LLP is now the most preferred legal entity for Professionals and service providers owing to the flexibility it provides. It provides a combination of ‘Partnership’ and ‘Limited Company’ business structures.
In a Limited Liability Partnership (LLP), two or more partners form a partnership that gives the benefits of limited liability of a company and the flexibility(in terms of management & ownership) of a partnership. There should be a minimum of 2 designated partners for a LLP to be formed and they should obtain the Director Identification Number and Digital Signature for registration of the LLP. It is registered as per the compliance and regulatory guidelines of the Ministry of Corporate Affairs (MCA).
We at ADCA provide the Best LLP Company Registration in Bangalore.
The LLP company registration process requires a minimum of 2 partners. There isn't any cap on the maximum number of partners. Among the partners, there should be a minimum of two designated partners who shall be individuals, and at least one of them should be resident in India. The rights and duties of designated partners are governed by the LLP agreement. They are directly responsible for the compliance of all the provisions of LLP Act 2008 and provisions specified in LLP agreement.
If you want to start your business with LLP registration, then you must get it registered under Limited liability Partnership Act, 2008.
No Minimum Investment : There is no requirement of minimum capital investment while registering under LLP. The partners’ investment may also not be in monetary form and they can invest in the LLP their movable, immovable, tangible or intangible property.
Easier ROC Annual Compliances : The ROC annual compliances of an LLP are simple and do not mandatorily require an audit of accounts. A Limited Liability Partnership is required to get a Tax Audit only for the following cases:
Easier Taxation Compliances : LLP is not liable to file ITR returns and the share of the designated partners is not subjected to tax. The other tax benefits applicable to an LLP in India are as follows:
Relaxed statutory compliances : Entrepreneurs form LLP’s often make use of relaxed statutory compliances.
Easy And Affordable LLP Registration : The LLP registration process is easier as compared to a company incorporation process as the formalities are straightforward and can be completed in 10-15 days.
The LLP registration documents required are :
The following steps are to be followed during the LLP registration process:
The LLP registration procedure approximately takes 12-15 working days, depending on the replies from ROC department to complete Limited Liability Partnership Registration procedure in Bangalore.
With over 15 years of experience in LLP registration in Bangalore at an affordable price to startups, we at ADCA take pride in helping you set up your business.