LLP Destination
Why LLP Back
A need has been felt for a long time for a new corporate form that would provide an alternative to the traditional partnership with unlimited personal liability on the one hand, and, the compliance based structure of the private or unlisted public company on the other hand. With this objective in view, the Limited Liability Partnership Act, 2008 was enacted by the Parliament which received the assent of the President on 7th January, 2009 and was notified with effect from 31st March, 2009.

LLP is a hybrid form of business organization structure which combines the advantages of the Partnership firm and the Company Structure. LLP offers the flexibility of a partnership firm and reduces the compliances of a company structure.

Though the enactment regarding Limited Liability Partnership ("LLP") finally came into operation in 2009 in India, the concept of limited liability partnership is not new; in fact is more than 150 year old concept. It is one of the most renowned forms of business organizations worldwide.

Why Do I Need To Form LLP Over Other Business Structures

Advantages of LLP

Over Partnership Structure Over Private Company Structure