25+ YEARS
OF LEGAL EXPERIENCE
Legal counsel for entrepreneurs, professionals, investors and businesses on LLP formation, structuring, LLP agreements and related legal and regulatory requirements in India.
A Limited Liability Partnership (LLP) combines the flexibility of a partnership structure with limited liability for its partners. It can be an appropriate structure for professionals, entrepreneurs, businesses and joint ventures where the partners seek flexibility in managing their affairs while maintaining a separate legal entity.
Rajkishore Associates advises clients on the establishment and structuring of LLPs in India, including the legal documentation, partner arrangements, incorporation process and ongoing regulatory requirements associated with an LLP.
An LLP is a separate legal entity from its partners. The structure provides flexibility in determining the rights and responsibilities of partners through an LLP agreement, while generally limiting the liability of partners in accordance with applicable law.
An LLP may be suitable where the participants want a flexible partnership-based management structure without adopting the conventional corporate structure of a private limited company.
An LLP has a legal identity separate from its partners and can own property, enter into contracts and conduct business in its own name.
The LLP structure generally limits the personal liability of partners, subject to the provisions of applicable law and the circumstances of each matter.
The rights, duties and responsibilities of partners can be structured through an LLP agreement to suit the requirements of the business.
LLPs may be considered by professional practices, entrepreneurs, family businesses, joint ventures and other businesses seeking a flexible legal structure.
Partners can establish detailed arrangements governing management, decision-making, contributions, profit sharing and other matters through the LLP agreement.
An LLP can provide a limited liability structure for its partners, subject to applicable statutory provisions and the circumstances of the business.
The LLP operates as a separate legal entity, allowing the business to enter into contracts and hold assets in its own name.
The LLP structure allows partners to establish arrangements appropriate to their respective contributions, responsibilities and commercial objectives.
The incorporation of an LLP involves a number of legal, documentation and regulatory steps. The precise requirements may vary depending on the proposed partners, business activity and circumstances of the LLP.
Determine the proposed business activity, partners, designated partners, contribution arrangements and management structure.
Identify an appropriate name for the LLP and complete the applicable name reservation process with the Ministry of Corporate Affairs.
Prepare the incorporation documentation and details relating to the proposed LLP, partners and designated partners.
File the applicable incorporation application and supporting documents with the Ministry of Corporate Affairs.
Upon approval and completion of the applicable process, the LLP is incorporated and receives its LLP identification details.
Prepare and execute the LLP agreement setting out the rights, duties, contributions, profit sharing and other arrangements between the partners.
The documents required may vary depending on whether the partners are individuals or entities and whether any foreign investment or other regulatory considerations are involved.
Identity and address documents and other prescribed information relating to the proposed partners and designated partners.
Documents relating to the proposed registered office of the LLP, as applicable to the circumstances of the premises.
Information regarding the proposed business activities, contribution of partners and proposed structure of the LLP.
A suitably drafted LLP agreement setting out the commercial and legal arrangements between the partners.
Advice on the suitability and structure of an LLP based on the proposed business and commercial objectives.
Assistance with name selection, reservation and the legal and documentation aspects of LLP incorporation.
Drafting and review of LLP agreements governing the rights, obligations and responsibilities of the partners.
Advice on partner contributions, profit sharing, management, decision-making and other partner arrangements.
Advice on LLP structures involving foreign investors, subject to applicable foreign investment regulations.
Advice on applicable corporate and regulatory requirements associated with the LLP.
Legal advice relating to the conversion of eligible existing businesses into an LLP structure.
Continuing legal advice on partner matters, restructuring, agreements and other LLP-related requirements.
LLP formation involves more than completing an incorporation application. The choice of structure, partner arrangements, contribution, management rights and LLP agreement can have significant implications for the future operation of the business.
Rajkishore Associates advises entrepreneurs, professionals, businesses and investors on the legal structuring of LLPs, with a focus on practical solutions aligned with the commercial objectives of the proposed business.
An LLP is a separate legal entity that combines features of a partnership structure with limited liability for its partners, subject to applicable law.
An LLP requires at least two partners. The LLP must also have designated partners in accordance with the applicable provisions of the Limited Liability Partnership Act, 2008.
Yes. At least one designated partner of an LLP must satisfy the applicable requirement of being resident in India.
The documents depend on the partners and the circumstances of the proposed LLP. They generally include identity and address information of the partners and designated partners, registered office documentation and details of the proposed business.
Yes. The LLP agreement is an important document governing the rights and obligations of the partners and the internal arrangements of the LLP.
Foreign investment in LLPs is subject to the applicable foreign investment framework, including the nature of the business activity and the conditions applicable to the proposed investment.
An LLP is generally taxed as a partnership firm under the Income Tax Act, 1961. For Assessment Year 2026–27, an LLP is taxable at a rate of 30% on its taxable income, subject to applicable surcharge and Health & Education Cess. An LLP may also be subject to Alternative Minimum Tax (AMT) in specified circumstances.
Certain existing firms and eligible entities may be capable of conversion into an LLP subject to the applicable legal requirements and conditions.
The time required depends on factors including name availability, completeness of documentation, government processing and whether any clarification or resubmission is required.
An LLP is subject to applicable statutory and regulatory filings and compliance requirements. The specific requirements depend on the LLP's circumstances and activities.
Rajkishore Associates can advise on LLP structuring, partner arrangements, incorporation documentation, LLP agreements, foreign investment considerations and related legal and regulatory matters.
Contact Rajkishore Associates to discuss your LLP formation, structuring, partner arrangements and related legal requirements.
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