LLP Registration for NRI & Foreign National in India (2020) | Onfiling
For Foreigner

LLP for NRI & Foreign National

Overview

 

What is LLP for Foreign Nationals and NRI?

Foreign nationals who want to invest for a business in India have earlier done through a private limited company, as it allowed for 100% FDI under automatic route for many of the sectors. Now to allow NRIs and Foreign Nationals to freely invest in businesses in India and improve foreign investment, The government has now allowed 100% FDI in LLP under the automatic route.


Limited liability partnership is one of the new forms of business entity in India governed through the LLP Act, 2008. Earlier, investment in LLP by NRI or Foreign national required Government approval. It has made the process a long, cumbersome and expensive process. Thus company registration was preferred over LLP registration by NRIs and Foreign Nationals. As there is relaxation of FDI norms so the LLP registration can be done easily by NRIs and Foreign Nationals.

Is FDI in LLP allowed?

100% FDI in LLP is now allowed for businesses operating in sectors/activities where 100% FDI is allowed through the automatic route.

Registration Process for Foreign nations & NRI

Obtaining DSC

DSC must be obtained for the proposed partners of the LLP. It is necessary for obtaining the Designated Partners Identification Number (DPIN). For this purpose, the NRI or foreign national must submit the signed DSC application along with a notarized copy of passport and Address proof.

Name Approval of Company

After obtaining DPINs an application for reservation of name of LLP can be made to the MCA. The application for a name can obtain up to six names that are acceptable as per the LLP Act, 2008. The name should be unique as per the norm of the LLP Act and must not be similar to an existing company or LLP name.

Incorporation of LLP

On the basis of Name approval provided by the Government, now the partners can submit an application for incorporation of LLP to the Government along with the necessary documents including the subscribers’ sheet. After acceptance of an application, MCA will provide a certificate for incorporation.

LLP agreement filing

Now LLP agreement must be signed and filed by the Partners within 30 days. In case the LLP agreement is not filed then it may lead to the heavy penalty which accrues on a daily basis.

FAQS

If foreign national is residing outside at the time of incorporation, the all the incorporation documents with ID and address proof of foreign national must be notarized before the notary of the country of their origin and duly apostillised.
Yes, to allow NRIs and Foreign Nationals to freely invest in businesses in India and improve foreign investment, the Government has now allowed 100% FDI in LLP under the automatic route.
Yes, a foreigner can be a partner or even a designated partner in a Limited Liability Partnership and this includes foreign companies as well. A person resident outside India or an entity incorporated outside India shall be an eligible investor for the purpose of foreign investment LLP.
As prescribed by the MCA, LLP is required to file LLP Form 8 (Statement of Account & Solvency) and LLP Form 11 (Annual Return) annually. The ‘Annual Return’ is required to be filed within 60 days of close of the financial year and ‘Statement of Accounts & Solvency’ shall be filed within 30 days from the end of six months of the financial year to which it relates. Every LLP has to maintain uniform financial year ending on 31st March of a year.
As stated by the MCA and according to the LLP Act, 2008 Foreign LLP can establish a place of business in India by filing Form 27 giving the particulars of incorporation of foreign LLP, details of DPs/ partners of that foreign LLP and details of atleast two authorised representatives for complying with regulation of LLP act.
No, name of the LLP shall end with either “Limited Liability Partnership” or “LLP” only.

List of Documents

  • Passport Size Photo
  • Self Attested Residential Address Proof (Apostille & Notarized)
  • Valid Mobile Number and Email ID
  • Self Certified Passport ( Apostille & Notarized)
  • Digital Signature

Pricing Plan

BASIC ₹29899
One Time

  • 3 Class 2 Digital Signatures  & 2 DIN
  • 50+ Document Formats & Incorporation Kit
  • 1 RUN Name Approval 
  • Upto 10 Lakhs Authorized Capital 
  • Incorporation Fee , Stamp Duty &  Incorporation Certificate
  • Hard-copy Share Certificates
  • GST Registration & GST eWay Bill Software
  • PAN ,TAN & ICICI Bank Current Account
Get Plan

SILVER ₹17475
Quarterly

  • INCLUSIVE OF BASIC PACKAGE
  • FDI Reporting to RBI
  • Commencement of Business Certificate
  • Financial Statement & Board Resolution Preparation
  • Annual & Director's Report
  • 1 Year Dedicated Compliance Manager Support
  • MCA Annual Return Filing
  • Income Tax Return Filing
Get Plan

GOLD ₹19975
Quarterly

  • INCLUSIVE OF SILVER PACKAGE
  • Book keeping & Accounting Software upto 800 entries
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Get Plan

PLATINUM ₹22475
Quarterly

  • INCLUSIVE OF GOLD PACKAGE
  • Book keeping & Accounting Software upto 2000 entries
  • Payroll Software upto 20 employees
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