How To Register a Limited Liability Partnership?

Registering a Company is quick, easy, and can be done online with Numbro in 3 simple steps:

We analyze your business model and provide support to set up a legal structure for your business.

We analyze your business model and provide support to set up a legal structure for your business.

We assist in obtaining applicable statutory registrations and company incorporation.

We assist in obtaining applicable statutory registrations and company incorporation.

Provide an overview of applicable registration certificates along with a compliance process chart for your reference.

Provide an overview of applicable registration certificates along with a compliance process chart for your reference.

LIMITED LIABILITY PARTNERSHIP

Limited Liability Partnership (LLP)

A Limited Liability Partnership (LLP) is a modern form of partnership that combines elements of both partnerships and companies. In an LLP, partners have limited liability, meaning they are not personally responsible for the debts of other partners.

LLPs provide a transparent and well-defined structure, allowing professional firms to collaborate efficiently on projects. Numbro assists businesses with online and offline LLP registration in Hyderabad, providing guidance throughout the process.

    Advantages of Registering Limited Liability Partnership

    Benefits of limited liability and flexibility in partnership.
    No Restriction on Number of Partners – An LLP can have any number of partners, providing flexibility for business growth.
    Audit Requirement – An LLP is required to undergo an audit only if its turnover or transactions exceed specified thresholds.
    Protection for Individual Partners – Partners are not personally liable for the independent or unauthorized actions of other partners.
    No Minimum Contribution Required – Partners can contribute tangible, movable, or intangible property as their share in the LLP.
    Lower Registration Costs – LLP registration typically involves minimal fees compared to other business structures.
    Hybrid Structure with Clear Partner Agreement – The rights and duties of partners in an LLP are defined by a partnership agreement. LLP combines features of both a corporate structure and a traditional partnership, making it a hybrid entity.

    FAQ's

    Who is a designated partner in LLP?

    “Designated partner” in reference to Limited Liability Partnership means any partner designated as such according to section 7 of Limited Liability Partnership Act 2008. Every limited liability partnership shall have at least two designated partners, who are individuals and at least one of them shall be a resident of India, who shall be responsible for all the actions taken by the company, matters and things required to be done by the limited liability partnership in respect of compliance of the provisions of this Act.

    What is a Limited Liability Partnership?

    A limited liability partnership (LLP) resembles entity like partnership, in which partners have limited liabilities. Whereas, in traditional Partnership firm we have unlimited Liabilities of the Partners. Therefore it exhibits the elements and features of partnerships and corporations.

    What is DSC?

    Digital Signature Certificate (DSC) is a secured electronic format of signature which is used for signing electronic & online documents, forms for e-tenders, ROC requirements, IT & PF returns, etc.

    What is DIN?

    DIN stands for Director Identification Number which is unique and is issued on request of the ROC to every person who intends to become a director. DIN is mandatory for a person to be appointed as Director.

    What is an LLP Agreement?

    An LLP agreement is a written understanding between partners that ascertains the profit sharing ratio among the partners, remuneration to the partners, objects of the LLP, registered office details and all the other key information that describe the way the business would be conducted and the key personnel who would be handling the business. An LLP Agreement can be changed as per the requirements of the partners in LLP.

    What is Limited Liability Partnership registration certificate?

    A signed statement by the Registrar of Companies that the Limited Liability Partnership is duly incorporated under the respective statute and is an exclusive evidence that the LLP has been formally Incorporated and all the procedures prescribed under the act has been fulfilled.

    What is share capital and what is the minimum share capital for starting a Limited Liability Partnership?

    There is no requirement for Minimum capital contribution for a LLP.

     
    How many members are required for starting a Limited Liability Partnership?

    There must be a Minimum of Two Designated Partners and one of them must be Resident of India. There is no Maximum cap on number of Partners in LLP.

    Who can start a Limited Liability Partnership?

    A minimum of two partners will be required for formation of an LLP. There is no limit to the maximum number of partners. Any individual or corporate body can be a partner in LLP.

     
    Which form of business can be converted into Limited Liability Partnership?

    A private Limited company can be converted into LLP but not vice versa. A partnership firm can be converted to LLP.

    Can an NRI start a Limited Liability Partnership in India?

    Non-resident Indians or individuals who do not reside in India for over 182 days cannot incorporate an OPC. Yes, an NRI can start LLP in India, however, there shall be at least one resident Partner in the proposed LLP.

    Can an LLP be converted into Private Limited Company?

    Conversion of LLP into Private Limited Company is not allowed under LLP Act, 2008 and Companies Act 2013. Necessary amendments in the act are awaited

    What are the yearly compliances with respect to ROC (companies act)?

    A Statement of Disclosure of Shareholders and Directors has to be filed within 60 days of the date of Annual General Meeting. Annual Accounts is to be filed before 30th October every year.

    What are the yearly compliances applicable for a Limited Liability Partnership?

    Income Tax: A Limited Liability Partnership has to pay an advance tax on quarterly basis if the tax liability payable during the year is more than INR 10,000 and has to file income tax return on a yearly basis.

    Goods & Services Tax (G.S.T): If the Limited Liability Partnership taxable turnover exceeds Rs.20,00,000 it is liable to be registered under G.S.T and compliances applicable to GST Act have to be complied with.

    I reside outside Hyderabad/Telangana can I get services from you?

    Absolutely you can avail our services from anywhere within/outside India. As most of the procedural aspects are Online, the experienced team at Numbro will guide in all the procedural aspects of getting the company Registered.

    Types of Government Registrations

    Features for this type or Registration

    Recommended for:

    Ease of Accommodating Investment

    Limited Liability Protection

    Tax Advantages

    Perpetual Existence

    Statutory Compliances

    Private Limited Company
    • Start-ups & growing companies
    • Very easy to accommodate
    • Yes
    • Few benefits
    • Yes
    • High
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    Limited Liability Partnership
    • Professional services firms
    • Possible, but unlikely
    • Yes
    • Most efficient
    • Yes
    • Low
    One Person Company
    • Sole promoters
    • Possible, but severely unlikely
    • Yes
    • Few benefits
    • Yes
    • High
    View More
    Partnership Firm
    • Home businesses
    • Almost impossible
    • No
    • Minimal
    • No
    • Minimal
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    Sole Proprietorship
    • Small traders and manufacturers
    • Impossible
    • No
    • Impossible
    • No
    • Impossible
    View More

    Disclaimer: We are a private consultancy firm providing advisory and application support services related to business registration and compliance. We are not a government agency and we do not issue or provide government documents or certificates.