1. Required Minimum 2 Designated Partners 
2. More than Partnership and Less than Company 
3. Body Corporate and Benifit of Limited Liablitity 
4. Lessor Legal Compliances as compared to Company 
5. Less Favourable for VC and Angel Investment 
6. Can have unlimited number of Partners 
7. Tax Free Profit Sharing Among Partners

A Digital Signature establishes the identity of the sender or signee electronically while filing documents through the Internet. The Ministry of Corporate Affairs (MCA) mandates that the Directors sign some of the application documents using their Digital Signature. Hence, a Digital Signature is required for all Partners of a proposed LLP.

1. PAN of all Partners  2. Voter ID/ DL/ Aadhar Card of All Partners  3. Passport Photo of all partners  4. Latest utility bill (electric bill/telephone bill) and Rent Agreement or latest tax receipt/ownership deep of the property for the property to be used for a registered office.

Step 1- Application for Obtaining DSC (Digital Signature)  Step 2- Application for Obtaining of DIN (Director Identification Number)  Step 3- Application for Name Availability of the proposed LLP to MCA  Step 4- Filing of Incorporation Documents and Forms by Government  Step 5- Certificate of Incorporation  Step 6- Drafting of LLP Agreement  Step 7- Filing of LLP Agreement

The following types of Business entitles are available in India: 1. Private Limited Company 2. Public Limited Company 3. One Person Company 4. Producer Company 5. Section 8 Company 6. Limited Liability Partnership 7. Partnership 8. Sole Proprietorship

Yes, an existing partnership firm can be converted into LLP by complying with the Provisions of clause 58 and Schedule II of the LLP Act. Form 17 needs to be filed along with Form 2 for such conversion and incorporation of LLP.

Yes, any existing private company or existing unlisted public company can be converted into LLP by complying with the Provisions of clause 58 and Schedule IIIand IV of the LLP Act. Form 18 needs to be filed with the registrar along with Form 2for such conversion.

No, name of the LLP shall end with either ‘Limited Liability Partnership’ or ‘LLP’.Word ‘limited’ shall be allowed in name only within ‘Limited Liability Partnership’.