Women Entrepreneurship Platform (WEP)

May 12, 2024
Private Limited Company vs. Limited Liability Partnerships

The Women Entrepreneurship Platform (WEP) is a NITI Aayog initiative that seeks to bring together women from various parts of the country through a unified access portal to help them realize their entrepreneurial aspirations.

Description Who is it for? Benefits
To promote women entrepreneurship in the country by empowering them through financial aid and mentoring For Women Entrepreneurs Apart from providing incubation & acceleration, this scheme offers mentorship and financial and marketing assistance.

It is built on three foundation pillars: Iccha Shakti, Karma Shakti, and Gyaan Shakti.

Table of Contents

Iccha Shakti

Encourages aspiring entrepreneurs to kickstart their business ventures.

Gyaan Shakti

Offers knowledge and ecosystem support to women entrepreneurs, nurturing entrepreneurship.

Karma Shakti

Provides practical assistance to entrepreneurs in establishing and expanding their businesses.

Women Entrepreneurship Platform (WEP)

It specifically provides access to programs for

  • Incubation and acceleration
  • Entrepreneurship skilling and mentorship
  • Marketing assistance
  • Funding and financial assistance
  • Compliance and tax assistance
  • Community and networking

Eligibility

Any woman entrepreneur with an established or new startup or just a business idea can benefit from this scheme.

Application procedure for Startups

  • Visit https://wep.gov.in/.
  • Click on the “Register” button on the homepage. Following this, a registration form will appear on the screen.
  • Fill in all the details and click on the “Register” button at the bottom of the page.
  • After completing registration, a page will appear asking for “Areas of Interest” and relevant fields.
  • Fill in all the Personal Information, Business Information, and Educational information. Keep in mind that the fields might vary depending on the area of interest you are choosing.
  • Successful submission of details leads you to become a member of the WEP and grants you access to several benefits.
Women Entrepreneurship Platform (WEP)

Benefits of the WEP

WEP actively hosts a wide range of events as a platform, providing resources and promoting entrepreneurial communities.

  • It provides monetary assistance, including seed capital, growth capital, line of credit( LOC), and non-credit support.
  • Promotion of offline initiatives and outreach programs by partnering with other organizations.
  • Incubation and acceleration support to startups founded or co-founded by women entrepreneurs registered with the program.
  • Identification of skill gaps and providing online/offline training on these aspects.
  • Marketing and networking support to early-stage or established entities
  • Compliance services to registered users, which provides them with the essential tools to adhere to legal compliances, perform registrations, furnish accounts, make loan applications, provide license counseling, and so on.
  • A like-minded community to understand the true spirit of entrepreneurship and the way forward.

To provide better support, WEP has tied up with some Fortune companies like CRISIL, Facebook, SIDBI, NASSCOM, DICE, FICCI, Mann Foundations, Shopclues, CII, and many others. The fortunes will play a key role in developing different skill sets important for a robust entrepreneurial ecosystem.

Frequently Asked Questions

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Register your Business starting at just 1,499 + Govt. Fee

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Register your Limited Liability Partnership in just 1,499 + Govt. Fee

Register your business

Private Limited Company
(Pvt. Ltd.)

1,499 + Govt. Fee
BEST SUITED FOR
  • Service-based businesses
  • Businesses looking to issue shares
  • Businesses seeking investment through equity-based funding


Limited Liability Partnership
(LLP)

1,499 + Govt. Fee
BEST SUITED FOR
  • Professional services 
  • Firms seeking any capital contribution from Partners
  • Firms sharing resources with limited liability 

One Person Company
(OPC)

1,499 + Govt. Fee
BEST SUITED FOR
  • Freelancers, Small-scale businesses
  • Businesses looking for minimal compliance
  • Businesses looking for single-ownership

Private Limited Company
(Pvt. Ltd.)

1,499 + Govt. Fee
BEST SUITED FOR
  • Service-based businesses
  • Businesses looking to issue shares
  • Businesses seeking investment through equity-based funding


One Person Company
(OPC)

1,499 + Govt. Fee
BEST SUITED FOR
  • Freelancers, Small-scale businesses
  • Businesses looking for minimal compliance
  • Businesses looking for single-ownership

Private Limited Company
(Pvt. Ltd.)

1,499 + Govt. Fee
BEST SUITED FOR
  • Service-based businesses
  • Businesses looking to issue shares
  • Businesses seeking investment through equity-based funding


Limited Liability Partnership
(LLP)

1,499 + Govt. Fee
BEST SUITED FOR
  • Professional services 
  • Firms seeking any capital contribution from Partners
  • Firms sharing resources with limited liability 

Frequently Asked Questions

What are the objectives of the Women Entrepreneurship Platform?

The primary objectives of the Women Entrepreneurship Platform include empowering women entrepreneurs, facilitating networking and collaboration, providing access to resources and support, and promoting innovation and sustainability in women-led businesses.

Is there any cost associated with joining the WEP?

No, there is typically no cost associated with joining the WEP. It is a free initiative aimed at supporting and promoting women entrepreneurship in India.

Are there any sector limits on the WEP?

No, the WEP is open to women entrepreneurs from all industries and sectors, including technology, manufacturing, agriculture, healthcare, retail, and services.

Related Posts

LLP Form 3: A Complete Guide

LLP Form 3: A Complete Guide

One of the most important compliance steps when forming a Limited Liability Partnership (LLP) in India is filing LLP Form 3. This form is required to officially document the LLP agreement, which governs the internal operations of the partnership, the roles and responsibilities of partners, profit-sharing ratios, and more. Filing LLP Form 3 with the Ministry of Corporate Affairs (MCA) holds legal significance and must be submitted within a strict timeline of 30 days from the date of incorporation.

In this guide, we’ll walk you through everything you need to know about LLP Form 3, from its purpose and components to filing steps, fees, penalties, and new updates under the LLP Amendment Rules 2023.

Table of Contents

What is LLP Form 3?

LLP Form 3 is a mandatory form that captures the LLP agreement, the foundation document that outlines the operational framework of a Limited Liability Partnership. This agreement defines the relationship among partners, including their roles, decision-making powers, profit and loss sharing arrangements, and more.

It serves as a legal document that governs how the LLP will be run and must be submitted to the MCA to make the LLP agreement officially valid.

Purpose of Filing LLP Form 3

Filing LLP Form 3 is essential because it:

  • Legally documents the LLP agreement with the government
    Defines the rights, duties, and responsibilities of all partners
  • Establishes clarity on how the LLP will operate
  • Ensures regulatory compliance with the MCA
    Helps prevent internal disputes by clearly stating each partner’s role and profit-sharing ratio

Without a properly filed LLP Form 3, the LLP risks facing legal and operational complications.

When to File LLP Form 3?

LLP Form 3 must be filed within 30 days from the date of incorporation of the LLP.

In addition to the initial filing, any changes or amendments made to the LLP agreement, such as changes mentioned below, must also be reported by filing a fresh Form 3 within 30 days of the amendment date.

  • Partner details
  • Capital contribution
  • Profit-sharing ratio
  • Management structure

Key Components of LLP Form 3

LLP Form 3 is designed to capture critical aspects of the LLP agreement, including:

  • Capital contributions of each partner
  • Profit-sharing ratios
  • Roles and responsibilities of partners
  • Management structure and authority levels
  • Decision-making processes
  • Dispute resolution clauses
  • Procedures for adding or removing partners
  • Meeting protocols and voting rights

These elements ensure the LLP operates smoothly and fairly for all stakeholders.

Steps to File LLP Form 3

Here’s a step-by-step guide to filing LLP Form 3 online:

  1. Log in to the MCA portal.
  2. Download the latest version of LLP Form 3 under the “MCA Services > LLP E-Forms” section.
  3. Fill in the required details of the LLP agreement:
    • LLP name and LLPIN
    • Date of agreement
    • Partner details and their contributions
      Rights, responsibilities, and governance structure
  4. Attach the signed LLP agreement as a PDF
  5. Upload any other mandatory documents (as specified)
  6. Validate and pre-scrutinise the form using the MCA tool
  7. Sign digitally (DSC) by a designated partner
  8. Submit the form and make the payment online

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Filing LLP Form 3 for LLP Incorporation and Changes in LLP Agreement

LLP Form 3 is divided into two key sections:

1. Initial Filing of LLP Agreement (Section 1):

Used at the time of incorporation, this section requires details like:

  • Nature of business
  • Partner contributions
  • Profit-sharing ratios
  • Decision-making and meeting procedures

2. Filing Amendments to LLP Agreement (Section 2):

Used when there’s a change in:

  • Capital contribution
  • Partners or their roles
  • Profit-sharing arrangements

You must provide:

  • Amendment date
  • Number of changes
  • SRN (Service Request Number) of related forms previously filed

Before proceeding to either section, you must enter basic details like LLPIN, registered address, and jurisdiction.

Additional Disclosure Requirements – Revised Form No. 3 (LLP Rules 2023)

The LLP (Amendment) Rules, 2023 introduced stricter disclosure norms in Form No. 3 to enhance transparency, especially when a corporate body is a partner.

New requirements include filling Table 19(a) with:

  • Body Corporate Partner (Yes/No) – Indicates if the partner is a corporate entity.
  • Partner/Nominee ID – DPIN, PAN, or Passport number of the individual or nominee.
  • Additional ID Details – Supporting information related to the identification number.
  • Corporate Type – Type of body corporate (e.g., company, LLP).
  • Corporate ID – CIN, LLPIN, FCRN, FLLPIN, or other ID numbers.
  • Additional Corporate Details – Extra info related to the above IDs.
  • Corporate Name – Legal name of the body corporate partner.
  • Designation – Whether the person is a Partner or Designated Partner.
  • Contribution Form – Mode of contribution (Cash/Non-cash/Conversion).
  • Contribution Value – Monetary value of the contribution.
  • Profit Share % – Profit sharing ratio assigned to the partner.
  • Type of Change – Whether the entry reflects an addition, deletion, change, or no change.

These disclosures ensure better governance and accountability within LLPs.

Fees for Filing LLP Form 3

The fee for LLP Form 3 varies based on the contribution amount:

Contribution Amount Government fee
Up to ₹1 lakh ₹50
₹1 lakh–₹5 lakh ₹100
₹5 lakh–₹10 lakh ₹150
₹10 lakh–₹25 lakh ₹200
₹25 lakh–₹1 crore ₹400
Above ₹1 crore ₹600

Note: Additional charges apply for late filing, which can accrue up to ₹100 per day of delay without any cap.

Penalty for Non-Filing Form 3 LLP

Failing to file the LLP Form 3 on time results in:

  • Late filing fees of ₹100 per day
  • Potential rejection of other compliance forms
  • Inability to legally enforce the LLP agreement
  • Legal complications and MCA notices
  • Difficulty in onboarding new partners or raising capital

Common Mistakes to Avoid

Avoid these common errors when filing LLP Form 3:

  • Entering incorrect partner details
  • Uploading unsigned or outdated LLP agreements
  • Missing the 30-day deadline
  • Not updating the form after changes in the LLP agreement
  • Skipping mandatory fields in Table 19(a) (as per 2023 rules)

Pro Tip: Always validate and preview the form before submission, and keep a copy of the SRN for future reference.

Conclusion

LLP Form 3 is an important compliance document that legally records your LLP agreement with the Ministry of Corporate Affairs. It captures critical aspects like partner roles, profit-sharing arrangements, and decision-making protocols that define how your LLP functions.

If you’re forming an LLP or planning amendments to your existing agreement, don’t overlook LLP Form 3. Stay compliant to not only avoid hefty penalties but also build a solid foundation for the growth and scalability of your LLP.

Frequently Asked Questions

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Register your Private Limited Company in just 1,499 + Govt. Fee

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Register your One Person Company in just 1,499 + Govt. Fee

Register your business
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Register your Business starting at just 1,499 + Govt. Fee

Register your business
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Register your Limited Liability Partnership in just 1,499 + Govt. Fee

Register your business

Private Limited Company
(Pvt. Ltd.)

1,499 + Govt. Fee
BEST SUITED FOR
  • Service-based businesses
  • Businesses looking to issue shares
  • Businesses seeking investment through equity-based funding


Limited Liability Partnership
(LLP)

1,499 + Govt. Fee
BEST SUITED FOR
  • Professional services 
  • Firms seeking any capital contribution from Partners
  • Firms sharing resources with limited liability 

One Person Company
(OPC)

1,499 + Govt. Fee
BEST SUITED FOR
  • Freelancers, Small-scale businesses
  • Businesses looking for minimal compliance
  • Businesses looking for single-ownership

Private Limited Company
(Pvt. Ltd.)

1,499 + Govt. Fee
BEST SUITED FOR
  • Service-based businesses
  • Businesses looking to issue shares
  • Businesses seeking investment through equity-based funding


One Person Company
(OPC)

1,499 + Govt. Fee
BEST SUITED FOR
  • Freelancers, Small-scale businesses
  • Businesses looking for minimal compliance
  • Businesses looking for single-ownership

Private Limited Company
(Pvt. Ltd.)

1,499 + Govt. Fee
BEST SUITED FOR
  • Service-based businesses
  • Businesses looking to issue shares
  • Businesses seeking investment through equity-based funding


Limited Liability Partnership
(LLP)

1,499 + Govt. Fee
BEST SUITED FOR
  • Professional services 
  • Firms seeking any capital contribution from Partners
  • Firms sharing resources with limited liability 

Frequently Asked Questions

What are the LLP Form 3 and Form 4?

  • LLP Form 3 is used to file the LLP Agreement and any changes made to it. It defines the structure, roles, responsibilities, and terms between the partners.
  • LLP Form 4 is used to inform the Ministry of Corporate Affairs (MCA) about appointments, changes, or resignations of designated partners or partners in an LLP.

Is Filing Form 3 necessary for the Limited Liability Partnership?

Yes, filing Form 3 is mandatory. The LLP Agreement must be legally submitted to the MCA within 30 days of incorporation. Failure to do so may result in penalties and legal non-compliance.

What are the LLP Form 3 non-filing fees?

If LLP Form 3 is not filed on time, the late filing fee is ₹100 per day until the default continues. There is no maximum cap, which means the penalty can accumulate significantly if delayed.

What is Form 3 used for?

Form 3 is used to:

  • File the initial LLP Agreement with the MCA.
  • Report any changes to the existing LLP Agreement (e.g., change in capital, profit-sharing ratio, or partner roles).

What is the due date for filing Form 3 for LLP?

The due date is within 30 days from:

  • The date of LLP incorporation (for the initial agreement) or
  • The date of any modification made to the LLP Agreement.

What is the penalty for Form 3 LLP?

The penalty for not filing Form 3 within the prescribed time is:

  • ₹100 per day of delay, with no upper limit, as per MCA rules.
  • This can lead to substantial fines and can delay other compliance activities or changes to the LLP structure.

Nipun Jain

Nipun Jain is a seasoned startup leader with 13+ years of experience across zero-to-one journeys, leading enterprise sales, partnerships, and strategy at high-growth startups. He currently heads Razorpay Rize, where he's building India's most loved startup enablement program and launched Rize Incorporation to simplify company registration for founders.

Previously, he founded Natty Niños and scaled it before exiting in 2021, then led enterprise growth at Pickrr Technologies, contributing to its $200M acquisition by Shiprocket. A builder at heart, Nipun loves numbers, stories and simplifying complex processes.

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What Is an LLP (Limited Liability Partnership) and How Does It Work?

What Is an LLP (Limited Liability Partnership) and How Does It Work?

In today’s dynamic business landscape, the Limited Liability Partnership (LLP) has emerged as a compelling choice for entrepreneurs, startups, and professional service providers. Offering the legal strengths of a company alongside the flexible governance of a partnership, LLPs are gaining remarkable popularity across India.

  • In the financial year 2023-24 alone, the number of LLP registrations soared by a striking 39%, reaching 58,990—a clear reflection of growing confidence in this structure.
  • The upward momentum continued into 2025, with May witnessing a 37% year-on-year jump in new LLP incorporations—outpacing the 29% growth seen in company registrations

These figures underscore a powerful trend: LLPs are fast becoming the go-to vehicle for professionals and small businesses seeking liability protection, compliance ease, and operational flexibility.

Table of Contents

What is LLP?

An LLP or Limited Liability Partnership is a business structure where business partners share limited liability, meaning their personal assets are protected in case the business incurs debts or liabilities.

LLPs are commonly used by professionals like lawyers, accountants, and consultants but are increasingly popular among small and medium-sized enterprises (SMEs).

An LLP is an ideal structure for businesses seeking operational flexibility, protection for partners' personal assets, and minimal compliance requirements. It is particularly attractive for professionals and small enterprises looking for a formal and efficient business framework.

This business structure also allows businesses to make use of the benefits of economies of scale, since LLPs can pool resources, expertise, and capital from multiple partners. By sharing operational responsibilities and costs, LLPs can reduce per-unit expenses, streamline processes, and negotiate better terms with suppliers.

This collaborative approach enables businesses to grow efficiently, expand their market presence, and achieve cost advantages typically associated with larger organizations.

How an LLP (Limited Liability Partnership) Works?

1. Hybrid Business Structure

A Limited Liability Partnership (LLP) is a flexible business structure that operates with a mix of partnership and corporate elements.

2. Limited Liability Advantage

The main advantage of an LLP is that it provides limited liability to its partners. This means that, unlike a general partnership, your personal assets (such as your home or car) are typically protected in case of legal action.

3. Lawsuit and Liability Rules

In an LLP, if the business faces a lawsuit, the partnership itself becomes the primary target, not the personal property of the individual partners. However, if a partner personally engages in wrongdoing (e.g., fraud), they could still be held liable for their actions.

4. Example: Meena and Shalini’s Case

  • Starting Out: Consider a scenario where two professionals, Meena and Shalini, decide to start a business offering consulting services in India. They have a shared interest in providing management consulting to small and medium enterprises (SMEs). Initially, they start with a mutual agreement and an informal arrangement.
  • Formalizing the Structure: However, as the business grows, they realize the need to formalize the structure to protect themselves from legal and financial risks. Meena and Shalini choose to form an LLP (Limited Liability Partnership) to safeguard their personal assets from any potential legal liabilities that may arise in the course of business. They register the LLP with the Ministry of Corporate Affairs (MCA) in India, creating an LLP agreement that outlines their responsibilities, profit-sharing ratios, and other operational details.
  • Facing a Legal Dispute: A few months later, the consulting firm faces a legal dispute due to an issue with one of their clients. The client sues the LLP for professional negligence, claiming that the advice given led to a loss in business.
  • Outcome of the Lawsuit: Since Meena and Shalini have formed an LLP, their personal assets—such as their homes, personal savings, or vehicles—are protected. The lawsuit can only target the assets of the LLP itself, not their personal belongings. However, if it is proven that either Meena or Shalini acted negligently or fraudulently in a personal capacity, that partner could still be held accountable for their individual actions.

LP (Limited Partnership) vs General Partnership

An LP (Limited Partnership) and a General Partnership are both business structures involving two or more partners, but they differ in terms of liability and management roles.

Limited Partnership (LP)

  • In an LP, there are two types of partners: general partners and limited partners.
  • General partners have full control over the management of the business and bear unlimited liability, meaning they are personally responsible for the business's debts and obligations.
  • Limited partners, on the other hand, contribute capital but do not participate in day-to-day management. Their liability is limited to the amount they invest in the business, protecting their personal assets beyond that contribution.

General Partnership

  • In a General Partnership, all partners share equal responsibility for managing the business and have unlimited liability.
  • This means they are personally liable for the debts and obligations of the business.
  • There is no distinction between the roles of partners—each partner participates in both the management and the liabilities of the business.

Key Difference

The key difference between the two is the level of liability protection and management involvement.

  • An LP offers limited liability to some partners (limited partners).
  • A General Partnership places full responsibility on all partners, making it a riskier option for individuals seeking protection from personal liability.

Related Read: What is the Difference Between LLP and Partnership?

LLP vs LLC

Ownership and structure

LLP refers to Limited Liability Partnership, where two or more partners collaborate to run the business. The partners can be individuals or corporate entities, and the number of partners can vary.

In an LLP, all partners share the management responsibilities and decision-making processes, unless the partnership agreement specifies otherwise. Partners have limited liability, meaning their personal assets are protected from business debts or legal claims.

LLC refers to a Limited Liability Company, which is a separate legal entity that can have one or more owners, known as members. The ownership can be divided among individual or corporate members, and the structure is more flexible than a corporation.

LLCs can be managed either by members (member-managed) or by designated managers (manager-managed). The members are not personally liable for the company’s debts or liabilities, providing them with protection similar to that of an LLP.

Liability protection

Partners in an LLP enjoy limited liability, meaning they are not personally liable for the debts or obligations of the business beyond their contribution to the partnership. However, if a partner engages in fraudulent or wrongful activities, they could still be personally liable for their actions.

LLC members also have limited liability, meaning they are generally not personally responsible for the company’s debts or liabilities. The LLC itself is a separate legal entity, so any financial obligations fall on the company, not the individual members. Similar to an LLP, members are protected unless they personally guarantee a debt or engage in illegal activities.

Decision making and management

In an LLP, all partners typically have a say in the management and operation of the business, unless otherwise specified in the LLP agreement. It is a more flexible structure in terms of decision-making since there is no requirement for a formal management team.

LLCs can be either member-managed or manager-managed. In a member-managed LLC, all members participate in managing the business, while in a manager-managed LLC, the members appoint managers to run the operations. This offers more structure compared to an LLP, especially for larger businesses.

Ownership transfer

Ownership in an LLP is typically not as easily transferable as in an LLC. Partners usually need to approve the admission of new partners or the transfer of ownership. This limits the liquidity and transferability of ownership interests.

Ownership in an LLC can be transferred more easily than in an LLP, depending on the terms of the operating agreement. LLCs can issue membership interests that can be bought or sold, making it easier to bring in new investors or transfer ownership.

LLP vs LP

An LP refers to a Limited Partnership, which is different from an LLP.

An LLP (Limited Liability Partnership) and an LP (Limited Partnership) are both business structures that involve multiple partners but differ in terms of liability and management.

In an LLP, all partners share equal responsibility for managing the business and enjoy limited liability, meaning their personal assets are protected from business debts. However, all partners are involved in decision-making unless specified otherwise in the agreement.

In contrast, an LPconsists of general partners and limited partners. General partners manage the business and have unlimited liability, while limited partners are only liable up to the amount of their investment and do not participate in the day-to-day operations.

The key difference lies in the roles and liabilities of the partners. In an LLP, all partners have equal liability protection and management control, whereas, in an LP, the general partners hold the management responsibility and are personally liable, while limited partners have liability protection but no management involvement.

The choice between the two structures depends on the desired level of involvement in business operations and the type of liability protection needed.

What are the advantages of LLP?

Wondering why you should choose LLP over other business registrations? Have a look:

  • Easy & quick to build: Building an LLP is a simple process. It does not have complicated steps and requirements and neither does it take months of waiting time. The minimum amount of fees for incorporating an LLP is INR 500 and the maximum that can be spent is INR 5,600
  • Continuity in succession: The life of the LLP is not affected by the death or retirement of any of the partners. If one of the partners withdraws because of any reasons, it does not mean that the LLP gets wound up. An LLP can only be shut down on the basis of the provisions of the Limited Liability Protection Act  of 2008
  • Limited liability: All the partners of the LLP have limited liability, which means that the partners are not liable to pay the debts of the company from their personal assets. No partner is responsible for any other partner’s misbehaviour or misconduct
  • Streamlines management: All the major decisions and management activities in an LLP are taken care of by the board of directors hence the shareholders receive very less power in making decisions
  • Hassle-free transfers: There are no restrictions on joining and leaving an LLP. One can easily admit as a partner and transfer the ownership to others
  • Taxation benefits: An LLP is exempt from various taxes such as dividend distribution tax and minimum alternative tax. Also, the rate of tax is less when compared to other business types
  • No compulsory audit requirements: There is no mandatory audit requirement for an LLP until the company exceeds the annual turnover of INR 40 lakhs

What are the disadvantages of LLP?

  • Not covered in all States: In India, there are certain variations in tax benefits from State to State. There are also cases when States restrict the formation of LLP. This is one of the major disadvantages of an LLP
  • Less credibility: An LLP has many benefits but the fact is that people do not consider LLPs to be a credible business. People still trust companies or partnerships over LLPs
  • Differences amongst partners: Since each partner is responsible for their own part, there are cases when partners do not consult each other before proceeding with a decision or agreement
  • Transfer of interest: Though interest and ownership can be transferred, it usually is a long procedure. Various formalities are required to comply with the provisions of the Limited Liability Partnership Act

Related Read: LLP Advantages and Disadvantages

Documentation requirements for registering an LLP (2025)

Before you start with the procedure of registering an LLP or make changes in an existing LLP, have a look at the list of documents you might need:

  • Form 7 is required to obtain a Designated Partner Identification Number (DIN) while registering your LLP. It may be sought from the MCA website. Along with the duly completed form, a registration fee of INR 100 must also be paid
  • Form 1/ RUN-LLP is required to register a name for the LLP and reserve it. It may be used to christen an LLP or to alter the present name. The fee for submitting this form is Rs 10,000
  • A request must also be filed by the partners for their DSC to be registered if it hasn’t already been done before
  • Form 2/FiLLiP is required for incorporating a registered LLP. This form must be sent to and acknowledged by the concerned State’s Registrar
  • An LLP agreement must be made, which outlines the duties of each partner involved. This requires the filling and submitting of Form 3
  • In the case of changing, altering, adding or removing partners, the partners must submit Form 4
  • Form 11 must be used to file the IT returns of the LLP
  • If the office address of the LLP is to be changed, then Form 15 must be filed

How to form a Limited Liability Proprietorship

As mentioned earlier, forming an LLP is easy and quick. Before you get started, obtain a DSC or Digital Signature Certificate as the following steps will require it. File for one if you don’t already have one. Further, here are the steps involved in forming an LLP. You can visit mca.gov.in and follow the steps listed below:

  1. Issue a Designated Partner Identification Number for yourself, which serves as an ID card
  2. File Form 7 and pay the required fees
  3. Register a name for your LLP using Form 1 and pay Rs 200
  4. Incorporate the LLP via Form 2. The LLP agreement must also be made at this stage
  5. File the LLP Agreement as per Section 2(o) of the LLP Act, 2008 using Form 3

With the above-mentioned steps, you are all set to start an LLP of your own.

Frequently Asked Questions

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Register your Business at just 1,499 + Govt. Fee

Register your business
rize image

Register your Private Limited Company in just 1,499 + Govt. Fee

Register your business
rize image

Register your One Person Company in just 1,499 + Govt. Fee

Register your business
rize image

Register your Business starting at just 1,499 + Govt. Fee

Register your business
rize image

Register your Limited Liability Partnership in just 1,499 + Govt. Fee

Register your business

Private Limited Company
(Pvt. Ltd.)

1,499 + Govt. Fee
BEST SUITED FOR
  • Service-based businesses
  • Businesses looking to issue shares
  • Businesses seeking investment through equity-based funding


Limited Liability Partnership
(LLP)

1,499 + Govt. Fee
BEST SUITED FOR
  • Professional services 
  • Firms seeking any capital contribution from Partners
  • Firms sharing resources with limited liability 

One Person Company
(OPC)

1,499 + Govt. Fee
BEST SUITED FOR
  • Freelancers, Small-scale businesses
  • Businesses looking for minimal compliance
  • Businesses looking for single-ownership

Private Limited Company
(Pvt. Ltd.)

1,499 + Govt. Fee
BEST SUITED FOR
  • Service-based businesses
  • Businesses looking to issue shares
  • Businesses seeking investment through equity-based funding


One Person Company
(OPC)

1,499 + Govt. Fee
BEST SUITED FOR
  • Freelancers, Small-scale businesses
  • Businesses looking for minimal compliance
  • Businesses looking for single-ownership

Private Limited Company
(Pvt. Ltd.)

1,499 + Govt. Fee
BEST SUITED FOR
  • Service-based businesses
  • Businesses looking to issue shares
  • Businesses seeking investment through equity-based funding


Limited Liability Partnership
(LLP)

1,499 + Govt. Fee
BEST SUITED FOR
  • Professional services 
  • Firms seeking any capital contribution from Partners
  • Firms sharing resources with limited liability 

Frequently Asked Questions

What should an LLP agreement include?

Typical clauses cover the registered office, business nature, rights and duties of partners, contributions and profit-sharing, voting rights, process for adding or removing partners, transfers, and dispute resolution mechanisms.

Who can become a partner, and what are the rules around it?

  • A minimum of two partners is required. If the number drops below two for over six months, the remaining partner can be held personally liable.
  • Partners can be individuals or corporations. Foreign partners must adhere to FDI norms and make contributions through approved banking channels at fair market value.
  • What are the compliance obligations for LLPs?

    Every LLP must file:

    • Form 8 (Statement of Account & Solvency), and
    • Form 11 (Annual Return)
      within 60 days from the end of the financial year (by May 30th for FY ending March 31).

    How is an LLP taxed?

    LLPs are taxed at a flat rate of 30% (plus surcharge and cess). They are exempt from dividend distribution tax, and partners are taxed individually when profits are distributed.

    Can existing businesses convert to an LLP?

    Yes, existing structures like private companies or partnership firms can convert to an LLP by following specific processes laid out in the LLP Act.

    Swagatika Mohapatra

    Swagatika Mohapatra is a storyteller & content strategist. She currently leads content and community at Razorpay Rize, a founder-first initiative that supports early-stage & growth-stage startups in India across tech, D2C, and global export categories.

    Over the last 4+ years, she’s built a stronghold in content strategy, UX writing, and startup storytelling. At Rize, she’s the mind behind everything from founder playbooks and company registration explainers to deep-dive blogs on brand-building, metrics, and product-market fit.

    Read more
    Digital Entrepreneur: Definition, Key Traits & How to Become One

    Digital Entrepreneur: Definition, Key Traits & How to Become One

    The rise of digital technology has completely changed how businesses are built. Today, anyone with an internet connection and a great idea can become an entrepreneur! Unlike traditional businesses that rely on physical stores or offices, digital entrepreneurs use online platforms, digital tools, and automation to create, market, and sell their products or services.

    This shift has made starting a business easier than ever—you can launch from your laptop, scale globally, and reach customers 24/7. In this blog, we’ll break down what it means to be a digital entrepreneur, the must-have traits for success, and a step-by-step guide to turning your idea into a thriving online business.

    Table of Contents

    Who is a Digital Entrepreneur?

    A digital entrepreneur is someone who builds and operates a business primarily online. They leverage digital tools, platforms, and technology to create and sell products or services. This can include e-commerce businesses, online courses, content creation, software-as-a-service (SaaS), and more.

    Unlike traditional entrepreneurs who rely on physical storefronts or services, digital entrepreneurs operate in the virtual space, maximising global reach and scalability.

    Is Digital Entrepreneurship on The Rise?

    Yes! The digital entrepreneurship trend has grown significantly due to factors such as:

    This model has gained immense popularity due to advancements in , where people prefer personalised shopping experiences and direct engagement with brands.

    • Increased internet accessibility
    • Advancements in digital marketing
    • Changing consumer behaviour toward online shopping and services
    • Growth of remote work opportunities
    • Rise of automation and AI-driven business models

    Recent statistics show a significant increase in e-commerce and online-based businesses, highlighting the shift towards digital entrepreneurship.

    Digital Entrepreneur Vs Traditional Entrepreneur

    Key Differences:

    Feature Digital Entrepreneur Traditional Entrepreneur
    Business model Online-based Physical storefronts or services
    Investment Low startup costs High capital investment
    Scalability High, global reach Limited to physical locations
    Customer acquisition Digital marketing strategies In-person sales & marketing
    Flexibility Work from anywhere Location-dependent

    What Are The Traits Of a Digital Entrepreneur?

    Becoming a successful digital entrepreneur requires more than just a great idea—it takes a unique mix of skills and mindset to navigate the fast-paced online world. Here are the essential traits that set digital entrepreneurs apart:

    1. Adaptability – Ability to pivot based on market trends.
    2. Creativity – Innovative problem-solving and branding skills.
    3. Tech-Savviness – Understanding of digital tools and platforms.
    4. Risk-Taking – Willingness to experiment with new strategies.
    5. Data-Driven Thinking – Leveraging analytics for informed decision-making.
    6. Strong Digital Marketing Skills – Proficiency in SEO, social media, and content marketing.

    What Does a Digital Entrepreneur Do?

    Digital entrepreneurs engage in various activities, including:

    • Building and managing e-commerce businesses
    • Developing and selling digital products (eBooks, courses, software)
    • Leveraging social media for branding and marketing
    • Utilising SEO and paid ads to drive traffic
    • Managing customer relationships through CRM tools
    • Analysing market trends and optimising strategies

    Benefits of Being a Digital Entrepreneur

    1. Low Startup Costs – No need for physical infrastructure.
    2. Global Reach – Ability to sell products or services worldwide.
    3. Flexible Work Schedule – Work from anywhere at any time.
    4. Passive Income Opportunities – Recurring revenue models like memberships and subscriptions.
    5. Scalability – Easy to expand and grow a digital business.

    Limitations of Being a Digital Entrepreneur

    1. High Competition – Saturated online markets.
    2. Dependence on Technology – Reliance on digital tools and platforms.
    3. Cybersecurity Risks – Data breaches and online fraud concerns.
    4. Inconsistent Income – Revenue fluctuations based on demand and market changes.
    5. Continuous Learning – Rapidly evolving digital landscape requiring constant skill upgrades.

    Why Become a Digital Entrepreneur? Top 5 Reasons!

    1. Financial Independence

    Becoming a digital entrepreneur means you're no longer trading time for money in the traditional sense. You can create multiple income streams from online courses, affiliate marketing, and digital products, to subscription-based services.

    2. Flexibility and Work-Life Balance

    No more rigid 9-to-5. As a digital entrepreneur, you set your own hours, build around your energy peaks, and work from wherever you feel most productive- home, café, co-working space, or even the beach.
    This freedom allows you to spend more time with family, travel, or pursue personal interests while still growing a business that aligns with your lifestyle.

    3. Reach a Global Audience

    The internet removes geographical boundaries. You can launch a product in India and have your first customer in the US, Europe, or Southeast Asia within hours.

    4. Business Scalability

    Traditional businesses often require large teams, inventory, or physical space to grow. A digital business can scale rapidly without significant overhead. Automated systems, cloud tools, and digital marketing allow you to grow your impact and revenue exponentially with the same or fewer resources.

    5. Opportunities for Passive Income

    One of the biggest appeals of digital entrepreneurship is the potential to earn while you sleep. Once set up, digital assets like eBooks, online courses, memberships, or digital downloads can continue generating income without constant input.

    Essential Skills Required to Become a Digital Entrepreneur

    To succeed in digital entrepreneurship, one must develop key skills such as:

    • Digital Marketing (SEO, PPC, Social Media Marketing)
    • Content Creation (Blogs, Videos, Podcasts)
    • Social Media Management
    • Data Analytics & Market Research
    • Financial Management & Budgeting
    • Automation & CRM Tools Usage

    How to Start Your Digital Entrepreneurship Journey: A Step-by-Step Guide

    1. Identify a Niche

    Your journey begins with clarity. Start by choosing a niche that blends your passion, skills, and real-world demand.
    Ask yourself:

    • What topics or problems do I love talking about?
    • Where have I seen people willing to pay for solutions?
    • Can I offer something better, faster, or easier?

    2. Validate Your Business Idea

    Before you build, test the waters. Conduct market research to understand:

    • Who your ideal customer is
    • What problems do they face
    • What existing solutions exist (and how you can differentiate them)

    Try this:

    • Launch a simple landing page with a lead magnet or waitlist
    • Post polls or surveys in niche communities
    • Offer a small-scale paid beta to early adopters

    If people are willing to pay or share their email, you’re onto something.

    3. Build an Online Presence

    This is your digital storefront. A strong online presence builds trust and makes you discoverable.
    Start with:

    • A simple, professional website (think: one-page intro, services, and contact form)
    • Clear branding and messaging
    • Social media profiles on platforms where your audience spends time (Instagram, LinkedIn, Twitter, etc.)

    4. Develop a Digital Marketing Strategy

    Now it’s time to attract, engage, and convert your audience.
    An ideal digital marketing mix could include the following:

    • SEO: So you show up when people Google your niche
    • Content Marketing: Blogs, videos, or newsletters that build authority
    • Social Proof: Testimonials, case studies, user-generated content
    • Paid Ads: For targeted reach and faster growth

    5. Monetize Your Business

    Once you’ve built attention and trust, it’s time to turn value into revenue. Popular digital monetisation models include:

    • Selling digital products (eBooks, templates, courses)
    • Freemium + subscription (tools, communities, membership sites)
    • Affiliate marketing (earn by recommending tools/services you love)
    • E-commerce or dropshipping (selling physical products online)

    6. Scale Your Business

    With traction in place, shift focus to optimisation and scale:

    • Automate repetitive tasks (emails, invoicing, onboarding)
    • Hire freelancers or delegate support functions
    • Create systems to deliver value without your constant presence
    • Explore partnerships, international markets, or additional revenue streams

    Tools and Resources for Digital Entrepreneurs

    Here are essential tools digital entrepreneurs can use:

    • Website Builders: WordPress, Shopify, Wix
    • E-commerce Platforms: WooCommerce, BigCommerce
    • Digital Marketing Tools: Google Analytics, SEMrush, Mailchimp
    • Social Media Management: Hootsuite, Buffer
    • SEO Tools: Ahrefs, Moz
    • Financial Management: QuickBooks, Razorpay

    2. Validate Your Business Idea

    Before you build, test the waters. Conduct market research to understand:

    • Who your ideal customer is
    • What problems do they face
    • What existing solutions exist (and how you can differentiate them)

    Try this:

    • Launch a simple landing page with a lead magnet or waitlist
    • Post polls or surveys in niche communities
    • Offer a small-scale paid beta to early adopters

    If people are willing to pay or share their email, you’re onto something.

    3. Build an Online Presence

    This is your digital storefront. A strong online presence builds trust and makes you discoverable.
    Start with:

    • A simple, professional website (think: one-page intro, services, and contact form)
    • Clear branding and messaging
    • Social media profiles on platforms where your audience spends time (Instagram, LinkedIn, Twitter, etc.)

    4. Develop a Digital Marketing Strategy

    Now it’s time to attract, engage, and convert your audience.
    An ideal digital marketing mix could include the following:

    • SEO: So you show up when people Google your niche
    • Content Marketing: Blogs, videos, or newsletters that build authority
    • Social Proof: Testimonials, case studies, user-generated content
    • Paid Ads: For targeted reach and faster growth

    5. Monetize Your Business

    Once you’ve built attention and trust, it’s time to turn value into revenue. Popular digital monetisation models include:

    • Selling digital products (eBooks, templates, courses)
    • Freemium + subscription (tools, communities, membership sites)
    • Affiliate marketing (earn by recommending tools/services you love)
    • E-commerce or dropshipping (selling physical products online)

    6. Scale Your Business

    With traction in place, shift focus to optimisation and scale:

    • Automate repetitive tasks (emails, invoicing, onboarding)
    • Hire freelancers or delegate support functions
    • Create systems to deliver value without your constant presence
    • Explore partnerships, international markets, or additional revenue streams

    How Razorpay Rize Helps Digital Entrepreneurs?

    Razorpay Rize offers valuable solutions for digital entrepreneurs by providing:

    • Company Registration Assistance: Helping entrepreneurs legally establish their businesses as Private Limited, LLP & OPC.
    • Community: Building a strong community of 1,000+ early-stage founders to learn and grow together.
    • Dedicated programs: Running programs like Rize for YC and Pitch Perfect to help you pitch better, apply to YC, and raise funds.
    • Tools & Resources: Providing essential tools and resources like company registration, startup banking, and ready-to-use templates.

    Final Thoughts

    Digital entrepreneurship is a great way to start and grow a business with low upfront costs. With the right tools, skills, and mindset, anyone can build a profitable venture online. Whether it’s an eCommerce store, a coaching business, or a content brand, success comes from learning, staying creative, and adapting to change. There’s never been a better time to get started!

    Frequently Asked Questions

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    (Pvt. Ltd.)

    1,499 + Govt. Fee
    BEST SUITED FOR
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    • Businesses looking to issue shares
    • Businesses seeking investment through equity-based funding


    Limited Liability Partnership
    (LLP)

    1,499 + Govt. Fee
    BEST SUITED FOR
    • Professional services 
    • Firms seeking any capital contribution from Partners
    • Firms sharing resources with limited liability 

    One Person Company
    (OPC)

    1,499 + Govt. Fee
    BEST SUITED FOR
    • Freelancers, Small-scale businesses
    • Businesses looking for minimal compliance
    • Businesses looking for single-ownership

    Private Limited Company
    (Pvt. Ltd.)

    1,499 + Govt. Fee
    BEST SUITED FOR
    • Service-based businesses
    • Businesses looking to issue shares
    • Businesses seeking investment through equity-based funding


    One Person Company
    (OPC)

    1,499 + Govt. Fee
    BEST SUITED FOR
    • Freelancers, Small-scale businesses
    • Businesses looking for minimal compliance
    • Businesses looking for single-ownership

    Private Limited Company
    (Pvt. Ltd.)

    1,499 + Govt. Fee
    BEST SUITED FOR
    • Service-based businesses
    • Businesses looking to issue shares
    • Businesses seeking investment through equity-based funding


    Limited Liability Partnership
    (LLP)

    1,499 + Govt. Fee
    BEST SUITED FOR
    • Professional services 
    • Firms seeking any capital contribution from Partners
    • Firms sharing resources with limited liability 

    Frequently Asked Questions

    How do I identify a market for my digital business?

    Start by exploring what you're passionate about and combine that with real demand. Look for problems people face, check search trends, join online communities, and analyse what people are already paying for. A good market has demand, room for differentiation, and growth potential.

    How do I manage the growth and scale of my digital company?

    Use tools and systems to automate tasks, hire freelancers or small teams, and focus on what's working. Invest in marketing, improve your product or service, and stay close to customer feedback.

    Do I need a lot of money to start a digital business?

    Not necessarily. Many digital businesses can be started with a small budget. You can begin with a simple website, free tools, and organic marketing. Start lean, validate fast, and reinvest profits into growth.

    How can I validate my digital business idea before launching?

    Talk to potential customers, create a landing page or MVP, run surveys or offer a pre-sale. The goal is to test interest and willingness to pay before investing too much time.

    How do digital entrepreneurs make money?

    They earn through various models like:

    • Selling digital products (eBooks, courses, templates)
    • Offering services or consulting
    • Running online stores (eCommerce)
    • Subscriptions or memberships
    • Affiliate marketing and ads

    Choose the model that best fits your skills and audience.

    Swagatika Mohapatra

    Swagatika Mohapatra is a storyteller & content strategist. She currently leads content and community at Razorpay Rize, a founder-first initiative that supports early-stage & growth-stage startups in India across tech, D2C, and global export categories.

    Over the last 4+ years, she’s built a stronghold in content strategy, UX writing, and startup storytelling. At Rize, she’s the mind behind everything from founder playbooks and company registration explainers to deep-dive blogs on brand-building, metrics, and product-market fit.

    Read more

    Rize.Start

    Hassle free company registration through Razorpay Rize

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    Make your business ready to scale. Become an incorporated company through Razorpay Rize.

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    Dhaval Trivedi
    Basanth Verma
    shopeg.in
    Exciting news! Incorporation of our company, FoxSell, with Razorpay Rize was extremely smooth and straightforward. We highly recommend them. Thank you Razorpay Rize for making it easy to set up our business in India.
    @foxsellapp
    #razorpayrize #rizeincorporation
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    We would recommend Razorpay Rize incorporation services to any founder without a second doubt. The process was beyond efficient and show's razorpay founder's commitment and vision to truly help entrepreneur's and early stage startups to get them incorporated with ease. If you wanna get incorporated, pick them. Thanks for the help Razorpay.

    #entrepreneur #tbsmagazine #rize #razorpay #feedback
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    Hey, Guys!
    We just got incorporated yesterday.
    Thanks to Rize team for all the Support.
    It was a wonderful experience.
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