Can an LLP do all types of businesses?

A Limited Liability Partnership (LLP) in India offers flexibility for a wide range of businesses, but it cannot operate in all sectors. LLPs are suitable for most service-oriented businesses, professional firms (such as legal or consulting firms), and small to medium-scale trading activities. However, LLPs are restricted from engaging in businesses that require stringent compliance and equity-based fundraising, like banking, insurance, and financial services. Sectors requiring extensive regulatory oversight may mandate a private or public limited company structure instead. Additionally, businesses involved in sectors where 100% Foreign Direct Investment (FDI) is not allowed or require government approval for FDI face limitations when set up as LLPs. Thus, while LLPs are versatile, they are not suitable for every industry, particularly those demanding significant capital and regulatory compliance.

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