In an LP, General Partners manage the business with unlimited liability, while Limited Partners contribute capital and have liability limited to their investment.

A Limited Liability Partnership (LLP) is a body corporate with a legal personality separate from its members. It is a hybrid business form that infuses two types of business; a partnership and a limited liability company.

This option is suited to a group of professionals (accountants, lawyers, doctors, architects, etc) with lots of experience and clients between them, as it allows them to pool resources together, thereby lowering the cost of doing business while increasing the LLP’s capacity for growth.

According to Sections 747 and 748 of the Companies and Allied Matters Act (CAMA), every LLP must have at least two partners, with no maximum limit. These partners can be individuals or corporate bodies, provided they are of sound mind and not undischarged bankrupts.

We offer a range of services to make it easy for you to get started, from facilitating registration with the Corporate Affairs Commission (CAC) to obtaining your Tax Identification Number (TIN). Our comprehensive business support will ensure you have everything you need to succeed.

Start your business today with SplashDict!

Limited Liability Partnership Company Registration

Register your Limited Partnership Liability (LLP) Business in Nigeria

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

  • Business Name Search and Reservation: We'll check availability and reserve your desired name with the CAC.

  • Documentation Preparation: We assist in preparing all necessary documents for registration.

  • Submission and Processing: We ensure all requirements are met and manage the submission process for efficient processing by the CAC.

  • Including CAC filing fee: Included in the price of all our packages. There are no hidden costs, what you see is what you get.

  • Tax Identification Number (TIN): We facilitate TIN acquisition From the FIRS.

  • Delivery of documents: Upon registration, we provide Documents including - the Certificate of Registration and Status Report.

  • Secure Digital Storage: Your documents are securely stored online for easy access without extra cost or waiting.

  • SCUMML Certificate: We obtain the Special Control Unit against Money Laundering certificate to ensure compliance.

  • Business Bank Account: We offer you a choice of up to 8 business bank or payment institution accounts, including popular ones like GTB, UBA, and First Bank.

  • Free Domain Name: To help establish your business online, we'll give you a free .com or .com.ng domain name for a year.

  • Unlimited Support: We’re here for our customers whenever you need; call, email, or chat with us and we’ll be happy to help.

Our Process

Make Payment Online

Add the product to the cart on the product page, then proceed to checkout and complete the secured online payment.

Tell us about your business

Come up with a name for your business and Answer a few questions. Our easy online form can be completed in just 5 minutes or less.

We'll process Application

Based on the information you provide, We will process and file the documents.

Receive your documents

Once your registration documents have been approved by the Corporate Affairs Commission (CAC), you will receive your completed business entity package by e-mail/mail.

Why choose SplashDict?

Fast

Register on our platform in 5 minutes - we'll then prepare and file all the necessary documents.

Efficiency

100% digital processes - ensuring smooth delivery, from anywhere, anytime.

Reliable

Founders can always rely on us to securely manage their confidential information—safe from any unauthorized and prying eyes.

Transparent pricing

No hidden fees, no bad surprises - helping you plan ahead.

Packages

Find the best package to start your business:

Standard

₦45,000

  • Nigerian Limited Liability Partnership (LLP) Business Registration
  • CAC Filing Fee Included
  • Digital delivery of Certificate of Registration
  • Digital delivery of Status report
  • Digital Storage of Documents
  • Tax Identification Number (TIN) inclusive
  • Registered in 2-7 working days
  • Lifetime Support and Assistance

Premium

₦80,000

  • All included in the Standard Plan
  • 1-year Full Corporate Secretarial Support
  • Printed Company Documents (Certificate of Registration, Status Report)
  • VAT Registration
  • Business Seal
  • Business Bank Account opening assistance
  • Free .com or .com.ng Domain Name
requirements

Requirements for Registering a Limited Liability Partnership (LLP) in Nigeria

To complete the Registration of Your Limited Partnership Firm in Nigeria, you'll have to provide the following details upon Submission;

  • Proposed LLP Name: Two options for name availability check and reservation.
  • The objectives and nature of business.
  • Details of at least 2 partners (Name, address, signature, passport, I.D., phone, email, etc).
  • Details of verifiable registered address and address of the head office (if different from registered address), company’s email, and phone number.
  • Partnership Agreement (We can provide this). 

Features of Limited Liability Partnership (LLP) Business

How does a Limited Liability Partnership (LLP) Work?

  • Separate Legal Entity: An LLP is a body corporate with a legal personality separate from its partners, meaning it can own property, sue, and be sued in its own name.

  • 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.

  • Body Corporate: An LLP can have individuals, LLPs (domestic or foreign), or companies (private or public) as partners, including other corporations.

  • Limited Liability: Partners have limited liability, meaning they are not personally liable for the debts of the LLP beyond their capital contributions.

  • Perpetual Succession: An LLP continues to exist regardless of changes in the partnership, such as the addition or withdrawal of partners, ensuring business continuity.

  • No Maximum Limit on Partners: There is no upper limit on the number of partners in an LLP, though it must have at least two partners.

  • Tax Benefits: LLPs often benefit from pass-through taxation, meaning the income of the LLP is taxed only at the individual partner level, avoiding double taxation.

Benefits of Limited Liability Partnership (LPP) Business

Limited Liability Partnership (LPP) have several advantages that make them popular:

  • Limited Liability for Limited Partners: Limited partners' risk is confined to their investment, protecting their assets from the partnership's debts and obligations.

  • Pass-Through Taxation: The LP itself is not taxed. Instead, profits and losses are passed through to the partners, who report them on their tax returns, potentially avoiding double taxation.

  • Management Flexibility: General partners have full control over the business operations, allowing for clear decision-making and management.

  • Attracting Passive Investors: The limited liability aspect is attractive to passive investors who wish to contribute capital without involvement in day-to-day management.

  • Continuity: The partnership can continue even if a limited partner leaves, providing stability to the business.

  • Attractive for Specific Projects: LPs are often used for real estate investments, film production, and other projects where a clear distinction between investors and managers is beneficial.

Examples of Limited Liability Partnership Business

Here are some examples of Limited Liability Partnership (LLP) businesses:

- Law Firms: Legal practice partnerships offering services in corporate law, family law, criminal defense, etc.

- Accounting Firms: Chartered accountants, tax advisory services, audit and assurance services.

- Medical Practices: Group medical practices, dental clinics, specialist medical services.

- Architectural Firms: Architecture and design firms, urban planning consultancies, landscape architecture.

- Consulting Firms: Management consulting, IT consulting, financial consulting services.

Limited Liability Partnerships (LLP) Registration

- Engineering Firms: Civil engineering, structural engineering, mechanical and electrical engineering consultancies.

- Real Estate Agencies: Property management services, real estate brokerage, real estate investment advisory.

- Advertising Agencies: Marketing firms, digital advertising agencies, brand management services.

- Investment Firms: Financial advisory services, wealth management, investment banking.

- Software Development: Custom software development, app development, IT services.

- Educational Services: Private tutoring centers, educational consultancy firms, online education platforms.

- Healthcare Services: Allied health services, physiotherapy clinics, mental health counseling.

- Environmental Consulting: Environmental impact assessments, sustainability consulting, renewable energy consulting.

- Media Production: Film and video production companies, digital media agencies, content creation firms.

- Human Resources Firms: Recruitment agencies, HR consultancy services, talent management firms.

- Interior Design Firms: Interior design consultancies, home staging services, commercial space planning.

- Graphic Design Studios: Branding and identity design, web design, print and digital design services.

- Event Management: Corporate event planning, wedding planning services, conference and exhibition management.

- Research and Development: Scientific research organizations, product development consultancies, tech innovation labs.

- Public Relations Firms: PR consultancies, crisis management, media relations, corporate communications.

- Training and Development: Corporate training providers, personal development coaching, skill enhancement workshops.

- Non-Profit Organizations: NGOs focusing on social issues, charitable foundations, advocacy groups (while generally non-profit, they can use LLP structure for certain activities).


These examples show how LLPs can be effectively utilized across various professional and business sectors, offering a combination of limited liability and flexible management structures.

Limited Partnership FAQs

You can find some of our most frequently asked questions below;

In simple terms, a partnership is where two or more people in business decide to join forces and work together.

The only essential component is that the partners are working together to make a profit – you can’t run a charity or club as a partnership for example.

An unincorporated business structure that two or more parties form and own together is called a partnership. These parties, called partners, may be individuals, corporations, other partnerships, or other legal entities.  

Partners may contribute capital, labor, skills, and experience to the business. They may have unlimited legal liability for the actions of the partnership and its partners.  

The most common type of partner is a general partner, who actively manages and exercises control over the business operations.  

Limited partners have limited legal liability. This type of partner cannot manage or exercise control over the business.

Among the most common types of partnerships are general partnerships (GP), limited partnerships (LP), and limited liability partnerships (LLP).  

A partnership can even start without an oral or written contract. Where there is a written contract between the partners, it is called a partnership agreement. The partners agree on the purpose of the partnership and their rights and responsibilities.

An LLP is a business structure that combines the flexibility of a partnership with the limited liability protection of a corporation. It is a separate legal entity from its partners.

LLP is a type of partnership wherein the liabilities of partners towards the business are limited to the extent of their share in its investments. It helps partners get over the drawback of a general partnership, where they have to take responsibility for all the liabilities alone. This partnership setting is common among solicitors, accountants, and entrepreneurs.

In an LLP, partners have limited liability, meaning they are not personally liable for the debts and obligations of the LLP. In a general partnership, partners have unlimited liability.

Partners in an LLP can be individuals, companies, or other legal entities, including foreign LLPs.

 

The registration process timeline varies depending on CAC and the efficiency of processing. This is the timeline:

  • Name Search and reservation: 6 - 24 hours from submission.
  • Grant of Certificate of Registration: 24 -96 Hours from filing.
  • Total time: Approximately 2 - 7 days.

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