ADVANTAGES & BENEFITS
WHAT DO YOU GET
QUESTIONS & ANSWERS
What is LLP?
Limited Liability Partnership is a corporate entity registered under Limited Liability Partnership Act, 2008. It is a form of partnership firm that enjoys limited liability. It is a hybrid form of a partnership that includes the features of a company. Compliances for a company are applicable to LLP.
How many partners can form an LLP? Is there any maximum limit?
As per LLP Act, 2008 a minimum of two partners can incorporate an LLP. There is no maximum limit for the partners.
What are the rights and duties of a designated partner?
The rights and duties of a designated partner are governed by LLP Agreement executed between them as per the Act.
Can a Foreigner become a partner in LLP?
Yes. Provided minimum one partner is required to be an Indian citizen and resident in a previous calendar year.