Quick answer
A limited liability partnership (LLP) is registered with SECP under the Limited Liability Partnership Act, 2017. You need at least two partners, at least one designated partner who is an individual resident in Pakistan, and a notarised LLP agreement filed with LLP-Form-III. SECP's LLP Regulations, 2018 list Rs 100 for online name reservation and Rs 1,000 for online registration.
Who can form an LLP?
Section 9 of the Limited Liability Partnership Act, 2017 says every LLP must have at least two partners. Section 10 requires at least one designated partner who is an individual and resident in Pakistan, meaning someone who stayed in Pakistan for at least six months in the preceding year. Where partners are bodies corporate, at least two individuals must act as designated partners.
Designated partners carry the compliance load. Section 10(9) makes them responsible for filing the documents, returns and statements the Act requires. Section 6 also requires the name to end with the acronym "LLP".
What documents does SECP ask for?
Regulation 8 of SECP's Limited Liability Partnership Regulations, 2018 says the application is made on LLP-Form-III, online or on paper, with:
- copies of the CNICs of the partners and designated partners, or a passport copy for a foreign partner
- an attested copy of the LLP agreement, executed by the partners, witnessed and notarised
- the consent of each designated partner
Section 5 of the Act adds two points. The LLP must have a registered office where notices can be served, and the filing must include a statement from an advocate, or a member of ICAP or ICMAP, who was engaged in its formation.
How much does registration cost?
The fee schedule in the LLP Regulations, 2018 lists:
- name reservation: Rs 100 online, Rs 200 on paper
- registration of an LLP: Rs 1,000 online, Rs 2,000 on paper
- conversion of a firm or a private limited company to an LLP: Rs 500 online, Rs 1,000 on paper
These are SECP's charges only. Notarisation and professional fees are separate, and SECP can amend its schedule, so check the generated challan before you pay.
Is an LLP or a private limited company better for you?
An LLP suits partners who want limited liability with the flexibility of an agreement between them, such as consultancies and professional practices. A private limited company issues shares, which matters if you plan to bring in investors. Under the Companies Act, 2017, one person can form a single member company, while an LLP always needs two partners.
Ongoing duties differ too. Section 20 of the LLP Act requires proper double-entry books and a statement of accounts within four months of each financial year end, signed by the designated partners. If you change the registered office, section 5 requires notice to the registrar within 15 days.
Where to work once you are registered
Partners still need somewhere to meet clients. At TheWing.pk in DHA Phase 2, a dedicated desk is PKR 36,400 a month and includes a complimentary 30-minute tax consultation, and team pods start at PKR 81,600 a month for three people. Book a free tour and see the space first.
Frequently asked questions
How many partners does an LLP need in Pakistan?
At least two. Section 9 of the Limited Liability Partnership Act, 2017 sets that minimum.
Can a foreign national be a partner in a Pakistani LLP?
Yes. Regulation 8 accepts a passport copy for a foreign partner, but at least one designated partner must be an individual resident in Pakistan.
What is SECP's fee to register an LLP online?
The LLP Regulations, 2018 list Rs 1,000 for online registration and Rs 100 for online name reservation. Check the challan before paying.
Does the LLP agreement need to be notarised?
Yes. Regulation 8 asks for an attested copy of the LLP agreement, executed by the partners, witnessed and notarised.
Can a private limited company convert into an LLP?
Yes. The Regulations provide for conversion on LLP-Form-VI, with an online fee of Rs 500.
