It is easy to register a LLP for a new start up, since the requirements are easy to understand. A minimum of 2 partners are required and out of which one should be a resident of India. There is no minimum capital requirement in LLP and also the registration cost for LLP is quite less. It is an easiest form of business without much obligations. The commitments and responsibilities of the partner is easy in business functioning. The compliances are lesser than the private limited company and there is no need to fear about the AGM and board meeting. The decisions are taken by the majority in LLP agreement. The form 8 and form 11 is to be filed annually. Limited Liability Partnership is a separate legal entity. The personal assets will remain same in LLP (i.e) there is an assurance for protection of debts. The realistic fact in LLP is that a partner is not liable for the act or mistakes committed by another partner.