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Limited Liability Partnership (LLP)

Designated partners, the LLP Agreement, FiLLiP filing — and when an LLP is the smarter choice.

7 lessons · read in order, or jump to what you need

MCA data · Financial Year basis

LLP in No’s

Registered since FY 2016-17
5,18,847
(24.0%) of all 21,61,174 companies and LLPs
FY 2025-26
95,965
(27.9%) of that year's registrations
FY 2026-27 so far (Apr–Sep)
59,849
(30.7%) of registrations this year

About 1 in every 4 registrations since FY 2016-17 was an LLP — and the share is rising: from (23.1%) in FY 2016-17 to (27.9%) in FY 2025-26, and (30.7%) so far in FY 2026-27.

See the year-by-year table and charts →PVT. LTD. vs LLP: what 10 years of data shows →Which businesses register in India →

Source: Ministry of Corporate Affairs monthly incorporation data. FY 2021-22 excludes three months the MCA did not publish (Nov 2021, Jan 2022, Mar 2022).

Lessons

  1. 1What is an LLP?An LLP (Limited Liability Partnership) is a business registered under the LLP Act, 2008 that is a separate legal entity, with flexible pr...
  2. 2Partners and designated partners in an LLPAn LLP needs at least two partners and at least two designated partners who are individuals, one of them resident in India. Designated pa...
  3. 3LLP Agreement: Meaning, Partner Rights and Profit SharingAn LLP Agreement is the written contract between partners that sets contribution, profit share, rights, duties, entry and exit. It is fil...
  4. 4LLP Registration Forms: RUN-LLP and FiLLiP ExplainedLLP Registration is done online on the MCA portal: reserve the name through RUN-LLP, file Form FiLLiP for incorporation, receive the cert...
  5. 5Capital contribution in an LLPThere is no minimum capital contribution for an LLP. Partners can contribute money, property or services, and the amount matters because ...
  6. 6LLP Annual Compliance: Form 8, Form 11, Audit and Due DatesUnderstand LLP annual compliance, Form 8 and Form 11, audit tests, tax returns, late fees, event-based filings and obligations with no bu...
  7. 7When an LLP is the wrong choiceAn LLP is the wrong choice if you plan to raise equity funding, offer ESOPs, list publicly or take foreign investment in restricted secto...

More guides on Limited Liability Partnership (LLP)

Registering an LLP? What to expect from your service provider

When you register an LLP, you can expect at least the following from your service provider, in the order each happens.

10 items

Before incorporation

Digital signatures, MCA access and name approval, so the forms can be filed.

  1. 1
    2 Class 3 Digital Signature Certificates (DSC)One for each of the two designated partners, valid for 2 years, used to sign MCA forms.
  2. 2
    MCA login for partnersAccounts on the MCA portal, needed to file the LLP's forms.
  3. 3
    LLP Name Approval Letter from the MinistryThe name is approved by the Ministry of Corporate Affairs through the RUN-LLP form.

At incorporation

Partner IDs, the LLP's certificate and tax numbers.

  1. 4
    2 Designated Partner Identification Numbers (DPIN)Allotted to the two designated partners at the time of incorporation, through the FiLLiP form.
  2. 5
    LLP Registration Certificate from the MinistryThe Certificate of Incorporation issued by the Registrar, with the LLP Identification Number (LLPIN).
  3. 6
    Permanent Account Number (PAN)The LLP's income tax number, issued with incorporation.
  4. 7
    Tax Deduction and Collection Account Number (TAN)Needed to deduct tax at source (TDS), issued with incorporation.

After incorporation

The LLP Agreement, which sets how the partners work together.

  1. 8
    LLP AgreementCovers capital, profit sharing, duties and exit. The stamp paper is bought in the name of any one partner.
  2. 9
    Form LLP 3 (LLP Agreement filed with the MCA)Files the signed LLP Agreement with the Ministry. Due within 30 days of incorporation.
  3. 10
    Documents for opening the bank accountPapers the bank needs to open the LLP's current account.

The lessons above explain each step. For the full process, read the LLP Registration step-by-step guide. For costs and the LLP Agreement, read LLP Registration process and cost, and for what comes every year, the LLP annual compliance checklist.

Compare with the other structures

PVT. LTD. 15,19,996 registered since FY 2016-17 · (70.3%) of all Start Learning OPC 96,482 registered since FY 2016-17 · (4.5%) of all Start Learning

Still deciding? Read PVT. LTD. vs LLP vs OPC: which one should you choose?

CS. Bhavik Hariyani

About the author

CS. Bhavik Hariyani

Working with Startups on Corporate Law and Compliance since 2009.

If you’re a First-Time Founder, choose a structure that suits your Business. Before registering, understand how much you will need to spend every year on Annual Maintenance and Compliance.