over 9 years ago
Suitability If just knowing the benefits isn’t sufficient enough, there are more reasons to get your company enrolled as an LLP, especially if any of the points below holds true for you: You run a small to large scale business You are in the service industry You own a businesses where different partners have different roles to play You own businesses where the investors can play the role of silent partners while the owners are in the driver’s seat You own a Startup Requirements for Formation An LLP can be easily formed if the following requirements are complied to: Two partners Of all the partners, two should be appointed as designated partners Registered office in India At least one partner should be a resident in India Can be formed only for profit making Registration Procedure of an LLP If the points above make sense to you, or in case, if you have already made the decision of going with an LLP, one has to know the procedure for the registration of an LLP (If you would like to read the LLP registration process in detail, Read: “LLP Registration Process”) we have covered the main points below: Deciding partners Obtain designated identification number Obtaining digital signatures of designated partners Checking name availability of the LLP Applying for name approval Preparing and filing incorporation documents Obtaining certificate of incorporation Preparing and filing LLP agreement Partners in an LLP Companies that are registered in or outside India and individuals’ residing in or outside India can easily become partners in an LLP.