Limited Liability Partnership

A Limited Liability Partnership (LLP) provides the advantage of limited liability to its owners while requiring minimal maintenance. The partners enjoy limited liability towards creditors, meaning one partner is not held responsible for another partner's misconduct or negligence within the LLP. To incorporate an LLP, a minimum of 2 partners is required, with no maximum limit. The powers and responsibilities of designated partners are governed by the LLP agreement, and they are directly accountable for ensuring compliance with all provisions of the LLP Act 2008 and terms outlined in the LLP agreement.