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LLP- Limited Liability Partnership

Build a secure and professional partnership with CorporateDoctors — your trusted partner for hassle-free LLP Registration. Get expert help for documentation, compliance, and legal formalities — all in one seamless, 100% online process designed to make business setup simple and risk-free.

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    LLP- LIMITED LIABILITY PARTNERSHIP

    A Limited Liability Partnership (LLP) is a separate legal entity formed by two or more partners, where each partner has limited liability. This means their personal assets are protected in case the LLP faces legal or financial issues. An LLP (Limited Liability Partnership) is a hybrid business structure that combines the benefits of a partnership and a private limited company.

    It is governed by the Limited Liability Partnership Act, 2008 in India.

    • Advantages of LLP:
    • Easy to form and operate
    • Less compliance than a private limited company
    • Lower cost of registration and maintenance
    • Suitable for professional firms, consultancies, startups, etc
    • No Statutory Audit up to a Limit of Contribution or Turnover
    • No Income Tax in partner’s hands on sharing of profit of LLP

    Key Features of LLP (Limited Liability Partnership)

    CorporateDoctors helps you form a Limited Liability Partnership with ease —

    • Separate Legal Entity : LLP is a distinct legal entity, separate from its partners.
    • Limited Liability : Liability of each partner is limited to their agreed contribution.
    • Perpetual Succession : LLP continues to exist even if partners change or die.
    • Minimum Two Partners : At least 2 partners required; no maximum limit.
    • LLP Agreement : Governs the rights and duties of partners; filed with MCA.
    • Designated Partners : Minimum 2 designated partners (at least 1 must be Indian resident.
    • No Minimum Capital : No mandatory minimum capital requirement for incorporation.
    • Separate PAN & Bank Account : LLP must have its own PAN and business bank account.
    • Taxation : LLP is taxed at 30% (flat rate) like a partnership firm.
    • Registration Required : Must be registered with the Ministry of Corporate Affairs (MCA).
    • Annual Compliance : Must file Form 11 (Annual Return) and Form 8 (Statement of Accounts).
    • Audit Requirement : Mandatory only if turnover > ₹40 lakh or capital > ₹25 lakh.
    • Flexible Internal Structure : Partners have freedom to manage LLP as per the agreement.
    • No Compulsory Audit : Audit is not required unless specific thresholds are crossed.
    • FDI Allowed : 100% FDI under the automatic route in most sectors

    LLP REGISTRATION PROCESS

    Step 1
    Obtain Digital Signature Certificate (DSC)

    Required for all designated partners to file forms online
    (Time Required:  12 hours)

    Step 2
    Apply for DPIN (Designated Partner Identification Number)

    Now done along with incorporation via FiLLiP form
    (Time Required:  Included in Step 4)

    Step 3
    Name Reservation (RUN-LLP)

    Apply for unique LLP name via RUN-LLP (Reserve Unique Name) portal
    (Time Required:  1-2 days)

    Step 4
    File Incorporation Form (FiLLiP)

    File FiLLiP form with MCA for LLP incorporation + partner details + address
    (Time Required:  2–3 Days)

    Step 5
    Submit LLP Agreement

    File Form 3 for LLP Agreement (within 30 days of incorporation)
    (Time Required:  Within 30 Days)

    Step 6
    Obtain PAN & TAN

    Can be applied via FiLLiP or separately through NSDL
    (Time Required:  7–10 Days)

    Step 7
    Open Bank Account

    Using COI, PAN, LLP Agreement, and other KYC documents
    (Time Required:  1-2 days)

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