what is LLP

LLP means Limited Liability Partnership  has become a preferable form of organization among entrepreneurs as it incorporates the benefits of both partnership firm and company into a single form of organization.

Features of Limited Liability Partnership (LLP)

It has a separate legal entity just like companies

The liability of each partner is limited to the contribution made by partner

The cost of forming an LLP is low

Less compliance and regulations

No requirement of minimum capital contribution