Register your new startup as One Person Company (OPC) with 2 DSC & DIN, Name Approval, COI, Drafting of LLP Agreement, PAN, TAN & Bank A/c opening support.
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One Person Company is a company that comprises a single person as a shareholder and can be contrasted with private companies. These companies get all the benefits of a private company such as they to have access to credits, bank loans, limited liability, legal protection, etc.
With the introduction of the Companies Act, 2013 the concept of the One Person Company came into existence to motivate the small traders and entrepreneurs who has the potentiality to start their own business and build up their own identity. The biggest advantages of starting a One Person Company are that only one person is required to start the business. An entrepreneur can be the master of their own domain in case of One Person Company (OPC). Wherein in case of Private Limited Company or LLP, minimum of two members is needed to be incorporated.
Ans: Any individual, or even a company or an LLP, can become a partner. However, only an individual can become a ‘designated partner’ in an LLP.
Ans: An LLP agreement is made between the partners and the LLP regarding the relationship between the individual partners in the LLP. An LLP agreement usually consists of management policies, the inclusion of new partners, policy-making strategies, and so on.
Ans: Typically, only start-ups that will not be looking for venture capital funding register LLPs. This is because venture capitalists only invest in private and public limited companies.
Ans: Yes, non-resident Indians and foreign nationals who are willing to enter into an LLP partnership can do so, provided they submit the necessary documents after getting them notarized by the concerned authorities. Although, at least one of the designated partners in an LLP should be an Indian national.