Overview
A Limited Liability Partnership (LLP) blends the operational flexibility of a traditional partnership with the limited-liability protection of a company. It is a separate legal entity under the LLP Act, 2008, where partners are not personally liable for the misconduct or negligence of other partners.
LLPs are popular with professionals, service firms and small businesses that want a formal structure but with lighter compliance and lower costs than a private limited company. There is no requirement for a minimum capital contribution, and the LLP agreement gives partners freedom to define their own roles, profit shares and management rules.
CorpRaasta manages the full LLP registration — DSC and DPIN for designated partners, name reservation, incorporation through the FiLLiP form, and drafting and filing of the LLP agreement — delivering a ready-to-operate LLP with PAN and TAN.
What is Limited Liability Partnership?
An LLP is a body corporate with a separate legal identity in which the partners have limited liability, governed by the LLP Act, 2008 and the mutually agreed LLP agreement. It requires a minimum of two partners, of whom at least two must be designated partners.
Why it matters
For professional firms and bootstrapped businesses that do not plan to raise equity funding, an LLP offers the protection and credibility of a corporate structure while keeping annual compliance and costs significantly lower than a private limited company.
Key features
Who needs it
Documents required
How it works
DSC & DPIN
We obtain Digital Signatures and Designated Partner Identification Numbers for the partners.
Name reservation
The LLP name is reserved through the RUN-LLP facility with the MCA.
FiLLiP filing
The incorporation form FiLLiP is filed with partner and office details.
Incorporation
The Registrar issues the Certificate of Incorporation with the LLPIN.
LLP agreement
We draft and file the LLP agreement (Form 3) defining rights, contribution and profit sharing.