A limited liability partnership (LLP) is a business entity comprising two or more partners who operate or manage a business together. An LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. It is capable of entering into contracts and holding property in its own name.
The minimum number of partners for a Labuan LLP is two partners, ie one designated partner and one limited partner.
A Labuan LLP is a type of business entity that permits a partner to be shielded from liability for partnership obligations created by another partner's, or person's misconduct.