LLP

Description

Limited Liability Partnership (LLP) structure provides NRIs (Non-Resident Indians) with a flexible and attractive option for doing business in India. Here’s some information related to LLP for NRIs:

1. Legal Structure:
   • An LLP is a separate legal entity distinct from its partners. It offers limited liability protection to its partners, shielding their personal assets from business liabilities.
2. Ownership and Management:
   • NRIs can be both partners and designated partners in an LLP. They can collectively own and manage the LLP, participating in its day-to-day operations and decision-making processes.
3. Minimum Requirements:
   • At least two partners are required to incorporate an LLP, with at least two designated partners. At least one of the designated partners must be a resident in India.

When an NRI (Non-Resident Indian) wishes to form a Limited Liability Partnership (LLP) in India, they typically need the following documents and information:

1. Identity and Address Proof of Partners:
   • Copy of the valid passport of all partners.
   • Overseas residential address proof of partners (utility bill, bank statement, etc.).
   • Passport size photographs of partners.
2. Digital Signature Certificates (DSC):
   • Digital signatures are required for all designated partners. DSCs can be obtained from certified authorities.
3. Designated Partner Identification Number (DPIN):
   • DPIN is mandatory for all partners. If not already obtained, DPIN can be applied for simultaneously with the LLP registration process.
4. LLP Name Reservation Application:
   • Application for reserving a unique name for the proposed LLP. Multiple options can be provided in order of preference.
5. LLP Agreement:
   • Drafting LLP agreement defining the rights, duties, and responsibilities of partners and other aspects of the LLP. This agreement should be notarized.
6. Registered Office Proof:
   • Proof of registered office address such as lease deed, rental agreement, or utility bill along with a No Objection Certificate (NOC) from the landlord.
7. Consent of Partners:
   • Consent letters from all partners to act as such in the LLP.
8. Foreign Investment Approvals (if applicable):
   • Depending on the sector and nature of investment, approval from relevant authorities may be required for foreign investment.
9. Other Documents:
   • Any other documents as required by the Registrar of Companies (RoC) during the LLP registration process.