Limited Liability Company (LLP): is a new corporate structure that combines the advantages of the limited liability of a company with low compliance costs and the flexibility of a partnership And. It is an alternative business vehicle that offers the advantages of the limited liability of a company, but also allows its members to flexibly organize their internal management based on a mutually agreed upon agreement, just as in a partnership . It would generally be useful for small and medium-sized enterprises, and in particular for companies in the service sector, due to the flexibility in its structure and operation. Internationally, LLPs are the preferred business vehicle, especially for the service sector and for activities involving professionals. The LPP is governed by the provisions of the Limited Liability Partnership Act 2008. The features of the LPP are as follows: -• Two or more persons, associated to carry on a lawful business for the purpose of earning profit, may subscribe their names in a memorandum of association and fill the same with the Registrar to form an LLP. The LLP will be a legal person and legal entity separate from its members. The LLP will have perpetual succession.• The mutual rights and duties of the partners of an LLP inter se and those of the LLP and its partners will be governed by an agreement between partners or between the LLP and the partners subject to the provisions of the LLP Act 2008. This act offers the flexibility to work out the deal as per their choice. • No partner will be liable due to the independent or unauthorized actions of other partners or their misconduct. The LLP will be a separate legal entity and will be liable to the maximum extent possible or… middle of the paper… will have to comply with certain insurance requirements. LLPs with sufficient resources are not required to carry insurance. These restrictions are imposed by the State to ensure that the company can maintain the claims made against the company.6. Admission of a new partner: An additional agreement should contain details of new partners. Its contribution should be created and accordingly the existing partners should review the contribution held by them. Such amendments must be filed with the Registrar of Companies in whose jurisdiction the registered office of the LLP was located.7. Permission of Foreign Direct Investment (FDI) in LLP: Foreign Direct Investment in LLP is permitted only through the government route. Foreign direct investments in LLPs are not permitted under the automatic route. FDI in LLP is also allowed only to those sectors through government route where 100% FDI is allowed under FDI policy under automatic route.