Limited Liability Partnership (LLP)

📌 What is LLP?

An LLP is a hybrid structure governed by the Limited Liability Partnership Act, 2008, combining partnership flexibility with corporate limited liability.

🎯 Benefits of LLP

• Limited liability for partners.
• Separate legal identity.
• Lesser compliance burden compared to companies.
• No minimum capital requirement.
• Perpetual succession.

👥 Eligibility

• Minimum 2 partners (at least 1 resident Indian).
• No maximum limit on partners.
• Foreign partners allowed (subject to FEMA).

📑 Documents Required

• PAN & Aadhaar of partners.
• Address proof of partners.
• Office proof (ownership/rent agreement + utility bill).
• DSC of partners.
• LLP Agreement.

⚙️ Process & Timeline

1. Obtain DSC of partners.
2. File incorporation application through FiLLiP (Form for Incorporation of LLP) on MCA.
3. ROC issues LLPIN (LLP Identification Number).
4. File LLP Agreement (Form 3) within 30 days of incorporation.

⏳ Timeline: 7–12 working days.

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