Limited Liability Partnership (LLP) Registration
₹ 10900 all-inclusive
Professional Fees for LLP Incorporation including Name Search and Reservation, Drafting of Partnership Deed, LLP Incorporation Application, DPIN, PAN, TAN, Assistance in opening bank accounts.
NOTE: DSC procurement cost and any government fees are billed based on actual costs.
* Prices are higher for registrations in Chhattisgarh and Kerala on account of higher government fees
Have a Question?
Tell us a bit about what you need and we'll get back to you within 24 hours.
Limited Liability Partnership (LLP) Registration in India
A Limited Liability Partnership is a corporate business vehicle that enables entrepreneurial initiative to operate in flexible and efficient manner by providing the benefits of limited liability and allowing its members to organize their internal structure as a partnership. LLP form of business is ideal for all classes of entrepreneurs whether it be traders, manufacturers or professionals. It is easy to incorporate and manage. LLP is more credible and preferable than a normal partnership firm.
Limited Liability Partnership has been introduced in India by way of Limited Liability Partnership Act, 2008. It exhibits elements of both partnership and corporation. In LLP, one partner is not responsible or liable for another partner's misconduct or negligence unlike a traditional partnership in which each partner has joint and several liability.
Advantages
Legal Entity
An LLP is a legal entity and a juristic person. It has wide legal capacity and can own property.
Limited Liability
Partners have no personal liabilities.
No Audit
No audit required if it has less than Rs. 40 lakhs of turnover and less than Rs.25 lakhs of capital contribution.
Business Continuity
An LLP has 'perpetual succession', that is continued or uninterrupted existence until it is legally dissolved.
Easy Formation
LLP operates on the basis of an agreement. It provides flexibility without imposing detailed legal procedures.
Easy Transferability
The ownership of a LLP can be easily transferred to another person by inducting them as a Designated Partner of the LLP.
Dual Relationship
A person at the same time can be a Partner, creditor, supplier and also an employee of the LLP.
Partner Protection
In LLP, Partners unlike partnership are not agents of the partners and therefore they are not liable for the individual act of other partners.
LLP Registration Process
Limited Liability Partnership is easy to incorporate and manage. Minimum two partners are required to form a LLP and there is no limit on maximum number of partners. There is no requirement of minimum capital contribution in a LLP. It usually takes 15-20 days to incorporate an LLP, subject to ROC processing time.
DSC Application
1-3 working days
DPIN
1-3 working days
LLP Registration
7-9 working days
PAN & TAN Applications
1-3 working days
Comparing Private Limited Company, LLP and OPC
| Factors of Comparison | Private Limited Company | One Person Company | Limited Liability Partnership |
|---|---|---|---|
| Minimum Requirement | Members – 2 Directors – 2 |
Member – 1 Director – 1 Nominee of Sole Member – 1 |
Designated Partners – 2 |
| Minimum Capital | No minimum requirement | No minimum requirement | No minimum requirement |
| Regulator | Registrar of Companies | Registrar of Companies | Registrar of Companies |
| Compliance Requirements | Annual Return Filing Board Meetings & General Meetings |
Annual Return Filing No Board Meetings, if only one director No General Meetings |
Annual Return Filing |
| Taxation | Taxed at 30% | Taxed at 30% | Taxed at 30% |
| Credibility | High | Medium | Medium |
| Investor Preference | High | Low | Medium |
| Statutory Audit | Compulsory | Compulsory | If Contribution > Rs 25lacs or, Turnover > Rs. 40lacs |
| Conversion | Can be converted into LLP | Cannot be converted before 2 years | Cannot be directly converted into a Private Limited Company |
| Time Taken for Registration | 15 – 20 Days | 10 – 15 Days | 15 – 20 Days |
| Procedure | Obtain DSC (Digital Signature Certificate) INC-32 Incorporation Filing PAN, TAN Applications |
Obtain DSC (Digital Signature Certificate) MoA & AoA, INC-32 Incorporation Filing PAN, TAN Applications |
Obtain DSC (Digital Signature Certificate) Obtain DPIN (Designated Partner Identification Number) Name Approval Filing for Incorporation File LLP Agreement PAN, TAN Applications |
| Get started | Get started | Get started |