What is an LLP?
A Limited Liability Partnership (LLP) is a hybrid structure combining partnership ease with company-like liability protection. Popular among professionals, consultants, and small businesses.
LLP vs Partnership Firm
| Feature | Partnership | LLP |
|---|---|---|
| Liability | Unlimited | Limited to contribution |
| Registration | Optional | Mandatory (MCA) |
| Compliance | Minimal | Annual filings required |
| Credibility | Low | Higher (MCA regulated) |
| Audit | Only if turnover > 1 Cr | Only if turnover > 40 Lakhs |
LLP Registration Requirements
- Minimum 2 Designated Partners
- At least 1 partner must be Indian resident
- Unique LLP Name
- Registered Office in India
- LLP Agreement (within 30 days of incorporation)
LLP Registration Process
Annual Compliance
Start your LLP today. HCS provides complete registration and compliance support.