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What are the Features of an LLP in India? South West Delhi
- Location: Delhi, South West Delhi, Delhi, India
The following are the features of an LLP in India:
- It’s a body corporate & legal entity separate from its members;
- The members of an LLP have a limited liability, limited to their agreed contribution to the LLP;
- It has the organizational flexibility of a Partnership;
- It has a perpetual succession, it continues to exist even after the founding partners leave the organization. All it requires is to have at least 2 partners;
- Its accounting & filing requirements are similar to that of a Company;
- Less compliance and regulations;
- No requirement for minimum capital contribution;
- At least one partner must be a resident of India;
- There is no upper limit on the maximum number of Partners.
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