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You are here: Home / FAQs / What is the difference between a Limited Liability Partnership (LLP) and a Private Limited Company?
FAQ : Company Incorporation / Corporate Structures

What is the difference between a Limited Liability Partnership (LLP) and a Private Limited Company?

A Limited Liability Partnership (LLP) is a partnership in which some of the partners have limited liabilities. A limited liability partnership structure is a cross hybrid between a partnership and a private limited company. The structure is highly suitable for individuals engaged in professional services. Non-resident individuals and foreign entities may also register an “LLP” but must appoint a local resident manager.

Structure of Limited Liability Partnership Formation (LLP)

The advantage of a limited liability partnership  structure is

  • it is relatively low cost to operate
  • has  limited liability protection
  • easy to closed the structure

Tax Disadvantage 

The main disadvantage of a limited liability partnership is the tax rates are based on the personal income tax rate rather than corporate tax, which is much lower. This makes it highly tax-inefficient if your LLP falls on the higher tax brackets.

Tax comparison between Corporate and LLP

To learn more about the other differences between a Limited Liability Partnership and a Private Limited Company, please view this Comparison Chart.

Incorporate Private Limited CompanyIncorporate Limited Liability Partnership



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