It’s a business structure that combines:
It’s a popular choice for professionals (lawyers, consultants, architects, accountants) and small businesses looking for a flexible management structure without risking personal assets beyond their capital contribution.
It is planned when business is service-oriented, and promoters don’t plan to raise equity funding from VCs/angels, as LLPs don’t issue shares and intention is to run a small to mid-sized operation without much external funding.
Process to register LLP are as follows:
