Yes, a salaried person can become the Company’s Partner, but you need to go through the employment rules & ensure they allow you to do so.
Setup
Limited Liability Partnership (LLP)
in India
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Benefits of Registering a LLP
Limited Liability
The liability of partners is limited to their agreed-upon contribution to the LLP. Their personal assets are protected from business debts.
Pass-Through Taxation
LLPs are not subject to corporate tax. The profits and losses pass through to the partners and are taxed according to their individual tax brackets.
Ease of Operation
Offers more flexibility in management compared to companies and is generally easier to set up and maintain.
The Offering
What is included?
Free Consultation
Discussing your business goals and providing expert advice on the LLP formation process.
Drafting of LLP Agreement
Helping you draft a comprehensive LLP Agreement that defines the rights and responsibilities of partners.
Form Filling and Filing
Handling all the necessary paperwork for registration with the MCA.
Obtaining Designated Partner Identification Number (DPIN)
Assisting designated partners with obtaining their DPINs.
Liaison with Government Authorities
Ensuring smooth communication with the Ministry of Corporate Affairs (MCA).
Obtaining PAN and TAN
Helping you obtain a Permanent Account Number (PAN) and Tax Account Number (TAN) for your LLP.
Post-Registration Compliance
Guiding you on ongoing legal and tax compliance requirements for your LLP.
Post-Registration Compliance
Guide you on ongoing legal and tax compliance requirements.
Company Registration
Minimum Requirements For Registration
- Minimum 2 Directors & Shareholders
- LLP Agreement
- Registered Office Address
- At least 1 Director must be an Indian Resident
Banking Partners
Clarity
What a Limited Liability Partnership (LLP) in India?
A Limited Liability Partnership (LLP) in India is a relatively new business structure introduced in 2008. It combines features of a traditional partnership with the limited liability protection of a company. An LLP is a separate legal entity from its partners, similar to a company. It can own property, enter contracts, and sue or be sued in its own name.
A key advantage – the liability of partners is limited to their agreed-upon contribution to the LLP. Their personal assets are protected from business debts. LLPs offer more flexibility in internal management compared to companies. Partners have more control over the decision-making process as defined in the LLP Agreement.
| Feature | Private Limited Company (Pvt Ltd) | Limited Liability Partnership (LLP) |
| Minimum Number of Partners/Directors | 2 Directors (1 resident) | 2 Partners |
| Maximum Number of Members | 200 Shareholders | No upper limit on Partners |
| Transferability of Shares | Restricted by Articles of Association (AoA) | Defined by LLP Agreement |
| Management Structure | More rigid, governed by Companies Act | Flexible, defined by LLP Agreement |
| Tax Structure | Subject to corporate tax | Pass-through taxation (taxed on individual partners’ income) |
Documents Required
- Passport-sized Photographs of the directors.
- Identity Proof of Partners: PAN card for Indian nationals and passport for foreign nationals.
- Address Proof: Aadhar card, voter ID, passport, or driving license.
- Residential Proof: Recent utility bills or bank statements.
- Registered Office Proof: Rent agreement and NOC from the landlord if rented, or ownership documents if owned.
What do you get?
- DIN for Partners
- Digital Signature Token for Partners & 1 witness
- MOA + AOA
- LLP Agreement
- Incorporation Certificate
- Incorporation Master File
- LLP PAN Card
- LLP TAN/TDS
- Bank Account Opening Support
Frequently Asked Questions
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