Legal Framework for Operation An LLP can be registered to operate as a real estate services firm or development entity It must be incorporated under the LLP Act, 2008, with its business object clearly defined in the LLP Agreement The name and activities must comply...
Filing Fee for Incorporation The ROC fee for incorporation is paid while filing Form FiLLiP The fee amount depends on the total capital contribution of the LLP LLPs with contributions up to ₹1 lakh pay a base fee of ₹500 As the contribution increases, the fee also...
Partner Contributions LLPs primarily raise capital through contributions from existing or new partners Contributions can be in the form of cash, property, assets, or services Each partner’s share must be recorded in the LLP Agreement The profit-sharing ratio and...
Entity Type and Incorporation The applicant must be a Limited Liability Partnership (LLP) incorporated under the LLP Act, 2008 Other eligible entities include Private Limited Companies and Registered Partnerships The LLP must be registered in India as a legal business...
Eligibility under Startup India Yes, an LLP can be registered under the Startup India scheme The LLP must be incorporated under the LLP Act, 2008, in India It should be a new entity, not formed by splitting or restructuring an existing business The LLP must be working...
Non-Operational Status The LLP must not be carrying on any business or commercial activity It should have remained inactive for a minimum period of one year The cessation of activity must be clearly stated and verifiable The LLP should not have any intention to resume...
Meaning of Strike-Off Strike-off is the process of removing the name of an LLP from the register maintained by the Registrar It is done when the LLP is no longer carrying on business or operations The process is initiated by the LLP through voluntary application or by...
Approval of Partners The decision to change the LLP’s name must be approved by all partners A formal resolution must be passed to authorize the name change The LLP Agreement must be checked or amended to allow such a change All partners must agree on the proposed new...
Types of Office Change Change can occur within the same city or local limits It can also involve a shift from one city, district, or state to another The process varies slightly depending on the nature and location of the change The LLP Agreement must permit such...
Grounds for Removal A partner may be removed voluntarily (resignation) or involuntarily (expulsion) Resignation must be given in writing to the LLP as per the terms of the LLP Agreement Expulsion is allowed only if it is specifically permitted in the LLP Agreement...