AK (MD) 25 January 2011

Registration of business in India and requirements

Hello,

I have been running an Aviation consulting firm (service provider) as a Proprietor. Many at times, I have felt that the firm doesn't have a legal identity being a proprietorship. And I don't want to keep any partners in my business and neither I wish to go for making it a Pvt ltd company.

I would like to know the following:

Can I have any of my family member or say my wife as my business partner, thereby establishing a Partnership firm. Will a partnership firm get a leagal entity in India ??

Secondly, do we have registration of company in India under LLP or LLC ? If yes, then what are the process, requirement ? How and where to register a company under LLP or LLC in India ?

Please answer to both of my question above ...

Thanking in Advance !!!

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3 Replies

A V Vishal (Advocate) 25 January 2011

You can go for a LLP in India instead of a traditional form of partnership. The detailed procedure is attached as a .Doc file

Attached File : 59 59 procedure for incorporation of llp.doc downloaded: 286 times

AK (MD) 26 January 2011

Hello Vishal,

Thank you so much for your reply.

Why is that, the LLP is not that much used in India ?? Rather you may see the traditional Partnership firms more in business ??

What is the difference between the traditional Partnership Firm and a LLP ? What are the benifits or other negative parts ??

Can I register LLP with total and only 2 partners ? And if me being the 1st partner and my wife being the 2nd partner, will this work ??

Please detail you answers, as offcourse I need the best option keeping all benifits, but also was the registration to be hazzel free and something that can be done in very short time.

Please advice ...