What is an LLP?#
A Limited Liability Partnership combines partnership and company benefits. Partners have limited liability.
Features#
- Separate legal entity
- Limited liability for partners
- Minimum 2 partners, no maximum
- Minimum 2 designated partners
- No minimum capital requirement
Eligibility#
- At least 2 designated partners
- One partner must be Indian resident
- DIN for designated partners
- DSC for signatories
- Registered office in India
Documents Required#
- PAN cards of partners
- Address proofs
- Office address proof
- LLP agreement
Registration Process#
- Apply for DSC
- Apply for DIN
- Reserve name
- File FiLLiP form
- Get incorporation certificate
- Apply for PAN/TAN
- Draft LLP agreement
LLP Agreement#
- Defines rights and duties
- Must be filed within 30 days
- Stamp duty varies by state
Cost & Timeline#
- Processing time: 15-20 days
- Government fees: Rs 500-2,000
- Professional fees: Rs 5,000-10,000