Limited liability with far lighter annual compliance than a company. Suited to professional firms and businesses that are not raising outside investment.
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TIMELINE
MINIMUM MEMBERS
GOVERNED BY
BEST FOR
We check availability against the MCA register and existing trademarks, then reserve the name.
DSCs are issued for each designated partner and DPIN is allotted through the incorporation filing.
The incorporation form is filed with the Registrar along with partner consents and office proof.
The agreement defining profit share, capital and partner duties is drafted and filed in Form 3 within 30 days of incorporation.
The LLP Agreement must be filed within 30 days of incorporation. Miss it and the penalty runs at a daily rate with no upper ceiling, which is how dormant LLPs end up with liabilities far larger than the cost of registration. We file it as part of the engagement rather than leaving it to you.
Yes. An LLP has no mandatory audit until turnover crosses 40 lakh or contribution crosses 25 lakh, and fewer annual filings, so recurring compliance cost is materially lower.
In practice, no. Venture investors and most angels will not fund an LLP because it cannot issue equity shares or ESOPs. If you expect to raise, register a Private Limited instead.
No. Partners can contribute any amount, and contribution can be in cash or in kind as recorded in the LLP Agreement.
Yes, conversion is permitted, but it is a fresh incorporation process with its own cost and timeline. Choosing correctly at the start is cheaper than converting.
Form 11 annual return and Form 8 statement of accounts and solvency, plus the income tax return. These are due every year regardless of whether the LLP traded.
Tell us about your firm and we will confirm the documents and full cost.
