Limited Liability Partnership is a combination of Corporation and Partnership business. LLP contains elements of both ‘a corporate structure’ as well as ‘partnership firm structure’; it is many a time termed as a hybrid of a company and a partnership. The liability of the partners is limited just like any company but unlike the company’s shareholder's partners have the right to manage the business. LLP is incorporated under LLP Act, 2008 read with LLP Rules,2009.Requirements/Eligibility for registering LLP.· Legal partnership agreement.· Legal business objects.· Minimum of two-person to be acting as a Designated Partner.· Registered office for LLP.· Capital Contribution.· One designated partner must be a resident of India.· Name of the LLP must be unique. Documents required for registration of LLP 1. Proof of identity of the Partners. Such documents include   Passport, Driving license, Voter Id (Self-attested copy).2. Proof of address of the Partners. Such documents include bank statements, electricity bills, water bills, gas bills, and telephone bills (should not be older than 2 months).3. Indian nationals are mandatorily required to provide an attested copy of PAN4. Foreign nationals must submit an attested passport copy.5. No Objection Certificate from the owner of the Address   to be used as a Registered Office address6. In the case of leased property, the copy of the lease deed and copy of the Electricity bill / Water bill / Gas Bill / Telephone Bill for registered office property (should not be older than 2 months).7. In case of owned property, copy of sale deed and copy of Electricity bill / Water bill /Gas Bill /   Telephone Bill for registered office property (should not be older than 2 months).Advantages of LLP· Status of separate legal entity.· Possesses contractual rights.· Corporations can be owners in LLP.· Limited liability of partners while enjoying features of the company.Disadvantages of LLP· Transparency of business leads to a lack of secrecy.· LLP running with less than 2 members has to be dissolved. So, What is Instade Alogs is all about? It is an audio learning and discussion forum enriching our listeners to get all the valuable insights related to the professional world. You can connect with us on Linkedin | Twitter | Facebook | InstagramWe are Listed on the Below mentioned Platforms, you may subscribe to anyone to get instant updates :Listen on Spotify  | Apple Podcasts | Google Podcasts | Castbox | Radio Public | Pocket Casts | Overcast  | Breaker