LLP registration is most suitable for trading and family owned businesses. LLP has almost all the qualities of a Private limited company but the ease of Partnership firm. It is easy and cheaper to maintain than a Private Limited Company
The main features of a Limited Liability Partnership are:
The disadvantages of the LLP are:
The documents required from the partner and shareholders are:
Documents required of the proposed registered address are as follows:
LLP registration is best suited for family owned businesses. raising funds is difficult in LLP. LLP cannot be converted in Private Limited company.