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Comparison Chart of USA LLP with Indian LLP

Comparison Chart of USA LLP with Indian LLP

S. NoConditionsUSA (California) LLPIndian LLP
1.RegistrationRegistration with California Secretary of States.Registration with Registrar of Companies required.
2.Combination of LP and LLP (LLLP)Some US States have combined LP and LLP to form LLLP (Limited Liability Limited Partnership)No such combination is exists
3.Registration DocumentForm LLP-1LLP Agreement
4.Document to furnish security for claims against LLPForm LLP-3 For Alternative Security ProvisionsNo such provision is there.
5.Distinct entityIs a separate legal entity under the Uniform Partnership Act ,1996. Each Individual States have passed Revised Uniform Partnership Act 1997 to implement LLP in their own states. It means LLP in one specific states is entirely different from otherIs a separate legal entity under the Limited Liability Partnership Act, 2008
6.Name of EntityName to contain ‘Limited Liability Partnership’ or ‘LLP’ /RLLP as suffixName to contain ‘Limited Liability Partnership’ or ‘LLP’ as suffix
7.ContributionObligation of partners as per Written Partnership AgreementObligation of partners as per the LLP Agreement.
8.Foreign PartnershipForeign Nationals can be a Partner in a LLP.Foreign Nationals can be a Partner in a LLP.
9.Cost of FormationThe cost of Formation is statutory filling fees with Form LLP-1 of US$70, comparatively lesser than the cost of formation of CompanyThe 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 LLP. In case of fraud or omission LLP is liable for partners wrongful actLimited, 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 USA LLP with Indian LLP

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