Establishing a wholly owned Limited Liability Partnership (LLP) in India as a foreign subsidiary requires meticulous planning and adherence to specific regulations. This guide outlines the steps and documents needed to set up such an LLP, the associated costs, and the post-incorporation compliances required.
Certificate of Incorporation
Board Resolutions authorising use of Name
Board resolution approving the incorporation of the subsidiary
Board resolution appointing authorised signatory
Identity Proof - Passport/Driving Licence
Address Proof - Bank Statement/ Utility Bills
Consent Letter
Photographs
Documents have to be notarised and apostilled by either Indian Embassy/ Ministry of home affairs from state in which Parent/ Foreign Designated Partner is located after translation
The total cost of establishing a foreign subsidiary LLP in India includes various expenses such as registration fees, legal fees, government charges, and professional fees. The exact cost varies based on factors like business structure, capital investment, and regulatory compliance. The government fees for an LLP with an initial capital of INR 1 Lakh are as follows (excluding professional fees):
Particulars | Cost (INR) | Cost (USD) |
---|---|---|
Name Application (Fee for RUN LLP) | 200 | $2.40 |
Incorporation (FiLLiP form) | 631 | $7.57 |
Stamp Duty on LLP Agreement | 5000 | $59.96 |
LLP Form 3 | 50 | $0.60 |
Total | 5881 | $70.53 |
Foreign Direct Investment - Limited Liability Partnership form-
Time Limit: - Not later than thirty days from the date of receipt of initial capital from partners.
After incorporation, the subsidiary LLP must adhere to several compliances:
LLP-2 filing is done at the time of disinvestment of Capital contribution or transfer of ownership in an LLP from a Non-Resident to Resident or Vice versa. The filing should be done within 60 days from the date of receipt of the amount of consideration.
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