LLP Registration in India
In India, LLP registration has emerged as a new business structure that combines the benefits of a company with the adaptability of a partnership firm into a single entity. The Limited Liability Partnership Act of 2008, which took effect in 2008, introduced the LLP concept to India. Small- and medium-sized firms would do well to use this unusual hybrid.
In India, a Limited Liability Partnership is fairly simple to run and incorporate. The minimum number of partners needed to register an LLP is two, and there is no maximum number. The partners' obligations are laid out in the LLP agreement. An LLP does not hold one partner accountable for the bad behaviour or carelessness of the other partner. In accordance with the terms of the LLP agreement, the partners are accountable for all compliances and requirements.
Proprietorship vs Limited Liability Partnership (LLP) vs Company
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Features |
LLP |
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Definition |
Unregistered type of business entity managed by one single person |
A formal agreement between two or more parties to manage and operate a business |
A Limited Liability Partnership is a hybrid combination having features similar to a partnership firm and liabilities similar to a company. |
Registered type of entity with limited liability to the owners and shareholders |
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Ownership |
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For One Person Company
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Registration Time |
7-9 working days |
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Promoter Liability |
Unlimited Liability |
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Documentation |
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Governance |
- |
Under Partnership Act |
Under Companies Act,2013 |
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Transferability |
Non Transferable |
Transferable if registered under ROF |
Transferable |
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Compliance Requirements |
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Documents Required For LLP Registration
PAN Card
Passport (Foreign Nationals Only)
Voters Identity Card
Ration Card
Driving License
Electricity Bill
Telephone Bill
Aadhaar Card
Bank Statement
Passport Size Photo
Recent Utility Bill
Business Place
Faq's
What are the compliances for LLP?
An LLP is supposed to file 1. LLP Annual return by Filing Form 11. 2. Final Statement of Account and Solvency 3. Income Tax Return.
How long does it take to incorporate an LLP?
The time taken for incorporation depends on the submission of relevant documents by the client as well as the Approvals from the Government authorities. IndiaFilings can help you Incorporate an LLP in 14-20 days.
Is GST required for LLP?
Yes, Goods and Services Tax (GST) is required for all Limited Liability Partnerships (LLPs) depending on the type of services or goods they offer. LLPs are required to obtain a GST registration and file GST returns on a regular basis.
How much does an LLP cost?
The cost of registering an LLP in India depends on the number of partners, the amount of the contribution made by each partner and any additional registration fees. There are additional costs associated with setting up an LLP in India, such as professional fees, stamp duty, and other registration requirements.
Who are eligible for LLP?
To form an LLP, at least two individuals (called Designated Partners) must be appointed. The individuals must be aged 18 or above and must possess a valid Indian address. Designated Partners can be individuals or bodies corporate (such as companies). Foreign nationals, foreign corporate bodies and limited liability partnerships can also be appointed as Designated Partners.
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