KLC & Co. has a very experienced team which has handled the International Taxation and Transfer Pricing issues in foreign entities How To Register A Business in India. The clients include those from USA, UK, Holland, Japan, Korea and Canada
There are various modes / structures in which an entity abroad can register a business in India. The choice of the entity is a strategic decision. A structure may be favourable for one entity and may not be favorable for the other depending upon the nature of the entit . A graphical representation of the various modes / structures that can be used to register a business in India are given below
Steps / Process / Procedure for ( LLP) Limited liability partnership Formation in India.
The following steps are required to be undertaken for forming LLP in India
Step I : Deciding the Partners and Designated Partners
1.Atleast Two Partners are required for forming a LLP. These can be Individuals or Body Corporate through individual nominees.
2.The LLP should have Minimum of Two Individuals as Designated Partners, out of the total no. of Partners.
3.Atleast One Designated Partner in the LLP should be Resident Indian.
Step 2: Digital Signature Certificate:
1. As all the documents and forms required for incorporating an LLP in India to be filed electronically and under the signatures of Designated Partners
2 The signatures shall also be required for signing and filing of all relevant forms and documents to be filed, annually or event based after incorporation of the LLP, asking for approvals or as intimation
Step 3: Checking the Name Availability
1. The next step is to decide the name for the proposed LLP to be incorporated, anyone intending to incorporate an LLP has to evaluate his proposed name under the prescribed parameters and make an application in Form 1of Rule 18(5) of the Limited Liability Partnership Act 2008, for reservation of the desired name
2. The name of the limited liability partnership shall not be similar or identical with Company or LLP already registered in India
Step 4: Drafting of LLP Agreement
The next pertinent step is drafting of Limited Liability Partnership Agreement governing the mutual rights and duties among the partners and among the LLP and its partners.
The basic contents of Agreement are:
Name of LLP
Name of Partners & Designated Partners
Form of contribution
Profit Sharing ratio
Rights & Duties of Partners
Proposed Business
Rules for governing the LLP
Step 5: Certificate of Incorporation
After the Registrar is satisfied that all the formalities with respect to the incorporation has been complied , he will issue a Certificate of Incorporation as to formation of the LLP within maximum of 14 days from date of filing of documents. The Certificate of Incorporation issued shall be the conclusive evidence of formation of the LLP all details click register a business in India