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A Limited Liability Partnership should have at least two Partners and a LLP can have quite a few Partners.
The assigned Partner should be a characteristic individual who is over 18 years old. LLP Act 2018 permits a far off public including Foreign Companies to join a LLP in India, gave something like one designated partner is Indian.
A LLP can be begun with any measure of cash there is no such least necessity. A partner might contribute both tangible and intangible property.
A DSC is useful in recognizing the sender or the underwriter electronically. The Ministry of Corporate Affairs (MCA) has made it required for every one of the assigned accomplices to apply with the Digital Signatures.
Assigned Partner Identification Number is a one of a kind recognizable proof number that is allocated to all current and proposed Designated accomplices of a LLP. Every one of the present or proposed Directors should have a DPIN.
Assigned Partner Identification Number is a one of a kind recognizable proof number that is allocated to all current and proposed Designated accomplices of a LLP. Every one of the present or proposed Directors should have a DPIN.
A NRI can be an assigned partner in a Limited Liability Partnership assuming that he has a Designated Partner Identification Number. Be that as it may, something like one Designated Partner in the LLP should be an resident Indian.
FDI is permitted under robotized course in a LLP by the Foreign Investments Promotion Board (FIPB). Note: Foreign Institutional Investors and Foreign Capital Investors are not permitted to put resources into LLPs.
A current association firm or a Company that is unlisted can be changed over into a LLP. This transformation into a LLP acquires many advantages.
For the Partners
1. PAN or Passport
2. Any Identity proof
3. Bank statement Registered office verification
4. NOC from the landowner to utilize the premises of the registered office
5. Any service bills of the premises which are at least two months.
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Features | Proprietorship | Partnership | LLP | Company |
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Definition | Unregistered type of business entity managed by one single person | A formal agreement between two or more parties to manage and operate a business | A Limited Liability Partnership is a hybrid combination having features similar to a partnership firm and liabilities similar to a company. | Registered type of entity with limited liability to the owners and shareholders |
Ownership |
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Registration Time | 7-9 working days | |||
Promoter Liability | Unlimited Liability | Limited Liability | ||
Documentation |
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Governance | - | Under Partnership Act | LLP Act, 2008 | Under Companies Act,2013 |
Transferability | Non Transferable | Transferable if registered under ROF | Transferable | |
Compliance Requirements |
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