Application for Registration - Limited Liability Partnership - Oregon (English / Russian)

Application for Registration - Limited Liability Partnership is a legal document that was released by the Oregon Secretary of State - a government authority operating within Oregon.

FAQ

Q: What is an Limited Liability Partnership (LLP)?A: A Limited Liability Partnership (LLP) is a type of business structure that provides the limited liability protection of a corporation and the flexibility and tax advantages of a partnership.

Q: Why should I choose an LLP?A: Choosing an LLP can provide personal liability protection for the partners, while also allowing them to have more control over the management and decision-making of the business.

Q: How do I register an LLP in Oregon?A: To register an LLP in Oregon, you will need to complete and submit an Application for Registration form to the Oregon Secretary of State, along with the required filing fee.

Q: What are the requirements for forming an LLP in Oregon?A: To form an LLP in Oregon, you will need to have at least two partners, appoint a registered agent, and comply with any additional requirements set forth by the Oregon Secretary of State.

Q: Are there any ongoing requirements for an LLP in Oregon?A: Yes, LLPs in Oregon are required to file an Annual Report and pay a filing fee each year to maintain their active status.

Q: Can an LLP have a single owner?A: No, an LLP must have at least two partners.

Q: Can an LLP be formed by foreign individuals or entities?A: Yes, foreign individuals and entities can form an LLP in Oregon.

Q: What is the difference between an LLP and a corporation?A: The main difference between an LLP and a corporation is the level of personal liability protection. In an LLP, the partners have limited liability, while in a corporation, the shareholders have limited liability.

Q: Can an LLP be converted into a different business structure?A: Yes, an LLP can be converted into a different business structure, such as a corporation or a limited liability company (LLC), by filing the appropriate conversion documents with the Oregon Secretary of State.

Q: Is it necessary to have a partnership agreement for an LLP?A: While it is not legally required to have a partnership agreement for an LLP in Oregon, it is highly recommended to have one in place to outline the rights and responsibilities of the partners.