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Comparison Chart of UK LLP with Indian LLP

by veena

Comparison Chart of UK LLP with Indian LLP

S. NoConditionsUK LLPIndian LLP
1.Introduction of LawIn the Year 2000 with the nomenclature Limited Partnership Act, 2000In the Year 2008 with the nomenclature Limited Partnership Act, 2008
2.RegistrationRegistration with Companies House required.Registration with Registrar of Companies required.
3.RegistrationDocument LLP AgreementLLP Agreement
4.Distinctentity Is a separate legal entity under the Limited Liability Partnership Act, 2000.operating under a combination of partnership and company law.Is a separate legal entity under the Limited Liability Partnership Act, 2008
5.Name of EntityName to contain ‘Limited Liability Partnership’ or ‘LLP’ as suffixName to contain ‘Limited Liability Partnership’ or ‘LLP’ as suffix
6.No of MembersMinimum 2 partners and atleast 2 of the partners must be designated membersMinimum 2 partners and atleast 2 of the partners must be designated members
7.Foreign PartnershipForeign Nationals can be a Partner in a LLP and both the partners can be from any nationalityForeign Nationals can be a Partner in a LLP.
8.ContributionA matter of commercial/economic negotiation.Obligation of partners as per the LLP agreement.
9.Cost of FormationThe cost of Formation is statutory filling fees, comparatively lesser than the cost of formation of Company.The cost of Formation is statutory filling fees, comparatively lesser than the cost of formation of Company.
10.Liability of Partners/MembersLimited, to the extent their contribution towards LLPLimited, to the extent their contribution towards LLP, except in case of intentional fraud or wrongful act of omission or commission by the partner

Comparison Chart of UK LLP with Indian LLP

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