Limited liability with partnership flexibility — and materially lighter annual compliance than a private limited company.
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Professional firms, family businesses and partnerships that want liability protection without the compliance load of a company. Minimum two designated partners, one resident in India.
| Minimum designated partners | 2 (one resident in India) |
|---|---|
| Minimum contribution | No statutory minimum |
| Audit requirement | Only above ₹40 lakh turnover or ₹25 lakh contribution |
| Maximum partners | No upper limit |
Proposed name checked against existing LLPs, companies and trade marks.
Digital signatures for designated partners; DPIN allotted through the incorporation form.
The incorporation form, covering DPIN allotment, name and registration together.
Issued by the Registrar with the LLPIN.
Must be filed within 30 days of incorporation. This is the step most people miss — the penalty is ₹100 per day with no ceiling, and it accrues silently.
Applied for after incorporation.
Typically 10–15 working days, plus the 30-day window for the LLP Agreement.
Annual compliance is Form 11 by 30 May and Form 8 by 30 October, each year, regardless of whether the LLP traded. Audit only kicks in above the thresholds above — which is the main saving over a private limited company.
Because it has no upper limit. An LLP that files its agreement three years late owes more than ₹100,000 in penalty on a form that takes an afternoon. We have seen dormant LLPs with penalties larger than the business ever earned.
Yes, under Section 366 of the Companies Act, though it is not a trivial filing. If you expect to raise equity within two years, incorporating as a company from the start is usually cheaper overall.
Yes. Forms 8 and 11 are due whether or not there was any activity. Non-filing is the most common reason we are called in to fix an LLP.