LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. The LLP is a separate legal entity, is liable to the full extent of its assets but liability of the partners is limited to their agreed contribution in the LLP. In case of LLP, there are two partners involved, where there is no minimum limit of capital investment and one must be resident of India, i.e., he must be staying or have stayed for 182 days in India.
LLP is often done for the small type of businesses in India. However, a LLP due to its nature does not allow to issue equity shares, thus it cannot raise money from the general public. One can register a LLP through us in a very less time.
The biggest advantage of LLP form of business over a Pvt Ltd Company is in the fact that there is less compliance requirement in comparison to a Company.