A Limited Liability Partnership (LLP) is better for the partners as they do not have to use personal assets to pay off liabilities. Moreover LLP is not subject to excessive regulations.There are certain capital tax benefits and there is no cap with regard to a number of partners or capital contribution requirements and have minimum audit requirements.
- Obtain DIN and DSC
- Apply for name of LLP
- File the incorporation documents as in ordinary LLP registration and also file LLP Form 17
- Final Registration will have the effect of conversion of Partnership to LLP