Chartered Accountant · ICAI M.No. 153926 · FRN 136869W
Two partners, two designated
An LLP requires at least two partners. Among them, at least two must be designated partners — the ones legally responsible for the LLP’s compliance and filings — and at least one designated partner must be resident in India. Designated partners need a DPIN/DIN and a digital signature.
No upper limit
Unlike a traditional partnership (capped at a limited number of partners), an LLP has no maximum — it can have many partners, which makes it suitable for larger professional firms. A partner may be an individual or a body corporate (a company can be a partner), though only an individual can be a designated partner. Confirm residency and eligibility rules.
A worked example
Example: three professionals form an LLP — all three are partners, and at least two of them are named designated partners (one resident in India). If one partner leaves, the LLP must still keep two partners and two designated partners; dropping below that for six months can attract liability. A growing firm can keep adding partners without limit. Our team can set up the LLP and its agreement.