A Limited Liability Partnership (LLP) combines the flexibility of a traditional partnership with the limited liability protection of a company. Governed by the LLP Act, 2008, it is ideal for professional services firms, consultancies, and small businesses that want a simpler compliance framework without exposing personal assets to business risks.
Minimum 2 designated partners (at least 1 Indian citizen) no maximum limit
Partners’ liability is limited to their agreed contribution
Separate legal entity with perpetual succession
Lower compliance burden compared to Private Limited Companies
No minimum capital requirement (recommended: ₹1 lakh authorised capital)
LLP name must end with “LLP” or “Limited Liability Partnership”
Ideal for CA/CS/Law firms, consultancies, freelancers, and service-based businesses
Registration timeline: 10–15 working days and based on MCA Approval time
Step 1: Obtain DSC for designated partners
Step 2: Apply for name reservation via RUN-LLP form on MCA portal
Step 3: File FiLLiP (Form for incorporation of LLP) with MCA
Step 4: Draft and file LLP Agreement within 30 days of incorporation
Step 5: Receive Certificate of Incorporation with LLPIN
Step 6: Apply for PAN, TAN, and GST registration as needed