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Limited Liability Partership

A Limited Liability Partnership (LLP) is a business structure where the partners have limited personal liability for the debts and actions of the partnership. This means that each partner's personal assets are protected, and they are only responsible for the business's liabilities up to the amount they have invested. LLPs combine the benefits of a partnership, such as flexibility in management and profit sharing, with the liability protection typically found in corporations.

Contact information

Features

​Limited Liability

​Each partner's liability is limited to their investment in the LLP. They are not personally responsible for the LLP’s debts or liabilities beyond what they have invested, protecting their personal assets.

​Perpetual Succession

The LLP continues to exist even if a partner leaves or passes away. This provides continuity and stability to the business.

Flexible Management

Unlike corporations, LLPs offer flexibility in management. Partners can directly manage the business without a mandatory board of directors. They can also agree on how to share profits and responsibilities among themselves.

Regulation and Compliance

​LLPs are subject to specific regulations and must comply with reporting and disclosure requirements, although these are often less stringent than those for corporations.

Separate Legal Entity

An LLP is a separate legal entity from its partners. This means the LLP can own property, sue, and be sued in its own name, distinct from the individual partners.

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Taxation

In many jurisdictions, LLPs enjoy pass-through taxation, where profits are taxed at the individual partners' tax rates, avoiding the double taxation often faced by corporations.

Steps to register a Limited Liability Partnership

1. Fill the contact form /make appointment

2. Initial Consultation with our experts

3. Documents         Preparation.......

4.  Process ahead with guidance

Relevant FAQs

​How is an LLP different from a general partnership?

​In a general partnership, partners have unlimited personal liability for the business’s debts and obligations. In an LLP, partners have limited liability, meaning they are only responsible for the LLP’s debts up to the amount they have invested.

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