Permissibility under Law

• LLP Act 2008 allows formation for any lawful business purpose

• There is no restriction on forming LLP for single project

• Objective must be clearly stated in the incorporation documents

• Project-based LLPs are legally valid and recognized

• Compliance is required irrespective of project duration

Structure and Agreement

• LLP agreement must define the project scope and terms

• Partners can outline roles specific to the single project

• Duration and exit clauses can be mentioned in agreement

• Profit sharing can be linked to project completion

• Agreement ensures clarity and legal safety for all partners

Registration and Compliance

• LLP must be registered with Registrar of Companies

• Must have minimum two designated partners at formation

• Compliance filings apply even for short-term LLPs

• PAN TAN and bank account setup are mandatory

• Annual returns must be filed until official closure

Winding Up After Completion

• LLP can be closed after project via voluntary winding up

• Form 24 can be filed for strike off if criteria are met

• All liabilities must be cleared before closure

• Consent of partners and affidavit submission is needed

• Closure must be recorded with the RoC formally

Advantages of Single Project LLP

• Limits liability of partners to their capital share

• Provides legal entity status for project execution

• Enables smoother contracts and licensing process

• Helps in transparent accounting for project finances

• Can be dissolved easily once project is over