Limited Liability Partnership (LLP)

What is Limited Liability Partnership (LLP)

A Limited Liability Partnership (LLP) in India is a business structure that combines the benefits of a partnership and a company. It offers the flexibility of a partnership with the advantage of limited liability protection to its partners. LLPs in India are governed by the Limited Liability Partnership Act, 2008.

Overview of LIMITED LIABILITY PARTNERSHIP (LLP) in India

Key Features

Minimum of 2 Partners
No maximum limit on number of partners
Minimum of 2 Designated Partners
Profit & Loss sharing
Unlimited Liability
Optional Registration

Stepwise Process to form a Partnership Firm

Unique Partnership Name
Drafting of Partnership Deed
Execution of Partnership Deed
Registration of Partnership Firm (Optional but Recommended)
Apply for PAN
Open Bank Account

Documents Required to Register Company in India

Passport size colour photo of all Partners
Identity Proof of all Partners (PAN Card / Aadhar Card / Voter id / Passport / Driving License)
Address Proof of Partners (Aadhar Card / Voter id / Passport / Driving License / Bank Statement) – To be different from Identity Proof
Address Proof of Partnership Firm ( Rental Agreement / Utility Bill / No Objection Certificate from Landlord)

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