LLP Company Registration: Meaning, Advantages and Procedure
LLP company registration is the process through which a business organization receives official recognition from the government as an LLP. An LLP encompasses all advantages as both partnership and company. It is granted the flexibility that a partnership offers with its various advantages where several of the personal assets of partners are left behind from failures or losses in the business . Key Advantages of LLP Registration Registration un der LLP has various advantages. F or example, it limits every partner's liability to his contribution of an agreed amount and ensures the safety of his personal assets. Business continuity is perpetual, in comparison to a partnership firm. Besides, an LLP is easier and less hectic to regulate as compared to a company. Tax benefits are also associated with respect to an LLP since DDT or Dividend Distribution Tax is not applicable . The Procedure for LLP Registration There is a systematic...