Limited Liability Partnership
Hybrid of a partnership and a company with limited liability.
A Limited Liability Partnership (LLP) combines the flexibility of a partnership with the limited liability of a company. Partners are not personally liable for the LLP's debts, and compliance is lighter than a company. CASYST handles name reservation, incorporation and the LLP agreement from start to finish.
What is Limited Liability Partnership?
An LLP is a separate legal entity registered under the Limited Liability Partnership Act, 2008. It has at least two partners, and at least two of them must be designated partners, one of whom is resident in India.
Each partner's liability is limited to the agreed contribution, except for their own wrongful acts. There is no minimum capital requirement, and internal management is set by the LLP agreement.
Who needs Limited Liability Partnership?
- Professionals such as chartered accountants, lawyers and consultants
- Small and medium businesses run by two or more partners
- Startups that want limited liability without company-level compliance
- Family businesses looking for a flexible structure
LLPs are not the best fit if you plan to raise venture capital through equity. In that case a Private Limited Company is usually preferred.
Benefits of Limited Liability Partnership
Limited liability
Partners are generally not personally liable for the LLP's obligations.
Separate legal entity
The LLP can hold assets, sign contracts and continue despite changes in partners.
No minimum capital
You can start with the contribution that suits your business.
Flexible management
The LLP agreement sets roles, profit sharing and decision-making.
Lighter compliance
Simpler ongoing filings than a private company, with audit required only above prescribed limits.
Eligibility
- At least two partners, with two designated partners
- At least one designated partner must be resident in India
- The LLP must carry on a lawful business with a view to profit
- A registered office address in India
Documents required
- PAN card and Aadhaar card of all partners
- Passport-size photographs of the partners
- Address proof of each partner
- Proof of registered office address with NOC from the owner
- Digital Signature Certificate for designated partners
- Partners' contribution details for the LLP agreement
Limited Liability Partnership process
- 1Step 1
DSC and DPIN
We obtain Digital Signature Certificates and designated partner identification numbers.
- 2Step 2
Name reservation
We check availability and reserve the LLP name with the Registrar.
- 3Step 3
Incorporation filing
We file the incorporation application with the registered office and partner details.
- 4Step 4
Certificate of Incorporation
On approval the LLP receives its incorporation certificate and LLPIN.
- 5Step 5
LLP agreement
We draft and file the LLP agreement within the prescribed time after incorporation.
- 6Step 6
PAN, TAN and bank account
We help you complete tax registrations and open the LLP's bank account.
Compliance and taxation
- File the annual return and the statement of account and solvency each year
- File the LLP's income tax return, with an audit where the limits are crossed
- Report any change in partners or designated partners within the time limit
- Keep the LLP agreement updated and file changes with the Registrar
- Complete KYC for designated partners every year
LLP name rules
- The name must end with LLP or Limited Liability Partnership
- It must not be identical to an existing LLP, company or trademark
- It should not suggest government links or restricted words
- Reserve the name before filing incorporation
LLP vs Private Limited Company
| Point | LLP | Private Limited Company |
|---|---|---|
| Governing law | LLP Act, 2008 | Companies Act, 2013 |
| Ownership | Partners | Shareholders |
| Raising equity | Limited | Easiest |
| Compliance | Lighter | Higher |
| Audit | Only above set limits | Mandatory |
The LLP incorporation certificate
On approval the Registrar issues a certificate of incorporation that records the LLP's name, LLPIN and date of incorporation. It is proof that the LLP exists as a separate legal entity, and you will need it for the bank account, tax registrations and licences.
How long does incorporation take?
Timelines depend on document readiness and on how quickly the authority reviews and responds, so we give you an estimate for your case at the start and keep you updated at each stage.
Related services
Limited Liability Partnership cost
Our Limited Liability Partnership package starts from ₹12,999. Government fees, stamp duty and other statutory charges are separate and depend on your state and the exact filing involved. We give you a clear, itemised quote before we start, with no hidden charges.
Get a QuoteLimited Liability Partnership checklist
- DSC and DPIN
- Name reservation
- Incorporation filing
- Certificate of Incorporation
- LLP agreement
- PAN, TAN and bank account
Frequently asked questions
At least two partners, including two designated partners, of whom at least one must be resident in India.
No minimum capital is required. Partners contribute the amount agreed in the LLP agreement.
LLPs file an annual return and a statement of account and solvency, plus an income tax return. We keep track of the dates for you.
Only where turnover or contribution crosses the prescribed limits. We confirm the current thresholds.
LLPs are taxed as a separate entity on their profits, and partners' share of profit is not taxed again in their hands. We confirm rates at filing time.
Ready to register Limited Liability Partnership?
Join 500+ businesses who leverage CASYST for seamless, high-integrity legal operations.