LLP Registration

What is an LLP (Limited Liability Partnership)?

A Limited Liability Partnership (LLP) is a unique business structure that combines the benefits of a traditional partnership with the limited liability feature of a company. Introduced in India under the LLP Act, 2008, it is ideal for professionals and small businesses who want flexibility in operations with reduced legal compliance compared to a private limited company.

Key Features of LLP

Aspect	Details
Legal Status	Separate legal entity from its partners
Minimum Partners	2 Designated Partners (at least one must be a resident of India)
Maximum Partners	No limit
Liability	Limited to the amount contributed by the partners
Perpetual Succession	Yes (continues to exist even if partners change)
Audit Requirement	Required only if turnover exceeds ₹40 lakh or contribution exceeds ₹25 lakh
Governing Law	Limited Liability Partnership Act, 2008

Advantages of LLP

• Limited Liability – Personal assets of partners are protected.
• Separate Legal Entity – Can own assets and incur debts in its own name.
• No Dividend Distribution Tax – Unlike companies, LLPs are exempt.
• No Minimum Capital Requirement
• Lesser Compliance than Private Limited Companies
• Tax Efficient – LLP is taxed as a partnership; no double taxation.

Ideal For

• Professionals (e.g., Chartered Accountants, Lawyers, Consultants)
• Startups and small businesses seeking limited liability with minimal compliance
• Family-run businesses transitioning from traditional partnership

Requirements for Incorporation of LLP (2 Partners)

• Name of LLP (2 options)
• Business Activities to be carried out
• Latest electricity bill of the registered office of LLP (not older than 2 months)
• NOC of owner (Format will be provided)
• Phone & Email ID of LLP
• DSC of all partners
• PAN & Aadhaar of all partners
• Address proof for each partner: (any one of Electricity bill / Telephone bill / Mobile bill / Bank statement — not older than 2 months)
• Occupation of all partners
• Educational qualification of all partners
• Place of birth of all partners
• Email ID & Mobile number of each partner
• Total Capital of LLP
• Capital contribution by each partner
• Subscribers’ sheet & consent letter by all partners (Format will be provided)

Fees

Sr. No.	Particulars	Fees (in Rs.)
1	Name Reservation	200
2	DSC of 2 Partners	4000
3	Fillip for Incorporation	500
4	Form 3 for Agreement	100
5	Stamps on Agreement	1200
6	Before me Notary	500
7	Professional Fees	8000
	TOTAL	14500