Business Registration As Limited Liability Partnership (LLP)

Limited Liability Partnership (LLP)
The LLP (Limited Liability Partnership) is a popular choice for entrepreneurs due to its unique blend of advantages from both partnership firms and companies. It combines the benefits of these two forms of organization into a single entity. To register an LLP through the MCA Portal, a minimum of two partners is required, with no maximum limit on the number of partners.

It requires minimum of two designated partners who shall be individuals, and at least one of them should be resident in India. The LLP agreement governs the rights and responsibilities of designated partners. They have direct accountability for ensuring compliance with all the provisions outlined in the LLP Act of 2008 and the provisions specified in the LLP agreement.

It has a separate legal entity just like companies.
The liability of each partner is limited to the contribution made by the partner.
The cost of forming an LLP is low.
Less compliance and regulations.
No requirement of minimum capital contribution.