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Limit Liability Partnership

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Limit Liability Partnership

A Limited Liability Partnership (LLP) blends the operational flexibility of a traditional partnership with the limited liability protection of a company. Introduced under the LLP Act, 2008, it has become the structure of choice for professionals, consultants, service firms, and family-run businesses that want simplicity, tax efficiency, and legal protection — without the heavier compliance of a Private Limited Company.

In an LLP, partners’ personal assets remain protected from business liabilities, and no partner is held accountable for another partner’s misconduct. It is a separate legal entity with perpetual succession, making it far more credible and resilient than a regular partnership firm.

We help entrepreneurs, consultants, and firms incorporate their LLP end-to-end — from name reservation and DIN/DSC to LLP agreement drafting, PAN/TAN, GST, and ongoing compliance — ensuring a clean, fully compliant, and future-ready setup.

7-10
Working days for incorporation
2
Designated partners minimum
₹0
Minimum capital contribution
Low
Annual compliance burden

What’s Included in Our LLP Package

01

Name Reservation

RUN-LLP application for name reservation and guidance on availability and MCA naming norms.

02

Digital Signatures

Class 3 DSCs for designated partners needed for e-filing on the MCA portal.

03

DIN / DPIN

Allotment of Director Identification Number (DPIN) for designated partners through FiLLiP.

04

FiLLiP Filing

Complete incorporation filing through Form FiLLiP with all required attachments.

05

LLP Agreement

Drafting of LLP Agreement defining roles, capital, profit sharing, and rights of partners.

06

PAN & TAN

Automatic issuance of LLP PAN and TAN along with Certificate of Incorporation.

07

Bank Account & GST

Assistance in opening a current account and obtaining GST registration where applicable.

08

Post-Incorporation

Filing of Form 3 (LLP agreement), statutory records, and onboarding for annual compliance.

Eligibility & Requirements

Minimum Partners

At least 2 designated partners are required, with no maximum limit on total partners.

Resident Partner

At least one designated partner must be a resident of India during the financial year.

Capital Contribution

No minimum capital requirement — contribute any amount agreed between the partners.

Unique Name

LLP name must be unique and end with the words “LLP” or “Limited Liability Partnership”.

Registered Office

A valid address in India that can serve as the registered office of the LLP.

Business Activity

Any lawful business activity except a few restricted areas like banking and insurance.

Documents Required

For Designated Partners

  • PAN card (mandatory for Indians)
  • Aadhaar card
  • Passport (mandatory for foreign nationals)
  • Voter ID / Driving License / Passport
  • Latest bank statement or utility bill
  • Passport-size photograph
  • Email ID and mobile number

For Registered Office

  • Rent agreement or ownership proof
  • Latest utility bill (electricity / water)
  • NOC from the property owner
  • Property tax receipt (if applicable)

For the LLP

  • Proposed LLP name (2 options)
  • Main business activity / object
  • Capital contribution details
  • Profit sharing ratio among partners
  • Digital signatures of partners

Incorporation Process

1

DSC & Name

Obtain Digital Signatures and reserve the LLP name through the RUN-LLP facility.

2

Document Prep

Compile KYC documents, address proofs, and partner declarations for filing.

3

FiLLiP Filing

File Form FiLLiP for incorporation with all attachments on the MCA portal.

4

Incorporation

Receive Certificate of Incorporation along with LLPIN, PAN, and TAN.

5

LLP Agreement

Execute and file the LLP Agreement in Form 3 within 30 days of incorporation.

Why Choose an LLP

✓
Limited liability protection for all partners
✓
Separate legal entity from its partners
✓
No minimum capital contribution required
✓
Lower compliance cost than a Pvt Ltd company
✓
No dividend distribution tax on profit share
✓
Flexibility in internal management and operations
✓
Perpetual succession regardless of partner changes
✓
No audit required below prescribed thresholds

LLP vs Private Limited Company

Parameter LLP Private Limited Company
Governing Law LLP Act, 2008 Companies Act, 2013
Minimum Members 2 Designated Partners 2 Directors & 2 Shareholders
Maximum Members No Limit 200 Shareholders
Minimum Capital No Minimum No Minimum
Compliance Cost Lower Higher
Statutory Audit Only above turnover / contribution limits Mandatory regardless of turnover
Equity Fundraising Not Possible Possible (VC / Angel / PE)
ESOPs Not Allowed Allowed
Ideal For Professionals, Services, Family Businesses Startups, Scalable Businesses

Annual & Post-Incorporation Compliances

LLP Agreement Filing

File executed LLP Agreement in Form 3 within 30 days of incorporation.

Form 11 (Annual Return)

File annual return in Form 11 within 60 days from the end of the financial year.

Form 8 (Statement of Accounts)

File Statement of Accounts and Solvency within 30 days from the end of September.

Income Tax Return

File ITR annually, irrespective of turnover or profit, under applicable due dates.

DIR-3 KYC

Annual KYC filing for all designated partners holding a DIN/DPIN.

Statutory Audit

Required if turnover exceeds ₹40 lakh or contribution exceeds ₹25 lakh.

Tax Audit

Required under Section 44AB if turnover crosses prescribed threshold.

GST & TDS Compliance

Monthly / quarterly GST returns and TDS filings where applicable.

FAQs on LLP Registration

What is a Limited Liability Partnership (LLP)?
An LLP is a hybrid business structure combining features of a partnership and a company. It provides limited liability to its partners, separate legal identity, and perpetual succession, while retaining the operational flexibility of a traditional partnership. LLPs are governed by the LLP Act, 2008.
How many partners are required to form an LLP?
An LLP requires a minimum of 2 designated partners, with no maximum limit. At least one designated partner must be a resident of India. Partners can be individuals or corporate bodies.
Is there any minimum capital requirement?
No. There is no minimum capital contribution required to form an LLP. Partners can contribute any amount in cash or kind, as agreed in the LLP Agreement.
How long does LLP incorporation take?
With complete documents and smooth name approval, LLP incorporation is typically completed within 7 to 10 working days through the FiLLiP process on the MCA portal.
Is statutory audit mandatory for LLPs?
Statutory audit is mandatory only if the LLP’s annual turnover exceeds ₹40 lakh or contribution exceeds ₹25 lakh. Smaller LLPs below these thresholds are exempt — a major compliance advantage over Private Limited Companies.
Can an LLP raise equity funding from investors?
No. An LLP cannot issue shares or ESOPs. If you plan to raise venture capital, angel investment, or private equity, a Private Limited Company is a more suitable structure. LLPs can, however, admit new partners and accept capital contributions.
Can an existing partnership firm convert to an LLP?
Yes. A traditional partnership firm, unlisted private company, or unlisted public company can be converted into an LLP through the prescribed conversion process under the LLP Act, 2008, subject to applicable conditions.
How is an LLP taxed?
LLPs are taxed at a flat rate of 30% on profits, plus applicable surcharge and cess. A key advantage is that profit distributed to partners is not taxed again in their hands, and LLPs are not subject to Dividend Distribution Tax (DDT).

Start Your LLP with Confidence

Partner with our experts for a smooth, fully compliant LLP incorporation — from name reservation to your first annual filing.

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