Reasons to register a Limited Liability Partnership
Separate Legal Entity
Limited Liability Partnership is a legal entity and a juristic person established under the Companies Act.
Members of LLP
Two or More Person or group of persons called designated Partners
The partnership deed will determine the ownership of the firm, profit sharing ratio, rights and responsibilities of each of the Partner.
Liability of Partners
Liability of Partners will be Limited.
In case of LLP financials audited need to be filed with ROC.