A limited liability partnership (LLP) is a partnership in which some or all partners have limited liabilities. It therefore can exhibit aspects of partnerships and companies. In an LLP, each partner is not responsible or responsible for another partner's misconduct or negligence. It is governed by the Ministry of Corporate Affairs of India. Register your LLP with us we are India's Best Startup Consultants. Registration of Business as LLP Limited Liability Partnership in India at Lowest Price.
1. Separate Legal Entity: An LLP is a separate legal entity from its partners. It is a major advantage that is not available for normal partnerships.
2. Limited Liability: Limited Liability: It helps in protecting the personal assets of the owners with limited liability protection.
3. Lower cost: The cost of recording an LLP is comparatively lower than a private limited as well as a public limited company. 4. No Minimum Funds required: An LLP can be formed with the least amount of funds as there is no minimum capital requirement for incorporating an LLP.
4. No Minimum Capital required: An LLP can be formed with the least amount of capital as there is no minimum capital requirement for incorporating an LLP.