In India, a limited liability partnership (LLP) is a business structure that offers the benefits of both a partnership and a private limited company. It is a separate legal entity from its partners, meaning that the partners are not personally liable for the debts and obligations of the partnership. This allows the partners to limit their liability and protect their personal assets from being used to pay the partnership’s debts.
To register a limited liability partnership in India, you must follow these steps:
Once the MCA approves the registration, you will receive a certificate of incorporation, which will serve as proof of your LLP’s registration. You can then apply for any licenses or permits that may be required for your business.
There are several benefits to forming a limited liability partnership (LLP), including the following: