LLP REGISTRATION
Under a Limited Liability Partnership (LLP), two or more partners form a special partnership and have limited liabilities. It is registered as per the compliance and regulatory guidelines of the Ministry of Corporate Affairs (MCA). LLP has become a preferable form of organization among entrepreneurs as it incorporates the benefits of both partnership firm and company into a single form of organization. The minimum number of partners to incorporate an LLP is 2. There is no upper limit on the maximum number of partners of LLP. Among the partners, there should be minimum two designated partners who shall be individuals, and at least one of them should be resident in India. The rights and duties of designated partners are governed by the LLP agreement. They are directly responsible for the compliance of all the provisions of LLP Act 2008 and provisions specified in LLP agreement.