A Limited Liability Partnership (also known as a LLP) is a business structure that is registered with Securities Exchange Commission of Pakistan (SECP). The business is owned and operated by several individuals and the partners share the profits and / or losses depending on their agreement. The Designated Partners are involved in day to day operations of the LLP but unlike a regular partnership firm, the liability of partners in LLP is limited. LLP is issued a National Tax Number (NTN) and taxes are paid by the LLP on its earnings. The central document that governs a Limited Liability Partnership is the partnership deed (or partnership agreement) which is made on a non-judicial legal stamp paper that clarifies the relationship between the partners, their roles and responsibilities, and their shares in the profits or losses of the partnership. Under the law, a limited liability partnership is a treated as a body corporate or a company (see definitions in Limited Liability Partnership Act, 2017 and Section 80(2)(ii) of Income Tax Ordinance, 2001). A limited liability partnership is different from regular partnership firms, sole proprietorships and limited companies. Not sure about which business structure to choose? Read our Guide.

In order to register a partnership all you need to do is submit the following documents to Securities Exchange Commission of Pakistan electronically:

(1) Partnership deed on a Rs. 1,000 non-judicial stamp paper (we can draft this for you).

(2) CNIC of all partners (front and back).

(3) CNIC of at least two witnesses (front and back).

(4) You will receive a certicate from SECP.

(5) You will then obtain a National Tax Number (NTN).

(6) Next step is to open a bank account in the name of your newly formed limited liability partnership. You will then proceed with other registrations like STRN/GST once the bank account is opened.

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Documents we require:

(1) Written Partnership deed on a Rs. 1,000 non-judicial stamp paper (we can draft this for you).

(2) Office Address, phone number and email address if any.

(3) CNIC of all partners (front and back).

(4) Residential addresses of partners.

(5) Email addresses of partners.

(6) Mobile number of partners (registered against their CNIC).

(7) CNIC of at least two witnesses (front and back).

(8) Investment of each partner and total investment size.

(9) Purpose of LLP (what will the business do).

(10) Three potential names of LLP in order of preference.

For Tax Rates on Limited Liability Partnerships (LLP) read our Tax Guide.