How many partners are required to form an LLP in India?

Answer 1

To form an LLP in India, the following requirements must be met:

Minimum Partners: An LLP must have at least two partners. These partners can be individuals or corporate entities.

Designated Partners: Among the partners, at least two must be designated partners, and one of them must be a resident of India (having stayed in India for at least 182 days in the previous calendar year).

Maximum Partners: There is no upper limit on the number of partners in an LLP, which makes it an ideal structure for growing businesses that wish to add partners over time.

Legal Entities as Partners: Both individuals and legal entities (e.g., companies, LLPs) can be partners in an LLP, providing flexibility in structuring ownership and management.