Limited Liability Partnership and Partnership Firm

PARTICULAR LIMITED LIABILITY

PARTNERSHIP
PARTNERSHIP FIRM
Governing Law The Limited Liability Partnership Act,
2008 and various Rules made
thereunder
The ndian Partnership Act, !"#2
and various Rules made
thereunder
Registration $ompulsory %ptional
$reation $reated by law $reated by contract
&eparate Legal
'ntity
t is separate legal entity, separate
(rom its partners) designated
partners*
t is not separate legal entity (rom
partners* Partners are collectively
re(erred as (irm*
Perpetual
succession
t has perpetual succession* t does not have perpetual
succession*
$ommon &eal t denotes the signature o( the
$ompany and LLP may have its own
common seal, i( it besides to have
one*
+ot re,uired
-ormalities o(
ncorporation
.arious documents / declarations
e0ecuted in prescribed (ormats pre1
(illed in designated e1(orms are
re,uired to be (iled with R%$ along
with (iling (ee*
Partnership deed along with (orm/
a((idavit re,uired to be (iled with
Registrar o( (irms along with
re,uisite (iling (ees*
Time line t will ta2e appro0* 20 days to
incorporate 3 inclusive o( time ta2en
to obtain 4P+5
t will ta2e appro0* 6 days to
incorporate*
PARTICULAR LIMITED LIABILITY
PARTNERSHIP
PARTNERSHIP FIRM
Governing Law The Limited Liability Partnership Act,
2008 and various Rules made
thereunder
The ndian Partnership Act, !"#2
and various Rules made
thereunder
Registration $ompulsory %ptional
$reation $reated by law $reated by contract
&eparate Legal
'ntity
t is separate legal entity, separate
(rom its partners) designated
partners*
t is not separate legal entity (rom
partners* Partners are collectively
re(erred as (irm*
Perpetual
succession
t has perpetual succession* t does not have perpetual
succession*
$ommon &eal t denotes the signature o( the
$ompany and LLP may have its own
common seal, i( it besides to have
one*
+ot re,uired
-ormalities o(
ncorporation
.arious documents / declarations
e0ecuted in prescribed (ormats pre1
(illed in designated e1(orms are
re,uired to be (iled with R%$ along
with (iling (ee*
Partnership deed along with (orm/
a((idavit re,uired to be (iled with
Registrar o( (irms along with
re,uisite (iling (ees*
Time line t will ta2e appro0* 20 days to
incorporate 3 inclusive o( time ta2en
to obtain 4P+5
t will ta2e appro0* 6 days to
incorporate*