India Limited Partnership

Limited Liability Partnership (LLP) is a new corporate structure that combines the flexibility of a partnership and the advantages of limited liability of a company at a low compliance cost. In other words, it is an alternative corporate business vehicle in India that provides the benefits of limited liability of a company, but allows its members the flexibility of organizing their internal management on the basis of a mutually arrived agreement, as is the case in a partnership firm.

Owing to flexibility in its structure and operation, it would be useful for small and medium enterprises, in general, and for the enterprises in the services sector, in particular. Internationally, LLPs are the preferred vehicle of business, particularly for service industry or for activities involving professionals.

 

Key Features of India LLP

India LLP

Corporate Details

General

  • Type of Entity

Limited Liability Partnership

  • Type of Law

Common English  Law

  • Registered Office in India

Yes

  • Shelf company availability

No

  • Our time to establish a new company

2 months

  • Corporate Taxation

0%.

  • Access to Double Taxation Treaties

No

  • Withholding tax payable to shareholders

20%

Share capital or equivalent

  • Standard currency

Indian Rupee.

  • Permitted currencies

Any

  • Minimum paid up

$ 1

  • Usual authorized

Directors

  • Minimum number

N/A

  • Local required

Yes

  • Publicly accessible records

Yes

  • Location of meetings

N/A

  • Corporate directorship allowed

N/A

Partners

  • Minimum number

2

  • Publicly accessible records

Yes

  • Corporate Partner  allowed

Yes

  • Location of meetings

Anywhere

Company Secretary

  • Required

N/A

  • Local or qualified

N/A

Accounts

  • Requirements to prepare

Yes

  • Audit requirements

No

  • Requirements to file accounts

No

  • Publicly accessible accounts

No

Other

  • Requirement to file annual return

Yes

  • Migration of domicile permitted

No

  • Limited Liability entity

Yes

 

Tax treatment

The Indian LLP is tax exempted but there is a 20% withholding tax payable by shareholders.

Duration for set up the partnership

Two months.

Distinctive advantages of India LLP

  • Operating Business in India is Cheaper for foreign Entrepreneurs.
  • India economy presents massive untapped market potentials. 

 The Valsen Advantage

  • Speedy, Efficient and consistent Services.
  • Relentless effort to obtain bank accounts.
  • Expert advice on structuring options.
  • Dedicated ongoing compliance support.