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See why LLPs are a smart choice for balancing risk and reward in your business.
Start your business with any amount – there’s no need for a hefty initial investment to register a Limited Liability Partnership.
Enjoy affordable registration fees while gaining significant legal protections and benefits for your business.
Enjoy peace of mind knowing that your personal liability is limited to the contribution you make, keeping your personal wealth safe.
Enjoy tax benefits as business profits are taxed only at the partner level, unlike corporations, which face double taxation at both corporate and dividend levels
Lets you manage your business directly and efficiently without the need for a board of directors, unlike corporations.
Easier to set up and maintain compared to private limited companies, making it a hassle-free choice for entrepreneurs.
Follow these 5 easy steps to kickstart your LLP today
Fill Up the Forms
Submit the Documents
Reserve Your LLP Name
Pay Professional Fee
Get Your LLP Registered
Ensure all documents are in place for LLP registration with this guide
Know the first-hand requirements to set up your LLP
(Individual or body corporate)
What to expect: your complete list of key outcomes for LLP incorporation
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Explore your company registration choices below
| Feature | Limited Liability Partnership | Private Limited Company | One Person Company | Partnership Firm | Proprietorship Firm |
|---|---|---|---|---|---|
| Applicable Law | Limited Liability Partnership Act, 2008 | Companies Act, 2013 | Companies Act, 2013 | Indian Partnership Act, 1932 | No specified Act |
| Registration | Mandatory | Mandatory | Mandatory | Optional | No |
| Number of Owners | 2 - Unlimited | 2 - 200 | Only 1 | 2 - 50 | Only 1 |
| Applicable Law | ✔ | ✔ | ✔ | ✔ | ✖ |
| Liability Protection | Limited | Limited | Limited | Unlimited | Unlimited |
| Statutory Audit | As Applicable | Mandatory | Mandatory | Not Mandatory | Not Mandatory |
| Ownership Transfer | ✔ | ✔ | ✔ (Restricted) | ✔ (Restricted) | ✖ |
| Perpetual Existence | ✔ | ✔ | ✔ | ✖ | ✖ |
| Foreign Ownership | ✔ | ✔ | ✔ | ✖ | ✖ |
| Taxation Liability | High | Moderate | Moderate | High | Low |
| Document Requirements | Moderate | High | High | Low | Low |
| Get Started | Know More | Know More | Know More | Know More |
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Find Answers to Common Queries and Concerns related to LLP
Yes, any existing private company or existing unlisted public company can be converted into LLP by complying with the Provisions of clause 58 and Schedule III and IV of the LLP Act.
Form 18 needs to be filed with the registrar along with Form 2 for such conversion.
There is no maximum limit on the number of members (partners) in a Limited Liability Partnership (LLP) in India.
No, the name of the LLP shall end with either ‘Limited Liability Partnership’ or ‘LLP’. Word ‘limited’ shall be allowed in name only within ‘Limited Liability Partnership’.
The change in partner’s details can be intimated by filing eform 4 within thirty days of such change without additional fee and with additional fee thereafter.
Yes, an NRI can incorporate a Limited Liability Partnership (LLP) in India, but at least one designated partner must be a resident of India.
LLP is required to file LLP Form 8 (Statement of Account & Solvency) and LLP Form 11 (Annual Return) annually.
The ‘Annual Return’ is required to be filed within 60 days of close of the financial year and ‘Statement of Accounts & Solvency’ shall be filed within 30 days from the end of six months of the financial year to which it relates.
Every LLP has to maintain a uniform financial year ending on 31st March of a year.
The approved name of LLP shall be valid for a period of 3 months from the date of approval.
If the proposed LLP is not incorporated within such period, the name shall be lapsed and will be available for other applicant/ LLP.
Please note that there shall not be any provision for renewal of the name.
Every partner shall inform the LLP of any change in his name or address within a period of fifteen days of such change.
The LLP, in turn, would be under obligation to file such details with the Registrar within thirty days of such change in Form 4.
Yes. It is mandatory to execute and file the LLP Agreement as per Section 2(o), 2(q), 22 and 23 of the LLP Act.
As per provisions of the LLP Act, in the absence of agreement as to any matter, the mutual rights and liabilities shall be as provided for under Schedule I to the Act.
Therefore, in case any LLP proposes to exclude provisions/requirements of Schedule I to the Act, it would have to enter into an LLP Agreement, specifically excluding applicability of any or all paragraphs of Schedule I.
If an LLP’s number of partners reduces to one, it must convert to another form of entity or wind up as it needs at least two partners.
DPIN (Designated Partner Identification Number) is a unique identification number issued by the Ministry of Corporate Affairs to designated partners of an LLP in India.
The main difference is that an LLP provides limited liability protection to its partners, while a Partnership Firm does not.
Yes, LLP registration is mandatory if you want to legally operate as a Limited Liability Partnership in India.
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