Registration of Limited Liability Partnership (LLP) with drafting and GST registration at Just Rs. 7499/- in less than 15 Days. To register a Limited Liability Partnership (LLP) with minimum of two persons above the age of 18 are required.

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Limited Liability Partnership (LLP) was introduced in India by way of the Limited Liability Partnership Act, 2008. The basic premise behind the introduction of Limited Liability Partnership (LLP) is to provide a form of business entity that is simple to maintain while providing limited liability to the owners. Since, its introduction in 2010 India, LLPs have been well received with over approx one lakhs registrations in India.

LLP is one of the easiest types of business to incorporate and manage in India with limited liabilities. With an easy incorporation process with less documentation required and simple compliance formalities for same, LLPs are preferred by Professionals, Micro and Small businesses and start-up that are family-owned or closely-held. Since LLPs are not capable of issuing equity shares to their members, LLP should NOT be chosen for any business that has plans for raising equity funds from Angel Investors, Venture Capitalist or Private Equity Funds. by issuing the shares.

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Difference between LLP & Partnership

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The cost for registration including statuary payments of LLP is normally higher than the cost for registration of a partnership firm. LLP registration can be completed through RBCS at just Rs.7499. Partnership registration can be completed through RBCS at just Rs.5499/ with drafting the deed for same also included.

Limited Liability Partnership (LLP) are registered in India under the Ministry of Corporate Affairs(MCA), Central Government. Partnership firms are registered with the Registrar of Firms, Controlled and managed by the respective State Government in which the firm is to be registered.

The main advantage and benefits of a Limited Liability Partnership over a traditional and normal partnership firm is that in a LLP, one partner is not responsible or liable for another partner's misconduct or negligence. A LLP also provides limited liability protection for the owners from the debts of the LLP. However, unlike private limited company shareholder, the partners of an LLP have the right to manage the business directly.

Limited Liability Partnership (LLP) and Partnership Firms must have a minimum of two partners to be registered. Post incorporation, a LLP can have unlimited partners. In case of a Partnership Firm, if the number of partners at any time reduces below the mandatory minimum of 2 due to death, incapacitation or resignation of a Partner, the partnership firm would stand dissolved. On the other hand, in case of a LLP, if the number of Partners reduces below 2, the sole Partner can still find a new Partner to fill the position without dissolution of the LLP.