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LLP has a legal entity separate from its partners
LLP has perpetual succession
Suitable for professionals, venture capital & SME
Get DIN, DSC, LLP agreement, TAN & PAN
Limited Liability Partnership
Governed by LLP Act, 2008 in India, LLP is registered online with Registrar of Companies (RoC) under Ministry of Companies (MCA). It has status of artificial judicial person &separate Legal Entity distinct form its partner. LLP is a hybrid of partnership firm & private limited company as it contains both partnership firm and corporate structure. Minimum two partners are required to form a LLP & liability of partners is limited to their respective agreed contribution. There is minimum capital requirement to incorporate a LLP. It is governing is flexible as can be set as per mutual agreement. It also has lesser compliance requirement than private limited company.
Advantage & Benefit of Limited Liability Partnership
Status of artificial judicial person
A Limited Liability Partnership is recognised by law as an artificial legal person which has the privileges, rights & obligations of its own. It can contract, sue or be sued.
Separate legal entity distinct from its promoters
Limited Liability Partnership is a separate legal entity distinct from its partners & in case of insolvency partners are not personally liable.
Limited Liability
The liability of partner is limited to their agreed contribution.
Enhanced borrowing capacity
Banks & other financial institution rely & put more trust with regard to capacity & creditworthiness of LLPs.
Flexibility
Itoperates on the basis of legal agreement & provides flexibility with regard to legal and procedural requirement.
Perpetual succession
It means that Limited liability partnership remains in existence even in case of death of all partners as the ownership of shares are inherited by legal heirs.
Transparency
LLP are subjected to certain compliance & Audit report is mandatory after threshold exemption. Also, information is easily available in public domain particularly on Ministry of Corporate Affairs website make it transparent for stakeholders.
Reliable, reputation, brand value
Due to compliance, transparency & information in public domain, limited liability partnership place reputation, brand value & reliability in the eyes of stakeholders more than a partnership firm but less than private limited company.
Compare Options
| Basis | Private Limited Company | Limited Liability Partnership | One Person Company | Partnership Firm | Sole Proprietorship |
|---|---|---|---|---|---|
| Suitable For | Start-ups | Professional firms | Individual promoters | Family businesses | Small Businesses |
| Investors | Attractive | Less Attractive | Not preferable | Unlikely | No way |
| Limited Liability | Yes | Yes | Yes | No | No |
| Taxation Benefits | Certain benefits | Efficient | benefits | Lowest | Lowest |
| Constant Existence | Yes | Yes | Yes | No | No |
| Compliance Applicability | High | Low | High | Minimal | Minimal |
Process to register limited liability partnership
Select a Service
Documentation
Make Payment
Service completed
STEP 1: Select a Service
STEP 2: Upload Documents
STEP 3: Make Payment
STEP 4: Service completed
Package & Pricing
Private Limited Company
₹6000
- COI
- MOA & AOA
- PAN & TAN
- DSC – 2
- DIN – 2
- SHARE CERTIFICATES
- FIRST BOARD RESOLUTION
- GSTIN
GST , MSME & TM
₹10,000
- GSTIN
- GST Invoice Format
- GST e-way bill Registration
- Free GST Consultancy
- MSME Registration
- Trademark
- IEC
- DSC
Startup Annual Compliance
₹25,000
- Financial Statement
- Audit Report
- ITR
- GST Return
- ROC Annual Return
- Consultancy
- ITR for 2 Promoters
- *Package subject to Turnover
ITR for small business
₹6000
- Financial Statement
- ITR
- Consultancy
- Refund Tracking Status
- House Property Income Covered
- Capita Gain Income Covered
- Interest Income Covered
- *Package subject to Turnover
