{"id":182,"date":"2022-03-22T16:26:05","date_gmt":"2022-03-22T10:56:05","guid":{"rendered":"https:\/\/filemydoc.com\/blog\/?p=182"},"modified":"2023-02-16T17:30:52","modified_gmt":"2023-02-16T12:00:52","slug":"private-limited-vs-limited-liability-company","status":"publish","type":"post","link":"https:\/\/filemydoc.com\/blog\/featured\/private-limited-vs-limited-liability-company\/","title":{"rendered":"Private Limited VS Limited Liability Company"},"content":{"rendered":"<p>Many <strong>Entrepreneurs<\/strong> starting a new business are curious and confused about the<br>difference between a <a href=\"https:\/\/filemydoc.com\/private-limited-company.html?utm_source=FMD-Website&amp;utm_medium=FMD-Blog-Page\" target=\"_blank\" rel=\"noopener\"><strong>Private Limited Company (Pvt Ltd)<\/strong><\/a> vs <a href=\"https:\/\/filemydoc.com\/limited-liability-partnership.html?utm_source=FMD-Website&amp;utm_medium=FMD-Blog-Page\" target=\"_blank\" rel=\"noopener\"><strong>Limited Liability Partnership (LLP)<\/strong><\/a>.<\/p>\n<p>Both entities offer many similar features required to run a small to large sized business, while they also differ in certain aspects.<\/p>\n<p>In this article, We will compare Private Limited Company and LLP from the viewpoint of an Entrepreneur starting a new business.<\/p>\n\n\n<figure class=\"wp-block-image size-full\"><span class=\"placeholder-el\" data-svq-align=\"\"><img loading=\"lazy\" decoding=\"async\" width=\"960\" height=\"600\" src=\"https:\/\/i0.wp.com\/filemydoc.com\/blog\/wp-content\/uploads\/2022\/03\/private-limited-company-vs-limited-liability-partnership.png?fit=45%2C28&amp;ssl=1\" alt=\"Private Limited VS Limited Liability Company\" class=\"wp-image-183 lazy\" data-srcset=\"https:\/\/i0.wp.com\/filemydoc.com\/blog\/wp-content\/uploads\/2022\/03\/private-limited-company-vs-limited-liability-partnership.png?w=960&amp;ssl=1 960w, https:\/\/i0.wp.com\/filemydoc.com\/blog\/wp-content\/uploads\/2022\/03\/private-limited-company-vs-limited-liability-partnership.png?resize=300%2C188&amp;ssl=1 300w, https:\/\/i0.wp.com\/filemydoc.com\/blog\/wp-content\/uploads\/2022\/03\/private-limited-company-vs-limited-liability-partnership.png?resize=768%2C480&amp;ssl=1 768w, https:\/\/i0.wp.com\/filemydoc.com\/blog\/wp-content\/uploads\/2022\/03\/private-limited-company-vs-limited-liability-partnership.png?resize=45%2C28&amp;ssl=1 45w\" data-sizes=\"auto, (min-width: 960px) 75vw, 100vw\" data-width=\"960\" data-height=\"600\" data-src=\"https:\/\/filemydoc.com\/blog\/wp-content\/uploads\/2022\/03\/private-limited-company-vs-limited-liability-partnership.png\" style=\"height: 0; width: 960px; padding-bottom: 62.50%;\"><span class=\"svq-img-loader\"><\/span><\/span><noscript><img loading=\"lazy\" decoding=\"async\" width=\"960\" height=\"600\" src=\"https:\/\/i0.wp.com\/filemydoc.com\/blog\/wp-content\/uploads\/2022\/03\/private-limited-company-vs-limited-liability-partnership.png?resize=960%2C600&#038;ssl=1\" alt=\"Private Limited VS Limited Liability Company\" class=\"wp-image-183\" srcset=\"https:\/\/i0.wp.com\/filemydoc.com\/blog\/wp-content\/uploads\/2022\/03\/private-limited-company-vs-limited-liability-partnership.png?w=960&amp;ssl=1 960w, https:\/\/i0.wp.com\/filemydoc.com\/blog\/wp-content\/uploads\/2022\/03\/private-limited-company-vs-limited-liability-partnership.png?resize=300%2C188&amp;ssl=1 300w, https:\/\/i0.wp.com\/filemydoc.com\/blog\/wp-content\/uploads\/2022\/03\/private-limited-company-vs-limited-liability-partnership.png?resize=768%2C480&amp;ssl=1 768w, https:\/\/i0.wp.com\/filemydoc.com\/blog\/wp-content\/uploads\/2022\/03\/private-limited-company-vs-limited-liability-partnership.png?resize=45%2C28&amp;ssl=1 45w\" sizes=\"auto, (min-width: 960px) 75vw, 100vw\" data-recalc-dims=\"1\" \/><\/noscript><\/figure>\n\n\n<p><strong>Difference Between Private Limited Company VS LLP<\/strong>: Generally there is a confusion among the startups in India about the nature of the entity to start their business with. In order to solve their confusion, they do lots of research online to select the best suitable nature of entity for their type of business and scale of business. Generally due to lack of knowledge, they opt for a less suitable type of entity and later it creates more problems for them.<\/p>\n<h2><span id=\"Basics\"><strong>Basics<\/strong><\/span><\/h2>\n<p>In a nut shell, if you are into a small or mid-size business and you don\u2019t seek any funding, you should preferably opt for an LLP.<\/p>\n<p>Both LLPs and Private limited companies are to be registered with the ministry of corporate affairs. And both has almost similar process for registration.<\/p>\n<h2><span id=\"Difference_Between_Private_Limited_Company_VS_LLP\"><strong>Difference Between Private Limited Company VS LLP<\/strong><\/span><\/h2>\n<p>\u00a0<\/p>\n<table class=\"has-background\" style=\"height: 1501px;\" width=\"773\">\n<tbody>\n<tr>\n<td><strong>Basis<\/strong><\/td>\n<td><strong>Private Limited Company<\/strong><\/td>\n<td><strong>Limited Liability Partnership<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Number of Members<\/td>\n<td>Min \u2013 2, Max \u2013 200<\/td>\n<td>Min \u2013 2, Max \u2013 No Cap<\/td>\n<\/tr>\n<tr>\n<td>Taxes<\/td>\n<td>\n<ul>\n<li>a. Income tax @ 30 %<\/li>\n<li>b. MAT @ 18.5 %<\/li>\n<li>c. Dividend distribution tax @ 20.4746%<\/li>\n<\/ul>\n<\/td>\n<td>\n<ul>\n<li>a. Income tax @ 30%<\/li>\n<li>b. MAT@18.5%<\/li>\n<li>c. No requirement for Dividend distribution tax<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td>Capital Contribution<\/td>\n<td>Can be started with any paid-up capital<\/td>\n<td>Not specified<\/td>\n<\/tr>\n<tr>\n<td>Personal Liability<\/td>\n<td>Limited to the extent of the unpaid capital<\/td>\n<td>Limited to the extent of the contribution to the LLP<\/td>\n<\/tr>\n<tr>\n<td>Foreign Nationals as shareholder \/ Partner<\/td>\n<td>A foreign national can be a shareholder<\/td>\n<td>A foreign national can be a partner<\/td>\n<\/tr>\n<tr>\n<td>Meetings<\/td>\n<td>4 Board of directors meetings a year and an annual general meeting is compulsory<\/td>\n<td>No such requirement<\/td>\n<\/tr>\n<tr>\n<td>Annual Returns<\/td>\n<td>Annual Accounts and Annual Return to be filed with ROC.<\/td>\n<td>Annual statement of accounts and solvency &amp; Annual Return has to be filed with ROC.<\/td>\n<\/tr>\n<tr>\n<td>Audit<\/td>\n<td>Compulsory<\/td>\n<td>Required only in case contribution is above 25L or if annual turnover is above 40L<\/td>\n<\/tr>\n<tr>\n<td>Dissolution<\/td>\n<td>Less procedural<\/td>\n<td>Very procedural<\/td>\n<\/tr>\n<tr>\n<td>Venture capitalists preference<\/td>\n<td>High<\/td>\n<td>Low<\/td>\n<\/tr>\n<tr>\n<td>Credibility<\/td>\n<td>High due to strict compliance<\/td>\n<td>Low<\/td>\n<\/tr>\n<tr>\n<td>Conversion<\/td>\n<td>Can be converted to an LLP<\/td>\n<td>Cannot be converted to a private limited company<\/td>\n<\/tr>\n<tr>\n<td>Cost of registration<\/td>\n<td>High<\/td>\n<td>Low<\/td>\n<\/tr>\n<tr>\n<td>Annual ROC cost<\/td>\n<td>High<\/td>\n<td>Low<\/td>\n<\/tr>\n<tr>\n<td>ESOP (Employee Stock Ownership Plan)<\/td>\n<td>Possible<\/td>\n<td>Not possible<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span id=\"Conclusion\"><strong>Conclusion<\/strong><\/span><\/h2>\n<p>Private limited companies are well established in India, and has a wide spread recognition, whereas LLP being a relatively new concept in India, Investors prefer investing in Companies rather than LLPs.<\/p>\n<p>Now in case you are looking to raise fund or offer ESOPs to your employees, private limited company is the way to go. In case you don\u2019t have any such requirement you should probably go for an LLP. However, do take some time to think over it, as if you get an LLP registered you need to get all other registrations done on its name. And in future you think to switch from an LLP to a Company, considerable efforts would be required.<\/p>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Many Entrepreneurs starting a new business are curious and confused about thedifference between a Private Limited Company (Pvt Ltd) vs Limited Liability Partnership (LLP). Both entities offer many similar features required to run a small to large sized business, while they also differ in certain aspects. In this article, We will compare Private Limited Company [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"stax_show_title_section":"","stax_single_post_media_panel_height":"","stax_single_post_media_panel_text":"","stax_single_post_cateory_breadcrumb":"","stax_single_post_title_position":"","stax_single_post_title_align":"","stax_single_post_title_extra_align":"","stax_single_post_title_size":"","stax_single_post_image_width":"","stax_single_post_image_format":"","stax_single_post_audio_panel":"","stax_single_post_video_panel":"","stax_single_post_video_width":"","stax_single_post_gallery_panel":"","stax_single_post_gallery_width":"","stax_single_post_gallery_slides":"","stax_single_post_meta_author_avatar":"","stax_single_post_meta_author_name":"","stax_single_post_meta_post_date":"","stax_single_post_meta_reading_time":"","stax_single_post_shapes":"","footnotes":""},"categories":[1,4,13],"tags":[],"class_list":["post-182","post","type-post","status-publish","format-standard","hentry","category-featured","category-incorporation","category-startup"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v18.6 (Yoast SEO v20.7) - 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This business structure is quite popular in India due to the unique blend of flexibility and\u2026","rel":"","context":"In &quot;Featured&quot;","img":{"alt_text":"Limited Liability Partnerships","src":"https:\/\/i0.wp.com\/filemydoc.com\/blog\/wp-content\/uploads\/2024\/09\/The-Basics-of-Limited-Liability-Partnerships.png?fit=1200%2C620&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":431,"url":"https:\/\/filemydoc.com\/blog\/startup\/limited-liability-partnership-llp-registration-in-india\/","url_meta":{"origin":182,"position":1},"title":"Limited Liability Partnership (LLP) Registration in India","date":"February 2, 2023","format":false,"excerpt":"Limited Liability Partnership (LLP) registration in India is a process of registering a new LLP with the Registrar of Companies (ROC) under the Ministry of Corporate Affairs (MCA). The following steps outline the process for LLP registration in India: Choose a unique name for the LLP and check its availability\u2026","rel":"","context":"In &quot;Startup&quot;","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/filemydoc.com\/blog\/wp-content\/uploads\/2023\/02\/Documents-Required-for-LLP-Registration-in-2.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":1457,"url":"https:\/\/filemydoc.com\/blog\/featured\/limited-liability-partnership-for-your-business\/","url_meta":{"origin":182,"position":2},"title":"Limited Liability Partnership for Your Business","date":"September 14, 2024","format":false,"excerpt":"Advantages of Choosing a Limited Liability Partnership for Your Business Introduction When starting a new business, one of the most crucial decisions you'll make is choosing the right structure. Among the various options available, a Limited Liability Partnership (LLP) stands out for its unique blend of flexibility and protection. 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Ltd. company is not as stringent as LLP or sole proprietorship business model wherein business assets are at risk in case of a fiscal\u2026","rel":"","context":"In &quot;Featured&quot;","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/filemydoc.com\/blog\/wp-content\/uploads\/2022\/03\/5-reason-for-private-limited-company.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":1461,"url":"https:\/\/filemydoc.com\/blog\/featured\/private-limited-company-structure-on-business-growth\/","url_meta":{"origin":182,"position":4},"title":"Private Limited Company Structure on Business Growth","date":"September 16, 2024","format":false,"excerpt":"The Impact of a Private Limited Company Structure on Business Growth in India Introduction Starting or growing a business in India requires more than just a great idea\u2014you also need to choose the right legal structure. 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