Principal LegislationThe Limited Liability Partnership Act, 2008An LLP is governed by the provisions of the Limited Liability Partnership Act, 2008.
Sepaate Legal EntityYesOnce registered, is a separate Legal entity and can carry out its operations in its own name.
RegistrationMandatoryMust be mandatorily registered to commence its operations.
Number of MembersMinimum of 2 Designated PartnersRequires a minimum of 2 Designated Partners with no bar on the maximum number of Partners.
LiabilityLimitedLiability of Partners is Limited
Transfer of SharesSubject to Agreement Composition of the Partners can be modified based on the terms of the Agreement.
ComplianceModerateThe Degree of compliance is moderate as compared to that of Companies.
DirectorNoneA Limited Liability Partnership has no concept of Directors. This form of entity has Designated Partners and other Partners.

Documents Required

  1. PAN Card of all the Partners.
  2. Digital Signature Certificate (DSC) of all the Partners.
  3. Proof of address (POA) of all the Partners.
  4. Address Proof of the Registered Office.
  5. No Objection Certificate (NOC) of the owner of the Registered Office.
  6. Rent Agreement of the Registered Office if applicable.
  7. Any other documents based on the specific requirements if any.