Limited Liability Partnership -FC

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Description

Foreign companies can only invest only in those sectors through LLP where 100% FDI is allowed, through the automatic route and there is no FDI-linked performance-related conditions like minimum capitalization etc.

An Indian company, having FDI, will be permitted to make downstream investment in an LLP only if both the company and the LLP- are operating in sectors where 100% FDI is allowed, through the automatic route and there are no FDI-linked performance-related conditions.

LLPs with FDI will not be eligible to make any downstream investments, which means LLP having FDI, cannot make further investment in LLP or companies engaged in any business, even though 100% FDI is allowed under those sectors.

Tax: Normal as applicable to LLP

List of Standard Documents required :

A. For Designated Partners

  1. Four Colour Photograph of the proposed partners
  2. PAN Card copy of the proposed Indian Partners.
  3. Identity proof* (Passport, Voter Identity Card, Driving License, Aadhaar Card)
  4. Address proof* (Bank Statement, Electricity Bill, Telephone Bill, Mobile Bill) must not be older than two months

*In case of Foreign Partners identity and Address proof to be Notarized by the Public Notary or Apostilled by the competent authority in the country it was issued.

B.  For Registered Address in India

  1. The registered document of the title of the premises of the registered office in the name of the company
  2. The notarized copy of lease/rent agreement in the name of the company along with a copy of rent paid receipt not older than one month.
  3. A No objection certificate from the owner of the premises.

C. Indian and Foreign Partner

  1. Identity proof (Passport, Driving License, Aadhaar Card, Card, Bank Statement, government issued form of identification containing address) to be notarised/ apostilled and attested by Indian Embassy in home country
  2. Address proof (Bank Statement, Electricity Bill, Telephone Bill, Mobile Bill)

Q.1 What is the process to have LLP in India.

A. Following are the steps to have WOS /JOV in India

a. Deciding the Designated Partners and partners for formation of LLP

b. Obtaining Digital Signature Certificate of the Designated Partner(s)

c. Filing application to the Registrar of LLP for approval of the proposed name of the LLP.

d. Filing of Incorporation Documents with Registrar within 3 months from the date of receiving of Name Approval

e. Follow up and obtaining the Certificate of incorporation of LLP.

f. Filing of LLP Agreement

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