Everything founders ask before starting LLP Registration. Answers reviewed by chartered accountants.
An LLP has lower compliance (no board meetings, no mandatory audit under thresholds) but cannot raise equity from VCs. Pvt Ltd is preferred for fundraising; LLP for professional firms and small businesses.
Minimum 2 designated partners (at least one must be a resident Indian). No upper limit. Individuals or body corporates can be partners.
Only if annual turnover exceeds ₹40 lakh OR capital contribution exceeds ₹25 lakh.
A contract between the partners defining capital contribution, profit sharing, rights, duties and exit terms. It must be filed with the MCA in Form 3 within 30 days of incorporation.
Typically 10–15 working days from DSC issuance, assuming name approval on first attempt.
Yes, an LLP can be converted to a Private Limited Company under Section 366 of the Companies Act. We handle the full conversion process.