- LLP must have at least 2 Partners who are individuals and at least one of them shall be resident in India;
- Prior consent is required of Individual designated Partners;
- Private company, maximum number of members can be 200, except for OPC;
- Every LLP name ends with a word "LLP" or "Limited Liability Partnership"
- There is no Limit of designated partners in LLP;
STEPS TO BE TAKEN TO GET A LLP FORMATION:
- Select, in order of preference, at least one suitable name upto a maximum of six names, indicative of the main objects of the company.
- Apply to the concerned ROC to ascertain for reservation of name in LLP EFORM - 1 and the digital signature of the applicant proposing the LLP has to be attached in the form. If proposed name is not available, the user has apply for a fresh name on the same application.
- After the name approval the applicant can apply for Formation of the new LLP by filing the required forms (that is LLP EFORM - 2 Incorporation Document and Subscriber's Statement, within 3 Months from the date of name approval.
- Submit the FORM LLP EFORM - 2 after attaching the digital signature.
- After processing of the Form is complete and LLPIN is generated obtain Certificate of Incorporation from ROC within 14 days from the date of filing the Documents.
- After obtaining the certificate of incorporation of LLP, submit the LLP agreement in LLP EForm-3 within 30 from the date of formation of LLP as per Section 23 of LLP Act, 2008.
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