Limited Liability Partnership (LLP) Registration

Limited Liability Partnership (LLP) Registration

NGN40,000.00

Register Your Limited Liability Partnership (LLP) in Nigeria with SplashDict

By registering your Limited Partnership with CAC, you secure legal recognition, enhance your business’s credibility, and gain access to essential resources like a business bank account.

  • Limited Liability Partnership (LLP) Registration with CAC.
  • CAC Filing Fees included.
  • Tax Identification Number (TIN) included.
  • Receive Certificate of LP Registration.
  • Receive CAC Status Report.
  • Receive approved Partnership Deed. 
  • Processing Time: 3 to 7 business days turnaround.

 

Key Features of Limited Liability Partnership (LLP)

  • Legal Recognition: Registration with the Corporate Affairs Commission (CAC) formalizes the partnership, providing a legal framework for operations and contracts.

  • Separate Legal Entity: An LLP is distinct from its partners, meaning the business can own assets, enter contracts, and sue or be sued in its name.

  • Limited Liability Protection: All partners enjoy protection from personal liability. They are not personally responsible for business debts or legal obligations beyond their agreed contributions.

  • Hybrid Form of Organization: An LLP combines features of both partnership firms and companies, offering flexibility and limited liability to partners.

  • Professional Suitability: LLPs are particularly well-suited for professional services firms (e.g., law firms, accounting firms) where limited liability is desirable, and professional autonomy is maintained.

  • Designated Partners: LLPs must have at least two designated partners, at least one of whom must be a resident of Nigeria.

    There is no upper limit to the number of partners an LLP can have, unlike general partnerships or companies limited by shares.

  • Annual Compliance Requirement: Limited Liability Partnerships must maintain annual returns and adhere to regulations stipulated by the CAC to retain their legal status.

  • Taxation: Taxes for LLPs are based on personal income rather than being treated as separate corporate taxes.

Requirements for Limited Liability Partnership (LLP) Registration

  • Proposed Business Names: At least two (2) options (1st choice and alternative).

  • Partners and Designated Partners: An LLP must have at least two partners, and at least two designated partners, of which one must be a resident in Nigeria. Designated partners are responsible for ensuring compliance with the LLP Act.

  • Capital Contributions: The amount each partner will contribute to the partnership.

  • Business Objectives: Description of the nature and objectives of the business.

  • Partners' Details: Provide full names, addresses, occupations, and means of identification for all partners.

  • Business Address: Proposed business address (can be a home address or a separate business location).

  • Partnership Agreement: A draft agreement outlining the partners' rights, duties, and responsibilities. 

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Benefits of LLP Registration

  • Legal Recognition: Registering your LLP with the CAC gives your business formal recognition, enabling it to operate legally and enter contracts.

  • Exclusive Rights to the Name: Registration ensures that your chosen business name is uniquely yours, preventing others from using it for their operations.

  • Reduced Personal Risk: Partners are shielded from personal liability for the LLP’s debts, safeguarding personal assets from business liabilities.

  • Credibility and Trust: Registration with the CAC provides legal recognition, enhancing the business’s reputation and fostering trust with clients, suppliers, and financial institutions.

  • Access to Certain Services: Some services may require a registered business certificate and TIN, such as opening a business bank account or obtaining certain licenses.

  • Attraction for Investors: The LLP structure offers a risk-reduced option for investors who want involvement without exposure to unlimited liability.

  • Perpetual Succession: The LLP continues to exist irrespective of changes in partnership, ensuring business continuity in case of a partner’s exit or death.

  • Attraction for Investors: The LLP structure offers a risk-reduced option for investors who want involvement without exposure to unlimited liability.

  • No Cap on Partners: Unlike some business structures, LLPs have no maximum limit on the number of partners, enabling scalability and diverse participation.

  • Professional Collaboration: LLPs are ideal for professionals (e.g., lawyers, accountants, architects) who want to collaborate while maintaining liability protection.

Partnership Registration Service

Register your Limited Liability Partnership (LLP) Business in Nigeria

Here's how SplashDict's team of CAC-accredited consultants can help:

  • LLP Registration: Nigerian Limited Liability Partnership (LLP) Registration with the CAC.

  • Documentation: We handle all required registration documents.

  • Transparent Pricing: CAC registration and Filing fees are included with no hidden charges.

  • Tax Identification Number (TIN): Issued upon incorporation.

  • Quick Turnaround: Receive Certificate of Registration, Partnership Deed, and Status Report within 3-7 business days.

  • Continuous Support: We assist with future compliance and statutory needs.

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