Limited Liability Partnership (LLP)
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A Limited Liability Partnership offers the operational flexibility of a traditional partnership along with the limited liability safeguards of a corporation. A Limited Liability Partnership, governed by the LLP Act of 2008, must be registered compulsorily. In an LLP, partners' liability is capped at their agreed-upon capital contribution. It is able to hold property under its own name. The Authority rests with the Ministry of Corporate Affairs.
The LLP registration process includes obtaining a Digital Signature Certificate, securing Name Approval, completing the Incorporation form, and drafting the LLP agreement. Forming a Limited Liability Partnership ( LLP) in India is fully conducted online through the Ministry of Corporate Affairs ( MCA) Portal.
