A Limited Liability Partnership (LLP) combines the benefits of both a registered company and a partnership firm. It offers partners the flexibility of a partnership while providing limited liability protection. At Asktrix, we provide comprehensive LLP registration services with expert guidance throughout the entire process.
A Limited Liability Partnership (LLP) is a hybrid business structure that combines the benefits of a partnership firm with the limited liability protection of a company. It allows partners to manage the business directly while protecting their personal assets from business liabilities.
LLPs are governed by the Limited Liability Partnership Act, 2008, and are ideal for professionals, consultants, and service-based businesses looking for operational flexibility with liability protection.
The following documents are essential for LLP registration:
To register an LLP, the following criteria must be met:
Our streamlined process ensures quick and hassle-free LLP registration:
Obtain DSC for designated partners to enable online document signing and filing.
Apply for DIN for all designated partners through Form DIR-3.
Submit LLP name for approval through RUN-LLP service.
Prepare LLP agreement defining partners' rights, duties, and profit-sharing ratio.
Submit FiLLiP form with all required documents and information.
Receive Certificate of Incorporation and commence business operations.
File LLP agreement with Registrar within 30 days of incorporation.
LLPs must comply with various regulations under the Limited Liability Partnership Act, 2008:
Post-registration, LLPs must fulfill various compliance obligations:
Find answers to common questions about LLP registration in India.
An LLP requires a minimum of 2 partners and can have unlimited partners. At least one partner must be a resident of India.
Yes, an LLP can be converted into a private limited company by following the prescribed procedure under the Companies Act, 2013.
LLP provides limited liability protection to partners, while in a partnership firm, partners have unlimited liability. LLP also has separate legal entity status.
No, there is no minimum capital requirement for LLPs. Partners can contribute any amount as per their agreement.
Yes, foreign nationals can be partners in an LLP, but at least one partner must be a resident of India.
LLPs are subject to income tax at 30% (plus surcharge and cess), GST (if applicable), TDS, and other statutory taxes based on their business activities.
With Asktrix, LLP registration typically takes 10-15 working days, depending on document verification and government processing time.
Yes, LLPs can raise funds from investors, but they cannot issue shares like companies. Funding is typically through capital contributions or loans.
Digital Signature Certificates are typically valid for 1-2 years and need to be renewed before expiry to continue online filing activities.
Audit is mandatory for LLPs with turnover exceeding ₹40 lakhs or contribution exceeding ₹25 lakhs in any financial year.
Starting your LLP with Asktrix provides not only legal registration but also ongoing support for compliance and growth. Explore a smooth path to business success and secure your partnership's future with Asktrix professional guidance and support. For new clients tax saving guidance will come at free of cost. For more details fill the form and get the benefits