Advantage of LLP :
Limited liability: The primary advantage of an LLP is that it provides limited liability protection to its partners. This means that each partner is only liable for their own actions and the actions of the people they supervise. Partners are not personally responsible for the debts, obligations, or liabilities of the partnership.
Flexibility: An LLP is a flexible business structure that allows partners to structure their partnership agreement in a way that best suits their needs. This includes the ability to determine the amount of control each partner has in the partnership, the distribution of profits and losses, and the duration of the partnership.
Tax benefits: An LLP is a pass-through entity, which means that the partnership itself does not pay taxes. Instead, the profits and losses of the partnership are passed through to the individual partners, who report them on their personal tax returns. This can result in a lower tax burden for the partners.
Limited compliance requirements: Compared to other business structures like corporations, LLPs have relatively fewer compliance requirements, which can save time and money for partners. For example, LLPs are not required to hold annual meetings or keep extensive records.
Please refer terms and conditions page on the website.