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Since, LLP is a hybrid of a company and a partnership it has combination of benefits of both a company and a partnership listed below :

  • Separate Legal Entity

  • Limited Liability

  • Profit Motive

  • Low cost of setup

  • Tax Advantages

  • Internal governance by contractual agreement

  • The management-ownership divide is not there in a limited liability partnership

  • More flexibility as compared to a company

  • Lesser compliance requirements as compared to a company

  • Dis-joint liability – partners to be shielded from joint liability created by another partner’s wrongful acts or misconduct.

  • There is no maximum limit for the number of shareholders in the Limited Liability Partnership.

These LLP Benefits makes LLP a modern and preferable form of business. Register LLP with LegalRaasta.