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There are different business model to start your business. Private limited company, public limited company, Limited Liability Partnership and One Person Company are the most common business models. Forming LLP is one of those business models.
To go on through this route have its own benefits and drawbacks, which we are going to discuss in this article. This will definitely help the businessman to know the additional insight of this business model.
Earlier LLPs were required to obtain prior approval from Government but now this requirement has been done away. For ease of doing business in India, the Government has allowed 100% FDI in LLP under the automatic route.
But it is like that LLP is the best business model. Each and Every business model has its own suitability to meet the needs of entrepreneur. Normally, LLP is not preferred by those who want to expand their business in India because of many issues. Therefore, they go for registration of private limited company or public limited company. Following are few points which indicate the negative side of the LLP:
Having discussed so far, you can evaluate that benefits to form LLP surpass its weak area.
Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 years, I have been creating content on various subjects such as banking, insurance, telecom, and all the important registration and licensing processes for various companies. I'm here to help everyone with my expertise in these areas through my articles.