LLP Registration In Bangalore

LLP Registration In Bangalore

Register your company as LLP

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.

Minimum criteria for an LLP registration in Bangalore

  • Minimum of 2 partners
  • LLP can start its business immediately after the issue of Certificate of Incorporation.
  • Registered office in India.
  • At least one designated partner as an Indian resident in case of involvement of foreign nationals.
  • DPIN (Designated Partner Identification Number) for all partners.
  • DSC for all Partners.
  • Minor cannot be a partner

What are the features of an LLP 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.

  • It has a separate legal entity just like companies
  • The liability of each partner is limited to the contribution made by partner
  • The cost of forming an LLP is low
  • Less compliance and regulations
  • No requirement of minimum capital contribution

If you want to start your business with LLP registration, then you must get it registered under Limited liability Partnership Act, 2008.

Benefits on an LLP registration in Bangalore

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:

  • The annual turnover of the LLP is more than INR 40 lakhs
  • The total contribution of the Limited Liability Partnership is more than INR 25 lakhs.

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:

  • No Dividend Distribution Tax.
  • No Deemed Dividend.
  • Deductions allowed to an LLP in form of the Interest to partners, salaries paid, commission paid, bonus paid, and remuneration paid.

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.

Documents Required for LLP registration in Bangalore

The LLP registration documents required are :

  • Self-attested PAN card copy of proposed Designated Partners
  • Self-attested Address Proof of Proposed Designated Partners (Passport or Driving Licence or Voters ID or Aadhar Card)
  • Self-attested Latest Bank Statement or Mobile Bill or Gas (Not older than 2 months)
  • Self-attested Latest Bank Statement or Mobile Bill or Gas (Not older than 2 months)
  • Address proof of the proposed Registered Office (electricity bill or Landline or Gas Bill and It can be a residential property) and rental agreement
  • No Objection (NOC) from the person who owns the property mentioned above (we will prepare)
  • 2 passport size photos of proposed Designated Partners LLP Incorporation

Process to be followed for Limited Liability Partnership Registration

The following steps are to be followed during the LLP registration process:

  • Appoint partners and designated partners
  • Obtaining Digital Signature Certificate (DSC)
  • Name Application process
  • Prepare all legal documents
  • Filing of documents electronically
  • File Incorporation with ROC
  • Apply for DPIN
  • Once the incorporation is received, Draft the LLP agreement
  • Filing of LLP Agreement with ROC.
  • Need to apply for PAN & TAN (Manually / online)

Time required for LLP registration in Bangalore

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.

Have Any Question ? We Can Help You..

Email us at - info@adca.in