In Pakistan, a limited liability partnership (LLP) is a relatively new business structure. It was introduced in 2017 by the Securities and Exchange Commission of Pakistan (SECP).

The SECP took this step in response to a high supply for an alternative to traditional partnership structure (AOP) and private limited company incorporation; an alternative which permit entrepreneurs to arrange their businesses in an adaptable, imaginative, and efficient way.

A LLP, unlike an AOP, is a separate legal entity. This implies that each partner's liability is limited to his or her ownership in the LLP.

The cost of forming and operating an LLP is higher than that of an AOP but lower than that of a Private Limited Liability company.

LLPs are taxed in the same way that AOPs are.