Setting Up Limited Liability Partnership (LLP)
Requirement of Setting Up Limited Liability Partnership (LLP)
a) Minimum of 2 partners (No limit of maximum number of partners)
b) Appoint Compliance Officer
c) Propose a name of the LLP
d) Propose nature of business
e) Get ready address of registered office
f) Provide name and details of partners
g) Provide name and details of Compliance Officer
h) Provide approval letter (in cases of professional practice)
Note: A LLP is required to be registered by the Compliance Officer on behalf of the partners. The Compliance Officer may do so by subscribing to the MyLLP system as an user.
SDN. BHD. vs LLP
Annual Obligations for Limited Liability Partnership (LLP)
There is no mandatory auditing requirement for a LLP.