A Limited Liability Partnership (LLP) is a legal structure that combines the flexibility of a partnership with the benefits of limited liability for its partners. It is governed by the LLP Act, 2008 and is suitable for professional firms, startups, and small businesses.
LLPs offer easier compliance, limited liability protection, and perpetual succession, making them a preferred choice for many entrepreneurs.
Obtain Digital Signature Certificates (DSC) for all designated partners.
Apply for Director Identification Number (DIN).
Reserve the name of the LLP via the RUN-LLP form on MCA.
Incorporate the LLP using FiLLiP form with required documents.
Draft and file the LLP Agreement within 30 days of incorporation.
Yes, LLP must be registered with the Ministry of Corporate Affairs (MCA).
Minimum two designated partners are required to form an LLP.
LLPs offer limited liability, flexible operations, and easy compliance.