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A: At least two designated partners are required to start an LLP.
A: There is no minimum capital requirement to start an LLP.
A: Yes, an LLP can be converted into a company.
A: The incorporation of an LLP usually takes around 15-20 days.
A: The compliance requirements for an LLP are:
Filing of Annual Return
Filing of Income Tax Returns
Filing of Statement of Accounts and Solvency
A: Yes, a foreigner can be a designated partner in an LLP.
A: Yes, an LLP can be wound up voluntarily by the partners.