To register an LLP, there should be a minimum of two partners. The first partner should execute the incorporation documents for registering the LLP and the First LLP agreement.
An LLP should have a minimum two ‘Designated’ partners who are individuals and at least one of them should be resident in India. Only individuals can be designated as partners in an LLP. Where a corporate body is one of the LLP partners, it should nominate an individual as a Designated Partner.
Entities permitted to operate as partners in an LLP include:
- Companies incorporated in and outside India;
- LLPs incorporated in and outside India; and
- Individuals residing in and outside India.
An individual partner, who is an Indian National, should have a Permanent Account Number (PAN) allotted by the Income Tax Department.
Director Identification Number (DIN):
An individual should hold a valid DIN to become a Designated Partner of an LLP. A DIN can be obtained by filing an online application supported by valid identity (PAN card) and address proof documents, validated by professionals.
Electronic Filing and Digital Signature Certificate:
All filing including DIN applications are made through the MCA online application system, appended with a valid Digital Signature Certificate (DSC). One of the Designated Partner should have a valid digital signature to submit online applications for LLP Registration.