A Limited Liability Partnership (LLP) is a hybrid business structure that combines the flexibility of a partnership with the limited liability protection of a company. It allows partners to manage the business directly while keeping their personal assets protected from business liabilities, making Limited Liability Partnership (LLP) registration a preferred choice for professionals and growing businesses.
They are popular among professionals, service businesses, and small to mid-sized firms due to their low compliance requirements and operational flexibility.
LLPs in India are regulated by the Ministry of Corporate Affairs (MCA) under the LLP Act, 2008. The Registrar of Companies (ROC) oversees the registration of LLPs, compliance filings, and governance.