Companies or organizations registering as Limited Liability Partnership are also referred to as LLP. These companies are governed by the Limited Liability Partnership Act 2008. All the partners of the business have limited liabilities in this type of partnership. The partners are not liable for the loss or any misconduct done by another partner.
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The Limited Liability Partnership benefits all the partners equally. It includes the advantages of both a partnership and a limited liability company. LLP in India is an ideal structure for professional services firms like financial advisories, marketing agencies, legal services, or consultancy services.
A Limited Liability Partnership registration is one of the simple processes. It’s incorporation and management is easy, unlike the other types of companies.
A Limited Liability Partnership in India can be started by a minimum of two partners and should have at least one Indian citizen as a partner. An LLP is a more systematic form of organization; it also has more credibility as compared to the traditional partnerships for business.
Limited Liability Partnership Registration
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