Limited Liability Partnership (LLP) is a newly introduced corporate entity type in India aimed at small and medium-sized businesses. The benefits of an LLP vs. Private Limited Company-Easier to maintain and low registration fees. This makes an LLP a first choice to many small businesses in India.
LLP Formation
An LLP formation is much similar to that of a Private Limited Company. in terms of incorporation procedure. A minimum of two Partners are essential to start the LLP formation procedure and a registered office location is required within India. It is important to remember that FDI in LLP is allowed only with the prior approval of the Reserve Bank of India (RBI). Therefore, it is recommended that NRI’s and Foreign National promoters opt to incorporate a Private Limited Company, where 100% FDI is allowed under the automatic route.
LLP Formation Documents Required
To register an LLP in India, the following documents are required:
The PAN Card of the Partners and the Address Proof the Partners are required to start the LLP formation procedure. The documents pertaining to the Registered Office of the LLP can be submitted after obtaining name approval for the LLP from the Registrar of Companies.
