Limited Liability Partnership Firms
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 formation 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).
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 formation 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).
Minimum Criteria for an LLP Registration Services in Bangalore
- Minimum 2 Partners
- LLP can start its business immediately after the issue of Certificate of Incorporation.
- Registered 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 Partner
What are the features of an LLP firm 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.
- 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.
What are the features of an LLP firm registration in Bangalore?
A Limited Liability Partnership (LLP) offers the best features of both a partnership and a company. Registering an LLP in Bangalore provides several advantages, including:
1. Limited Liability
Partners are only liable for the business’s debts to the extent of their agreed contribution. Their personal assets remain protected.
2. Separate Legal Entity
The LLP has a distinct legal identity, allowing it to own assets, enter contracts, and sue or be sued independently of its partners.
3. Ease of Formation and Compliance
LLP registration involves fewer legal formalities and compliance requirements compared to private limited companies.
4. Flexible Management
Partners have the freedom to manage the business as per their mutual agreement, outlined in the LLP agreement.
5. Tax Benefits
LLPs enjoy tax advantages such as no Dividend Distribution Tax (DDT) and tax deductions on income.
6. No Minimum Capital Requirement
LLPs can be started with any amount of capital, making them budget-friendly for startups and small businesses.
7. Perpetual Succession
The LLP continues to exist even if partners leave, retire, or change, ensuring business continuity.
With Bangalore’s thriving business ecosystem, LLP registration is an ideal choice for entrepreneurs, startups, and professionals looking for a flexible and secure business structure.
1. Limited Liability
Partners are only liable for the business’s debts to the extent of their agreed contribution. Their personal assets remain protected.
2. Separate Legal Entity
The LLP has a distinct legal identity, allowing it to own assets, enter contracts, and sue or be sued independently of its partners.
3. Ease of Formation and Compliance
LLP registration involves fewer legal formalities and compliance requirements compared to private limited companies.
4. Flexible Management
Partners have the freedom to manage the business as per their mutual agreement, outlined in the LLP agreement.
5. Tax Benefits
LLPs enjoy tax advantages such as no Dividend Distribution Tax (DDT) and tax deductions on income.
6. No Minimum Capital Requirement
LLPs can be started with any amount of capital, making them budget-friendly for startups and small businesses.
7. Perpetual Succession
The LLP continues to exist even if partners leave, retire, or change, ensuring business continuity.
With Bangalore’s thriving business ecosystem, LLP registration is an ideal choice for entrepreneurs, startups, and professionals looking for a flexible and secure business structure.
Process to be followed for Limited Liability Partnership Registration
- 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.
Documents Required for LLP registration in Bangalore
- 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)
- 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
Simplify Your LLP Registration with Habco!
At Habco, we make your LLP registration process smooth, fast, and stress-free. From document preparation to filing and legal compliance, our dedicated experts handle everything with precision and care. Trust us to guide you every step of the way, so you can focus on building your business while we take care of the rest! Your growth, our priority!
At Habco, we make your LLP registration process smooth, fast, and stress-free. From document preparation to filing and legal compliance, our dedicated experts handle everything with precision and care. Trust us to guide you every step of the way, so you can focus on building your business while we take care of the rest! Your growth, our priority!