Limited Liability Partnership (LLP)

Overview

An LLP gives you the protection of a company with the internal freedom of a partnership. It is a separate legal entity under the Limited Liability Partnership Act, 2008, so it holds property and signs contracts in its own name and continues irrespective of changes among the partners.

Liability is limited to what each partner agreed to contribute, and — the part that matters in a professional practice — one partner is not personally liable for another partner's wrongful act. How profits are split, who decides what, how a partner joins or exits: all of it is set by the LLP agreement rather than a fixed statutory template.

Compliance is lighter than a company's. There is no mandatory board or general meeting, and the annual filing is the return plus the statement of account and solvency. It is a common choice for consultancies, agencies and family firms that want protection without a company's ceremony. We draft the agreement around how you actually work, complete the incorporation, and keep the annual filings on schedule.

Why choose this

Benefits of Limited Liability Partnership (LLP)

• Partners are protected

  Liability is limited to each partner's agreed contribution, and one partner is not liable for another's misconduct.

• Separate legal entity

  The LLP holds assets and enters contracts in its own name, and continues irrespective of changes among the partners.

• Lighter ongoing compliance

  Fewer filings and no mandatory board or general meetings compared with a private limited company.

• Flexible internal terms

  Roles, profit shares and decision-making are set by the LLP agreement rather than a fixed statutory template.

How it works

1. 01

   Partners and contribution confirmed

2. 02

   Digital signatures and designated partner numbers

3. 03

   Name reserved with the Registrar

4. 04

   Incorporation filed

5. 05

   LLP agreement drafted and stamped

6. 06

   Agreement filed and certificate handed over