LLP Registration in Bangalore

LLP Registration in Bangalore

Bangalore is known as the Silicon Valley of India, and what’s better than incorporating an LLP there? The Limited Liability Partnership (LLP) has gained a lot of popularity among entrepreneurs and small business owners in India these days due to its unique nature, which combines the flexibility of a company and a partnership firm. It provides safety to the partners as their liability is limited to the extent of their contribution to the firm. Every LLP in India is regulated by the Limited Liability Partnership Act, 2008. As Bangalore is a growing hub for startups and small businesses, LLP has become a popular choice. The process for registering an LLP in Bangalore is easy, and it can be completed online with proper documentation and guidance.

What is an LLP?

LLP is a hybrid type of business structure that combines the elements of a partnership and a private limited company. It offers its partners the advantage of limited liability protection against liability, at the same time allowing them the flexibility of managing their business as per their agreed terms on the LLP agreement. Unlike regular traditional partnerships, where partners are personally liable for business, liability and other debts of the firm, an LLP ensures that personal assets of the partners remain protected.

Features of LLP

• It is a separate legal entity that contains an individual identity.
• Limited liability of its partners.
• There is no requirement for a minimum capital contribution in the business.
• Fewer requirements of compliance as compared to a private limited company and other registered companies.
• It does not lose its identity upon the death or the inability of the partners to act as partners.

Eligibility Criteria for LLP Registration in Bangalore

• A minimum of two partners is required to form an LLP. There is no maximum limit.
• One of the partners must be an Indian resident.
• One of the Designated Partners must be an Indian resident
• At least one of the designated partners must have a DSC and shall obtain DIN after incorporation.
• The proposed LLP name should be unique and not similar to any existing company or LLP registered under the Ministry of Corporate Affairs (MCA).
• The LLP must have a registered office address in Bangalore.

Benefits of LLP Registration in Bangalore

1. Limited Liability Protection: Liability of partners is very much limited to their agreed contribution as per the LLP Agreement. LLP provides protection for the value and assets of the partners.
2. Separate Legal Entity: The LLP is distinct from its partners, which enables it to own separate property, enter into contracts, and sue or be sued in its own name.
3. Low Compliance Costs: LLPs have minimal compliance requirements as compared to private limited companies.
4. Tax Benefits: LLPs enjoy tax advantages such as exemption from taxes like dividend distribution tax and lower tax rates under the Income Tax Act, 1961, as compared to companies.
5. No Minimum Capital Requirement: LLPs are not like private limited companies; therefore, they do not require any minimum capital contribution, making them ideal for startups and small businesses.
6. Ease of Transferability: The ownership transfer is simpler and smoother than in traditional partnerships, which makes the ownership transfer process simple and smooth.
7. Perpetual Existence: LLP remains in existence even though the partners leave or change. The LLP is not affected by such variations or changes in the firm.

Documents Required for LLP Registration in Bangalore

For Partners and the Designated Partners

• PAN Card
• Aadhaar Card or any government-issued ID proof
• Address proof, including Utility bills, bank statement, or rental agreement of all partners and the Designated Partners
• Recent passport-sized photographs
• A Digital Signature Certificate is required for at least one designated partner.

For LLP Registration

• Proposed LLP name approval from the MCA.
• LLP Agreement specifying the roles and responsibilities of partners and the Designated partners.
• Provide proof of the registered office address of the LLP. You can attach the rent agreement/ property ownership document/ lease agreement, or even utility bills.
• A no-objection certificate from the property owner if the office is rented.

Online Process of LLP Registration in Bangalore

1. Obtain a Digital Signature Certificate (DSC) for the Designated partners.
2. File the application for name approval at the MCA portal. The approved name shall be reserved for 3 months from the date of approval.
3. Fill and prepare the Form “FiLLiP” for LLP incorporation and submit to the Registrar of Companies along with the documents
4. The RoC will verify the details and documents, and if everything is in order, you will receive your Certificate of Incorporation.
5. Once your LLP is incorporated, draft and execute the LLP agreement and file it within 30 days of its incorporation in Form 3.
6. Once your LLP is incorporated, apply for PAN and TAN for your LLP.

Annual Compliances for LLP in Bangalore

• Annual Return – Form 11 is filed with the RoC by 30th May of each financial year.
• Statement of Accounts – Form 8 is filed with the RoC by 30th October of each financial year. An audit of yearly records is required if the capital contribution of an LLP exceeds ₹25 lakh or the sales exceed ₹40 lakh.
• Any change in the LLP shall be informed to the ROC by amending the LLP agreement and filing it in Form 3 with the RoC.
• Income Tax Return: LLPs must file their income tax return before the due date specified as prescribed by the Income Tax Department in every financial year.

Why Choose Kanakkupillai for LLP Registration in Bangalore?

Navigating the complexities of LLP registration can be challenging, but with Kanakkupillai by your side, the process becomes effortless and efficient. That is why entrepreneurs across India choose us. Kanakkupillai is a leading compliance service provider in Bangalore. Here’s why you should choose Kanakkupillai for your LLP registration:

• Expert Guidance – Kanakkupillai has a team of professionals specializing in corporate registrations and compliance. From selecting the right business structure to drafting the LLP Agreement, every step is handled with expertise.
• End-to-End Support – The process, from name approval to obtaining the Certificate of Incorporation, is managed seamlessly. The team ensures all statutory forms like FiLLiP and Form 3 are filed correctly.
• Affordable Packages – Services are priced transparently with no hidden charges, making them cost-effective for startups and small businesses.
• Dedicated Relationship Manager – Clients receive personalized assistance at each stage of registration for better communication and guidance.
• Tax and Legal Advisory – Post-registration, our team also provides support in GST registration, PAN/TAN application, and annual filings, ensuring full compliance with the law.
• Technology-Driven Process – Kanakkupillai uses an online system that simplifies documentation and tracking, saving effort and resources for the partners.