Features of Limited Liabilty Partnership
LLP features profit Sharing as in Partnership firms unlike dividend distribution in a private limited Company.
Minimum number of Partners
A Limited Liability Partnership should have a minimum of 2 partners and atleast one partner should be a resident of India.
Maximum number of partners
There is no upper limit on the maximum number of members unlike in Private Limited Companies.
There is no requirement of a minimum contribution. LLP can be formed with a mere sum of Rs. 10000.