Limited Liability Partnership (LLP) - FAQ
Limited Liability Partnership (LLP) introduced in India by LLP Act, 2008 and though it is now nearly 7-8 year old Act, there are still many confusions around LLP and its basic concept. Like what is LLP, How to incorporate LLP, what are the advantages of LLP, Who can form it etc. Through this FAQ, I have tried answering few common queries, if you have any other query, you can send me an EMAIL with your query: FAQ on LLP (October 10, 2017) 1. What are the steps to incorporate LLP? Name reservation : The first step to incorporate Limited liability partnership (LLP) is reservation of name of LLP. Applicant has to file eForm 1, for ascertaining availability and reservation of the name of a LLP business. Incorporate LLP : After reserving a name, user has to file eForm 2 for incorporating a new Limited Liability Partnership (LLP). eForm 2 contains the details of LLP proposed to be incorporated, partners’/ designated partners’ details...