Limited Liability Partnership LLPPakistan
What it takes to form, own and run a limited liability partnership in Pakistan, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
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A limited liability partnership shall be a body corporate by registration under this Act and shall be a legal entity separate from its partners.
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Every limited liability partnership shall have at least two partners.
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Every limited liability partnership shall have at least one designated partner who,— (a) is an individual; and (b) a resident in Pakistan:
The registry’s and the law’s own pages do not mention it.
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“association of persons” includes a firm, a Hindu undivided family, any artificial juridical person1[, limited liability partnership]
Form it
Who registers it
- Registry
- Formed without visiting
- Not in our records
- Formed online
- Not in our records
What it takes to form
- A notary
- Not stated
The registry’s and the law’s own pages do not mention it.
- A resident director
- Required
- Paying up the capital
- Not in our records
Own it
Who may own and run it
- Directors
- At least 1 · one must live there · individuals only
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Every limited liability partnership shall have at least one designated partner who,— (a) is an individual; and (b) a resident in Pakistan:
- Shareholders
- At least 2 · a company may be one
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Every limited liability partnership shall have at least two partners.
- Members
- At least 2
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Every limited liability partnership shall have at least two partners.
- A local company secretary
- Not stated
The registry’s and the law’s own pages do not mention it.
- A local registered agent
- Not required
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it shall have a registered office to which all communications, notices and other documents may be addressed and served by registered post or by courier
Each year, at the registry
- Annual registry fee
- Not in our records
- Accounts on the public record
- Not stated
The registry’s and the law’s own pages do not mention it.
- Audit for a small company
- Not stated
The registry’s and the law’s own pages do not mention it.
- Audit
- Statement of accounts to be audited in accordance with regulations prescribed by the Commission; the Commission may exempt classes (s.20(4)).
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The statement of accounts of limited liability partnerships shall be audited in accordance with the regulations as may be prescribed by the Commission
Important dates
When each obligation falls due, as the authority states it.
- Statement of accounts prepared and signed by the designated partners
- 4 months after the end of the accounting period
With Registrar, only for classes of LLP the Commission specifies
Filing with the Registrar applies only to classes notified by the Commission (s.20(3)); preparation within four months of year end applies to every LLP (s.20(2)).
What is public
- Directors
- Public
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The incorporation document, names of partners and changes, if any, made therein and any other documents filed by the limited liability partnership from time to time, shall be available for inspection in office of the Registrar by any
- Shareholders
- Public
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The incorporation document, names of partners and changes, if any, made therein and any other documents filed by the limited liability partnership from time to time, shall be available for inspection in office of the Registrar by any
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Through owners
An LLP is an association of persons for the purposes of the Income Tax Ordinance 2001 and not a company.
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“association of persons” includes a firm, a Hindu undivided family, any artificial juridical person1[, limited liability partnership]
- CFC rules in Pakistan
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- Winding up, either voluntary or by the Court (Limited Liability Partnership Act 2017 s.29; Court grounds in s.30); or striking of the LLP's name off the register by the Registrar (s.37), the procedure being prescribed by the Commission's regulations, which may also provide for voluntary strike-off. The regulations were not read.
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The winding up of a limited liability partnership may be either voluntary or by the Court.
- Statutory fee
- Not in our records
Every business in Pakistan
VAT
- Standard rate
- Not in our recordsThe tax authority’s pages have not been read for Pakistan.
Payment and banking services
None of the services whose lists we hold names Pakistan. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Limited liability partnershipDerived our grouping, the same words in every country
- Name in law
- Limited Liability Partnership (LLP)
- ISO 20275 code
- XBK3Secondary GLEIF, Entity Legal Forms code list