Limited liability partnership (LLP)
Partnership with limited liability for professionals and joint ventures, registered with SECP.
Overview
A limited liability partnership combines a partnership's flexibility with limited liability, popular with professional firms and joint ventures.
Why it matters
An LLP combines the flexibility of a partnership with limited liability for partners. It suits professional firms and joint ventures that want shared control without the formality of a company.
Who needs this
- Professional firms such as consultants and architects
- Joint ventures between businesses
- Partnerships wanting limited liability
How it works
Who does each step, and how long it usually takes once documents are complete.
- 1Name reservationTAXWORK
LLP name approved by SECP.
1–2 days - 2LLP agreementTAXWORK
Rights, duties and profit sharing agreed in writing.
2–3 days - 3RegistrationTAXWORK
Incorporation document filed with SECP.
1 day - 4CertificateSECP
LLP registered.
Usually within a week - 5NTN and bankTAXWORK / You
Tax registration and bank account.
1–2 weeks
Documents we need
Tick what you already have, then send the list to us.
Which company type fits you?
Under the Companies Act 2017 (sections 2(49), 14, 42, 154 and 247) and the LLP Act 2017.
| Type | Members | Directors | Liability | Auditor | Best for |
|---|---|---|---|---|---|
| Single member company | 1 | 1 + nominee | Limited by shares | CMA or CA if paid-up capital under Rs 3M | Solo founders |
| Private limited | 2 to 50 | 2 | Limited by shares | CMA or CA if paid-up capital under Rs 3M | Startups and family businesses |
| Public (unlisted) | 3 or more | 3 | Limited by shares | Chartered accountant | Raising capital from many investors |
| Listed company | 3 or more | 7 | Limited by shares | Chartered accountant | Public share trading on PSX |
| Limited by guarantee | Members | 2 or 3 | Up to the guarantee | As per company type | Associations and clubs |
| Section 42 NPO | 3 or more | As per type | Licensed, no profit distribution | Chartered accountant | Charities and foundations |
| LLP | 2 or more partners | Designated partners | Limited for partners | As required | Professional firms, joint ventures |
| Foreign branch / liaison | Foreign parent | Authorised person | Parent's liability | Chartered accountant | Foreign companies entering Pakistan |
What you receive
- LLP registration certificate
- LLP agreement
- NTN
Deadlines, risks and penalties
- Annual filings with SECP are required
Mistakes we fix, and what our fee covers
Common mistakes we fix
- Annual return (Form A / Form 29) filed late, which brings SECP penalties
- Change of directors, shares or address not reported to SECP
- Company NTN and tax return not filed even when there is no income
- Beneficial ownership register not kept up to date
Included in our fee
- Name check, documents and filings on SECP eServices
- Board and shareholder resolutions drafted for you
- Company NTN and FBR profile set up or updated
- A compliance calendar for the year ahead
Law and references
The sections and rules this service is based on.
- Limited Liability Partnership Act 2017
- Taxed as an AOP under the Income Tax Ordinance
Questions
How long does it take?
About 2–3 weeks. Step by step: Name reservation (1–2 days), LLP agreement (2–3 days), Registration (1 day), Certificate (Usually within a week), NTN and bank (1–2 weeks).
What does it cost?
Our service fee is Rs 30,000 + SECP fee. Government fees are extra where they apply.
What happens if I miss a deadline?
Annual filings with SECP are required.
How is an LLP taxed?
As an association of persons, using the AOP slabs.
How many partners are needed?
An LLP needs at least two partners, with at least one designated partner.
How is an LLP taxed?
It is taxed as an AOP. We handle its NTN and returns.
Why clients choose TAXWORK
Individuals, businesses and companies across Pakistan and overseas.
Rawalpindi/Islamabad, Sialkot and Karachi (with Raza Siddiqui & Co., Chartered Accountants).
You get the scope and a fixed fee in writing before any work starts.
Progress updates, and a copy of everything we file or submit for you.
Keep reading
Related guides
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Non-filers pay double or more on bank profit, dividends, property and cars. Getting on the ATL usually pays for itself.
Read guide →Got an FBR notice? What to do in the first 48 hours
Most notices have short deadlines. Don't ignore one, and don't reply without checking your records.
Read guide →Related services
See all 63 services →Register a not-for-profit company with SECP for charities, trusts and foundations.
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View service →Companies & SECPSECP annual complianceAnnual return, director changes, share transfers and other statutory filings to keep the company in good standing.
View service →Ready to get limited liability partnership (LLP) done?
Send your documents on WhatsApp or book a meeting. A consultant confirms the scope and a fixed fee before any work starts.