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India: New Beneficial Ownership Reporting requirements for LLPs

As of the 27th of October 2023, there are new Beneficial Ownership reporting requirements for all Limited Liability Partnerships (LLPs) in India.

This follows the Ministry of Corporate Affairs (MCA) has amendments to the Limited Liability Partnership Rules, 2009 and Section 89 of the Companies Act, 2013.

All LLPs (where beneficial owners are identifiable) are required to maintain a Registers of Partners and file a Declaration of Beneficial Interest through a nominee or registered holder-beneficial owner relationship.

Any changes to the Register must be made within seven days of the date such changes.