Limited Liability Partnership (LLP)
Limited Liability Partnership (LLP) Registration in Hyderabad
LLP is an alternative corporate business form that provides the benefits of limited liability, similar to a company, while offering the flexibility of a partnership.
The LLP is a separate legal entity and is liable to the full extent of its assets. However, the liability of the partners is limited to their agreed contribution in the LLP. Furthermore, no partner is liable for the independent or unauthorized actions of other partners, protecting individual partners from joint liability arising from another partner’s wrongful business decisions or misconduct.
We at VPS and Associates have extensive experience in incorporating Limited Liability Partnership (LLP) firms in Hyderabad. Generally, professionals such as doctors and lawyers prefer LLPs over companies.
What is the difference between LLP and traditional partnership firms?
- In a traditional partnership firm, every partner is liable jointly and severally for all acts of the firm while they are a partner.
- In an LLP structure, the liability of the partner is limited to their agreed contribution.
Can a charitable activity be carried out under an LLP?
No. The essential requirement for setting up an LLP is ‘carrying on a lawful business with a view to profit’.
How many people are required to start an LLP?
A minimum of two partners are required to form an LLP. There is no maximum limit on the number of partners.
Can a company be a partner in an LLP?
Yes. A company can be a partner in an LLP.
Who is a designated partner?
Every LLP must have at least two Designated Partners, who must be individuals, and at least one of them must be a resident of India. If all partners in an LLP are body corporates, then at least two individuals who are partners of such LLP or nominees of such body corporates must act as designated partners.
Where is the LLP to be registered?
LLPs are registered with the Registrar of Companies (ROC).
Can foreigners incorporate an LLP?
Yes, the LLP Act allows foreign nationals, including foreign companies and LLPs, to incorporate an LLP in India, provided at least one designated partner is a resident of India. However, the LLP and its partners must comply with all relevant Foreign Exchange Laws, Rules, Regulations, and Guidelines.
Looking for Other Forms of Business Registration?
If you are not looking for LLP registration, explore other business entity registration options:
- Setting up of Proprietary Concern in Hyderabad
- One Person Company (OPC) Registration in Hyderabad
- Partnership Firm Registration in Hyderabad
- Private Limited Company Registration
- Subsidiary Company Registration in Hyderabad
- Setup Branch / Liaison Office in India
Other Registrations Required After LLP Registration (Depending on Business Type):
- GST Registration
- Registration under Telangana Shops and Establishment Act
- Profession Tax Registration
- MSME | Udyog Aadhaar Registration
- Employee Provident Fund Registration (PF Registration)
- Employee State Insurance Registration (ESI Registration)
- STPI Registration or Non-STPI Registration
- Import Export Code (IEC)
- Trade License from GHMC
At VPS and Associates, we are committed to providing seamless business registration services tailored to your needs. Contact us today for expert assistance in setting up your LLP in Hyderabad.
