Minimum Requirements For LLP Registration.
- There should be a minimum of 2 partners.
- There is no capital requirement, i.e. partners are allowed to start their LLP from any amount of capital.
- 1 Indian Native Partner is necessary.
An LLP is a separately legal entity, just like a private limited company. Another similarity between the two is that the liability of the partners is limited to their contribution to the business. Also, partners don’t share liability for wrongdoings of other partners.
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