Limited Liability Partnership (LLP) is a new corporate structure, which combines the flexibility of a partnership and the advantages of limited liability of a company at affordable price. It is an alternative corporate business vehicle that provides the benefits of limited liability of a company, but allows its members the flexibility of organizing their internal management on the basis of a mutually arrived agreement, as the case in a partnership firm.
A private limited liability company cannot offer its shares to the public on the stock exchange or any other organized market. Minimum share capital is SEK 100,000.The board of directors in a private limited liability company must have at least one director and one alternate director. If there are less than three directors, at least one alternate director must be appointed. The number of directors and alternate Directors must be stated in the articles of association.
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