Overview
A Limited Liability Partnership (LLP) is a popular business structure in India that blends the flexibility of a traditional partnership with the limited liability benefits of a company. Governed by the Limited Liability Partnership Act, 2008, an LLP is ideal for entrepreneurs, professionals, small businesses, and growing startups looking for a low-cost, compliance-friendly business entity.
In an LLP, partners share profits based on a mutual agreement and are protected from personal liability arising from the wrongful actions of other partners — making it one of the safest business models in India today.
Who is Liable for Limited Liability Partnership Registration?
LLP formation is perfect for:
- Entrepreneurs starting a new venture
- Small & medium-sized businesses
- Professional firms (CA, CS, lawyers, architects, consultants)
- Existing partnerships upgrading to a safer structure
- Startups wanting limited liability with minimal compliance
Anyone above 18 years of age (Indian or foreign national) can register an LLP with at least two partners.
Advantages of Limited Liability Partnership
- Limited Liability Protection-
Partners are not personally responsible for business debts—only their capital contribution is at risk. - Separate Legal Entity-
The LLP can own property, sign contracts, and operate independently of its partners. - Low Cost & Minimal Compliance-
Unlike a Private Limited Company, LLP compliance requirements are significantly lower and cost-effective. - No Minimum Capital Requirement-
Start your LLP even with ₹1 as capital. - Flexible Internal Structure-
Partners can decide roles, profit-sharing, rights & duties through the LLP Agreement. - Easy to Add or Remove Partners-
Firms can scale or restructure seamlessly.
For Limited Liability Partnership (LLP)
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Comparison: LLP vs Private Limited Company vs Proprietorship
| Feature | LLP | Private Limited Company | Proprietorship |
|---|---|---|---|
| Legal Status | Separate legal entity | Separate legal entity | Not a separate legal entity |
| Liability | Limited | Limited | Unlimited (personal assets at risk) |
| Compliance Cost | Low | Moderate to High | Minimal |
| Ideal For | Professionals, SMEs | Startups, growth-focused businesses | Small traders, freelancers |
| Funding Scope | Limited | High (VC/Angel funding possible) | None |
| Ownership | Minimum 2 Partners | Minimum 2 Directors/Shareholders | Single owner |
| Taxation | 30% + surcharge | 22%/25% + surcharge | Individual tax slabs |
Documents Required for LLP Registration
Below, we have given the Online LLP registration documents to use as a checklist. These are all important to proceed with the LLP registration apply online-
For Partners
- PAN Card (Mandatory)
- Aadhaar / Passport / Driving License / Voter ID
- Photographs
- Mobile number and Email id
- Latest utility bill (for address proof)
For Registered Office
- Electricity bill / Water bill / Gas bill (not older than 2 months)
- Rent agreement (if rented)
- NOC from property owne
- Photograph
Additional Requirements
- Proposed LLP Name
- Mobile number and Email id
- Capital contribution details
- Business activity description
Process for Registration of Limited Liability Partnership
- Step 1: Obtain DSC (Digital Signature Certificate) – Mandatory for filing online documents.
- Step 2: Reserve LLP Name (RUN-LLP Form) – Choose a unique, compliant business name.
- Step 3: File Incorporation Form (FiLLiP) – Submit partners’ details and documents to MCA.
- Step 4: Obtain Certificate of Incorporation – Issued by Ministry of Corporate Affairs.
- Step 5: Apply for PAN & TAN – Essential for taxation.
- Step 6: Draft & File LLP Agreement – Defines partner roles, rights & profit-sharing.
- Step 7: Start Business Operations – Your LLP is ready to operate legally.
Government Fees & Time Limit for LLP Registration
| Activity | Government Fees |
|---|---|
| Name Reservation (RUN-LLP) | ₹200 |
| FiLLiP (Incorporation Form) | ₹500–₹5,000 (based on capital) |
| LLP Agreement Filing (Form 3) | ₹50–₹1,000 (based on capital) |
We take professional fees for preparing, filing, tracking, and ensuring successful registration.
Total Time for Registration
7–10 working days, depending on MCA approvals.
After Registration Compliance for LLP
Even if there is no business activity, every LLP must file:
- Form 8 – Statement of Accounts & Solvency
- Form 11 – Annual Return of LLP
- Income Tax Return
- Books of Accounts & Audit (if turnover exceeds ₹40 lakh or contribution exceeds ₹25 lakh)
FastTrack FinTax also offers ongoing LLP compliance services to keep your business fully updated.
Penalty for Non-Compliance Under LLP
LLPs have strict penalties:
- ₹100 per day per form for late filings
- Unlimited penalties until compliance is completed
- Possible closure or strike-off by MCA
- Partners may lose credibility with banks & clients
Why Trust FastTrack FinTax for LLP Registration?
FastTrack FinTax is built on trust, expertise, and a commitment to smooth compliance. Here’s why businesses choose us:
- Expert Team of CA, CS & Corporate Lawyers End-to-end support with 100% accuracy.
- Transparent Pricing — No Hidden ChargesSimple, honest, affordable packages.
- Fastest Processing TimeGet your LLP registered with express documentation and quick MCA filings.
- Dedicated Relationship ManagerOne point of contact from start to finish.
- Post-Registration Compliance SupportWe ensure your LLP stays compliant throughout the year.
- 12,000+ Successful RegistrationsA trusted partner for thousands of entrepreneurs.
With us, LLP registration becomes fast, reliable, and stress-free.
Conclusions
A Limited Liability Partnership is one of the most efficient, affordable, and legally secure business structures in India. With minimal compliance, flexible operations, and strong credibility, LLPs are becoming the preferred choice for professionals and small businesses.
FastTrack FinTax ensures your LLP registration is smooth, fast, and fully compliant — so you can focus on growing your business while we take care of the legalities.
Frequently Asked Questions
At least two partners are required. There is no maximum limit.
Yes. There is no minimum capital requirement.
LLPs cannot raise equity funding, but they can borrow loans from banks and financial institutions.
Yes, 100% online through MCA (Ministry of Corporate Affairs).
No. Only digital signatures (DSC) are required.
Yes. At least one partner must be a resident Indian.
Filing Form 8, Form 11, Income Tax Return, and maintaining books of accounts.