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Limited Liability
What is a Limited Liability Partnership (LLP)?
A corporate business vehicle that enables professional expertise and entrepreneurial initiative to combine and operate in flexible, innovative and efficient manner, providing benefits of limited liability while allowing its members the flexibility for organizing their internal structure as a partnership
Features of LLP
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The LLP has Separate Legal Entity i.e. the LLP and the partners are distinct from each other.
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Minimum of 2 partners are required to form a LLP. However, there is no limit on the maximum number of partners.
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No requirement of Minimum Capital Contribution.
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The LLP Act does not restrict the benefit of LLP structure to certain classes of Professionals only and would be available for use by any enterprise.
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Limited Liability Partnership Registration
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