LLP, firm or company?
The structures compared for your partners, liability and tax.
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We register limited liability partnerships with SECP under the Limited Liability Partnership Act, 2017: name reservation, the LLP agreement, incorporation, designated partners, tax registration and ongoing compliance, or conversion of an existing firm or private company into an LLP.
A limited liability partnership is a separate legal entity, registered with SECP, that is owned and run by its partners under an agreement they write themselves. It suits professional firms and businesses that want the informality of a partnership without unlimited personal liability.
Under the Limited Liability Partnership Act, 2017, any two or more persons carrying on a lawful business with a view to profit can form an LLP. The name must end with "LLP", and a reserved LLP name is held for 30 days, so the incorporation should follow quickly. The LLP agreement, which should be signed, witnessed and notarised, sets out contributions, profit sharing, designated partners, decision-making and what happens when a partner leaves. If no designated partners are named, all partners act as designated partners.
After registration, the LLP keeps books at its registered office, prepares financial statements within four months of its year end and keeps its beneficial ownership declarations up to date. An LLP's tax treatment needs careful advice, and SECP registration does not register it with FBR, so we complete its tax registration as part of the service. Existing partnerships and private companies can also convert into an LLP.
A fixed fee for registration, with conversion and ongoing compliance available.
The structures compared for your partners, liability and tax.
Names checked against the LLP naming rules and reserved.
Contributions, profit sharing, decisions and exits written clearly.
Designated partners appointed and their consents filed.
The incorporation application filed and followed through.
The LLP's FBR registration and tax position set up correctly.
Existing firms or private companies converted into an LLP.
Books, financial statements and beneficial ownership kept current.
These are the issues we see most often in LLPs formed without advice.
An agreement that is silent on exits, deadlock and new partners leaves disputes to chance.
We draft a complete agreement.An LLP name is reserved for only 30 days, so documents must be ready first.
We reserve when ready to file.SECP incorporation does not register the LLP with FBR; that is a separate step.
We complete the tax registration.How an LLP and its partners are taxed needs specific advice for your facts.
We advise before you register.Financial statements are due within four months of the LLP's year end.
We prepare them on time.Changes to the LLP agreement must be filed with SECP within a short deadline.
We file changes promptly.Partners can review documents and sign remotely, with notarisation arranged locally.
We understand the partners, the business and how profits will be shared.
Our fee and SECP's fees listed upfront.
Name reserved and the LLP agreement drafted for review.
The incorporation filed with SECP and followed through.
FBR registration, books and annual compliance set up.
Consultants, architects, engineers and other professional partnerships.
Firms that want limited liability without becoming a company.
Creative and digital businesses run by their partners.
Small companies whose shareholders want a partnership model.
Partners combining skills for a defined venture.
LLPs with partners based outside Pakistan.
An LLP sits between a partnership and a company. We bring accounting, tax and legal expertise together so the structure works for every partner.
An LLB-qualified advocate reviews every LLP agreement.
We explain the tax position before you choose an LLP.
ACCA and ICAP Chartered Accountant qualifications across the team.
Firms and private companies converted with creditors and partners in mind.
Books, statements and filings handled every year.
Every fee listed before any work starts.
Have a question that is not here? Send it to us on WhatsApp and we will reply the same day.
Tell us about the partners and the business. We will explain the structure, the tax position and every fee before any work begins.
Book your free consultationThis page is general information about our services, not tax, legal or financial advice for your specific situation. Laws, rates and deadlines change with each Finance Act and official notification.