Limited Liability Partnership Registration

Limited Liability Partnership has been introduced in India by way of Limited Liability Partnership Act, 2008. LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a Partnership. A Limited Liability Partnership combines the advantages of both the Company and Partnership into a single form of organization and one partner is not responsible or liable for another partner’s misconduct or negligence.

It is very easy to form LLP, as the process is very simple as compared to Companies and does not involve much formality. A LLP is indeed advantageous because of comparatively lower cost of formation, lesser compliance requirements, easy to manage and run, partners are not liable for the acts of the other partners.


Limited Liability

A LLP exists as a separate legal entity from your personal life. Both LLP and person, who own it, are separate entities and both functions separately. Liability for repayment of debts and lawsuits incurred by the LLP lies on it and not the owner.

It’s quick and easy to get started

It’s now very easy to start partnership and it can all be done online. Now you can start a limited liability partnership in few days. What’s more, the cost of incorporating is an allowable expense against corporation tax.

Easy Transferable Ownership

It is easy to become a Partner with minimum number of documents or leave the LLP or otherwise it is easier to transfer the ownership in accordance with the terms of the LLP Agreement.

Body Corporate

Just like a Company, LLP is also body corporate, which means it has its own existence as compared to partnership. LLP and its Partners are distinct entity in the eyes of law. LLP will know by its own name and not the name of its partners..

Frequently Asked Questions (FAQs)

What is a Limited Liability Partnership?

A LLP is a new form of legal business entity with limited liability. It is an alternative corporate business vehicle that gives the benefits of limited liability but allows its partners the flexibility of organizing their internal structure as a traditional partnership. The LLP is a separate legal entity and, while the LLP itself will be liable for the full extent of its assets, the liability of the partners will be limited.

What is minimum number of partners required in LLP?

At least two partners required to register a LLP.

Can a minor be appointed as a Partner in a LLP?

The Designated Partners needs to be over 18 years of age and must be a natural person. Even foreign nationals can be appointed as a Partner with the approval for Foreign Contribution Promotional Board.

What is the time frame for registering my LLP?

We can register a LLP within 10 to 15 days of time. But the documents submitted should be as per our requirements and also within time. If there is any delay in submitting the docs the mentioned time frame may change.

What do I need to quickly incorporate my LLP?

To Start a LLP quickly, make sure the proposed name of the Limited Liability Partnership is very unique. Names that are similar to an existing private limited company / limited liability partnership can be rejected and extra time will be required for resubmission of names.