Introduction

If you want limited liability with less compliance, LLP (Limited Liability Partnership) is an excellent option. It combines the benefits of partnership and company structure.

What is an LLP?

LLP is a body corporate registered under the LLP Act, 2008, offering:

• Limited liability
• Operational flexibility
• Lower compliance burden

Benefits of LLP Registration

✔ Limited liability for partners
✔ No minimum capital
✔ Lower compliance cost
✔ Suitable for professional firms
✔ No dividend distribution tax

Best Suitable For

• CA, CS, lawyers, consultants
• Small & medium service businesses
• Family-run businesses
• MSMEs with stable operations

Minimum Requirements

• Minimum 2 Partners
• One designated partner resident in India
• Registered office

LLP Registration Process

1️⃣ DSC & DIN
2️⃣ Name approval
3️⃣ LLP Agreement drafting
4️⃣ Certificate of Incorporation

⏱️ Timeline: 7–10 working days

Annual Compliances

• Form 8 (Statement of Accounts)
• Form 11 (Annual Return)
• Income Tax Return