Limited Liability Partnership (LLP)

A foreign company may establish its locally incorporated subsidiary with 100% equity.  A foreign company can indulge in all activities , there are Currently partnership firms are registered by the provincial governments as partnership law is provincial subject. Under partnership law , Partnership Act,1932, the liability of each partner is unlimited. Few year back concept of Limited Liability Partnership (LLP) was introduced by the SECP. Under the proposed LLP law the federal government register partnership business and SECP will regulates LLP’s . The liability of the partners will be limited under the proposed law. However SECP has not started the process of registering LLP, it is expected that soon it will be initiated by SECP.only few areas, relating to national security, in which a foreign company cannot make investment