LLP Registration:
The procedure for formation of a LLP is very similar to that of a Private Limited Company incorporation procedure. A minimum of two Partners are required to start the LLP formation procedure and a registered office location is required within India.
LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. The LLP is a separate legal entity, is liable to the full extent of its assets but liability of the partners is limited to their agreed contribution in the LLP.
Benefits of an LLP
- Limited liability.
- Flexibility.
- The LLP is deemed to be a legal person. ...
- Corporate ownership. ...
- Designate and non-designate members. ...
- Protecting the partnership name