yes||Yes||Yes||No||No|
|Statutory Audit||Mandatory||Mandatory||Dependent||Not mandatory||Not mandatory|
|Ownership Transfer ability||Restricted||No||Yes||No||No|
|Foreign Participation||Allowed||Not Allowed||Allowed||Not Allowed||Not Allowed|
While incorporating a LLP, there is requirement of minimum two partners and there can be maximum of many partners.
. Needs to be 18 years of age
. Must be a Natural person
. Must be of sound mind
. No limitation regarding citizenship or residency
There is no particular limitation for capital to start an LLP. Partner’s contribution can be for both tangible and intangible property as well.
An address where the registered office address is located is required to be mentioned, to start an LLP business.
There is no requirement to be present physically while the incorporation the LLP business.
Yes, NRIs can be a designated Partner in a LLP business after one gets its Designated Partner Identification Number (DPIN).