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Company Formation

Limited Liability Partnership

A Limited Liability Partnership (LLP) is similar to an ordinary partnership in that a number of individuals or limited companies, known as the “Members”, share in the risks, costs, responsibilities and profits of the business. The difference is that liability is limited to the amount of financial contribution they have invested in the business and to any personal guarantees they have given to raise finance. This means that members have some protection if the business runs into trouble.

What are the main features of a Limited Liability Partnership?

An LLP does not have a share capital or a set of Memorandum and Articles of Association; Members of an LLP can instead choose to put in place a Limited Liability Partnership Agreement that binds all the members; There is no requirement that the agreement should be filed with Companies House; An LLP must have a minimum of two people who have the intention of starting lawful trade and with a view to make profit. There is no maximum number of people that can join an LLP; A non-resident person can be a member of an LLP; An LLP also requires a registered office address which must be based in the UK and cannot be a PO Box or otherwise. LLP is commonly used legal structure by professional practices such as accountants, lawyers, architects, etc.

What comes with your package?

Same day online formation service Printed certificate of incorporation Free LLP Agreement Selection of your first accountant with us Free incorporation service if you choose our accountants


Limited Liability Partnership
Free with our one year Professional diamond accounting service package