LLP - All You Need to Know About Limited Liability Partnership

IndiaFilings / Business Registration / LLP Registration

LLP Registration

4.8

9962 Customers

Instant Name Application for LLP.

3 Exclusive Offers

MCA Name Approval

Name Application Fee Instant Filing 4 Name Choice

3 Exclusive Offers

LLP Incorporation

MCA Name Approval Instant Incorporation Incorporation Fee LLP Incorporation LLP Deed Drafting

3 Exclusive Offers

LLP Incorporation - Tamil Nadu

MCA Name Approval Instant Incorporation Incorporation Fee LLP Incorporation LLP Deed Drafting Stamp Paper Shipping & Handling LEDGERS Software - 1 Year

3 Exclusive Offers

LLP Incorporation - Maharashtra

MCA Name Approval Instant Incorporation Incorporation Fee LLP Incorporation LLP Deed Drafting Bank Account Assistance

3 Exclusive Offers

LLP Incorporation - Gujarat

MCA Name Approval Instant Incorporation Incorporation Fee LLP Incorporation LLP Deed Drafting Bank Account Assistance

LLP Incorporation - Kerala

MCA Name Approval Instant Incorporation Incorporation Fee LLP Incorporation LLP Deed Drafting Rs. 5000 Stamp Paper Shipping & Handling LEDGERS Software - 1 Year

3 Exclusive Offers

LLP Incorporation - Karnataka

MCA Name Approval Instant Incorporation Incorporation Fee LLP Incorporation LLP Deed Drafting Rs. 5000 Stamp Paper Shipping & Handling LEDGERS Software - 1 Year

Terms and conditions

Refer a Friend

Offers and discounts

LEDGERS - Compliance Platform Invoicing, GST Filing, Banking and Payroll

DBS Bank - Zero Balance Account Exclusive benefits for startups*

Save 18% with GST Registration Get GST eInvoice with Input Tax Credit

Existing User? Login

Enter GSTIN to get 18% GST Credit

IndiaFilings / Learn / IndiaFilings Business Registration / Formation Of Limited Liability Partnership Llp

In this article, we look at some of the advantages and features of a LLP registration, which is a new type of business structure in India, introduced to provide limited liability to the owners while at the same time being simple to start and manage.

Limited Liability

The Partners are liable to the extent of their contributions to the firm. In other words, they are not liable to the outside creditors personally. In the case of a partnership, the partners are personally liable to the creditors. Due to this provision, many entrepreneurs hesitate to become a partner of a partnership firm.

Separate Entity

LLP is a separate legal entity and it can own properties in its own name and it alone will be liable to its liabilities.

Capacity to Sue and be Sued

An LLP is a body corporate and it can sue and be sued in its own name.

Simplicity

Compared to the formation and running of a Private Limited Company, the formation and running of an LLP are simple. There is no specific requirement regarding members meetings, resolutions, annual meetings, etc.,

Perpetual Existence

An LLP is a juristic person and its existence does not depend on the partners. The partners of an LLP may keep changing from time to time but it will not affect the LLP's continuity.

Minimum Number of Partners

A minimum number of partners required to form an LLP is two. However, if the number of partners falls below two for six months, then the partner continuing in the LLP will become personally liable.

Maximum Number of Partners

There is no limit regarding the maximum number of partners. On the other hand, Private Limited Company has a maximum limit on the number of members at two hundred.

Formation of Limited Liability Partnership (LLP)

[caption id="attachment_2145" align="aligncenter" width="747"]

Incorporation-Process-of-a-Limited-Liability-Partnership

To incorporate an LLP, a minimum of 2 persons are required. As detailed above, there is no limit on the maximum number of partners in an LLP. The following persons can be partners in an LLP.

Individuals
Limited Liability Partnerships
Companies
Foreign Limited Liability Partnerships
Foreign Companies

About the Author

IndiaFilings
Post By IndiaFilings.

Updated on: February 19th, 2025

Related Guides

Bakery Business Plan Goat Farming Business Plan MSME Mutual Credit Guarantee Scheme (MCGS): 60% Guarantee for Loans Upto Rs. 100 Crore BIS Raids eCommerce Platforms for Selling Non-Certified Products Women’s Day 2025: What are the Tax and Financial Benefits for Women in India? Ola Electric Showrooms Trade Certificate Violations – What Businesses Must Learn Marriage Registration Ghaziabad

LLP Registration

Refer a Friend

Offers and discounts

E-Mail Verification

Limited Liability Partnership (LLP) - All You Need to Know

Limited Liability

Separate Entity

Capacity to Sue and be Sued

Simplicity

Perpetual Existence

Minimum Number of Partners

Maximum Number of Partners

Formation of Limited Liability Partnership (LLP)

About the Author

Related Guides

Popular Post

LLP Registration

Refer a Friend

Offers and discounts

E-Mail Verification

Limited Liability Partnership (LLP) - All You Need to Know

Limited Liability

Separate Entity

Capacity to Sue and be Sued

Simplicity

Perpetual Existence

Minimum Number of Partners

Maximum Number of Partners

Formation of Limited Liability Partnership (LLP)

About the Author

Related Guides

Popular Post

IndiaFilings Search – Quick and Precise Results!