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Yes, a salaried person becomes a Partner, there are no legal bondages in this but you may have to go through with your employment agreement if it contains any restrictions on doing so.
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Can an NRI or foreign national be a partner in an LLP?
Yes, an NRI or Foreign National can be a Partner after obtaining a DPIN. At least, one of the partners has to be a resident Indian citizen.
What is the difference between LLP and traditional partnership firm?
Under traditional partnership firm, every partner is liable, jointly with all the other partners and also severally for all acts of the firm done while he is a partner. Under LLP structure, liability of the partner is limited to his agreed contribution. Further, no partner is liable on account of the independent or un-authorized acts of other partners, thus allowing individual partners to be shielded from joint liability created by another partner's wrongful acts or misconduct.
How many people are required to incorporate a Limited Liability Partnership?
The Designated Partners needs to be over 18 years of age and must be a natural person. There are no limitations in terms of citizenship or residency. Therefore, the LLP Act 2008 allows Foreign Nationals including Foreign Companies & LLPs to incorporate a LLP in India provided at least one designated partner is resident of India.
How long is the LLP valid for?
Once a LLP is incorporated, it will be active and in-existence as long as the annual compliances are met with regularly. In case, annual compliances are not complied with, the LLP will become a Dormant Company and maybe struck off from the register after a period of time. A struck-off Company can be revived for a period of up to 20 years.
Can I later convert my Partnership firm into a Company or LLP?
Yes, there are procedures for converting a Partnership business into a Company or a LLP at a later date. However, the procedures to convert a Partnership firm into a Company or LLP are cumbersome, expensive and time-consuming. Therefore, it is wise for many entrepreneurs to consider and start a LLP or Company instead of a Partnership firm.
Can an NRI or foreign national be a partner in an LLP?
Yes, an NRI or Foreign National can be a Partner after obtaining a DPIN. At least, one of the partners has to be a resident Indian citizen.
Who is carmine filippone?
Carmine Filippone is a CPA and partner at Rudinger, Heller & Filippone, LLP in White Plains, NY.
What is the difference between LLP and traditional partnership firm?
Under traditional partnership firm, every partner is liable, jointly with all the other partners and also severally for all acts of the firm done while he is a partner. Under LLP structure, liability of the partner is limited to his agreed contribution. Further, no partner is liable on account of the independent or un-authorized acts of other partners, thus allowing individual partners to be shielded from joint liability created by another partner's wrongful acts or misconduct.
How many people are required to incorporate a Limited Liability Partnership?
The Designated Partners needs to be over 18 years of age and must be a natural person. There are no limitations in terms of citizenship or residency. Therefore, the LLP Act 2008 allows Foreign Nationals including Foreign Companies & LLPs to incorporate a LLP in India provided at least one designated partner is resident of India.
When was Goldfarb LLP created?
Goldfarb LLP was created in 2010.
When was McMillan LLP created?
McMillan LLP was created in 1903.
What is the population of McMillan LLP?
As of now, McMillan LLP is a law firm and not a geographic location or community, so it does not have a population in the traditional sense. The number of lawyers, staff, and clients associated with the firm could provide an estimate of its size, but it does not have a fixed population like a town or city.
What is the population of Nabarro LLP?
As of my last update, Nabarro LLP no longer exists as an independent entity. It merged with CMS Cameron McKenna and Olswang in 2017 to form CMS UK. The population of Nabarro LLP as a standalone entity is not available.
What is the population of Davis LLP?
The population of Davis LLP is 550.
When was Davis LLP created?
Davis LLP was created in 1892.
What is WeirFoulds LLP's population?
WeirFoulds LLP's population is 225.
When was WeirFoulds LLP created?
WeirFoulds LLP was created in 1860.
