Limited Liability Partnership (LLP) Registration
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Limited Liability Partnership (LLP) Registration
Are you looking for a company registration format with nearly no capital requirement, minimum members and easy running and maintenance free? LLP is perfect answer to this question. Limited Liability Partnership is increasingly popular as it offers two main benefits, 1. Limited Liability 2. Flexibility of a partnership firm. This type of company registration is highly used by professional firms like CA, Doctors, Lawyers, Architects, Consulting Businesses etc. LLP is easier to incorporate and maintain as compared to private limited company or public limited company structure. To enhance organized businesses in our nation, government initiated new quicker process of LLP incorporation from 2nd October, 2018 originally introduced in 2008. So what are you waiting for? Contact Envizi now and let us form your LLP.
What do you understand by the term Limited Liability Partnership (LLP) Registration?
A simple form of business registration in which minimum 2 partners are needed and is registered under the Limited Liability Partnership Act, 2008 with Ministry of Corporate Affairs (MCA) is known as Limited Liability Partnership (LLP).
Basic Requirements to Start as LLP:
- Unique Name:- Your company name must be unique and not similar or matching with the existing names or trademarks. Also your company name must use “LLP’ at the end.
- Capital Requirement:-To register as Limited Liability Partnership, zero capital is required meaning that without any capital you can start your dream business.
- Minimum No. of Persons:- To register as LLP, minimum 2 partners are must.
- PAN card of Directors
- Address Proof of Directors (Passbook, Utility Bills etc.)
- Identity Proof of Directors (For example voting card, Licence, Passport)
- One Color Photograph of Directors
- Office Address Proof
- Minimum Two Shareholders
- Minimum Two Directors
- The directors and shareholders can be the same person
- DIN (Director Identification Number) for all the Directors
- DSC (Digital Signature Certificate) for all Directors.
What You Get
- Director Identification No (DIN)
- Digital Signature (DSC)
- Name Approval Certificate
- Memorandum of Association (MOA)
- Articles of Association (AOA)
- Certificate of Incorporation
- Company PAN
- Current Bank Account Opening Assistance
- GST Registration
Steps for Limited Liability Partnership (LLP) Registration in Bangalore
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Advantages of LLP
Many startups borrow money to fulfill their operational and business needs, but what if they failed to repay the borrowed money? Will it affect partner’s personal assets or property? No. If your business is registered as LLP, it gives protection to personal assets of partner. Partners can suffer a loss of only up to their personal investment to start a business
Rights and responsibilities of the partners are clearly defined at the time of its incorporation and thus operating and maintaining LLP business is very easy. Thus one partner is not held responsible for the misconduct or negligence of any other partner.
LLP is most popular and considered as a most easy and reliable business structure as compared to others. LLP being registered under MCA and its organized structure helps to attract multinationals, corporate customers, govt. agencies and reputed vendors towards doing business with LLPs as compared to partnership firms.
Until your business cross certain level of turnover or contribution, annual audit is not mandatory. If your investment to start a business is above Rs. 25 lacs or your company’s annual turnover is above Rs. 40 lacs then audit is must as per rules set by MCA. Also there are only 2 major annual legal compliance to be done in LLP those are Form no 8 and Form no 11 filing.
It is very easy to transfer the rights and authorities of one partner to new / another partner.
No one can claim their rights on the property of LLP as LLP itself is sole owner of the property.
As LLP is a separate entity, its operations or continuation will not get affected by death or non existence of any partner.
Many investors prefer private limited company as their reliable investment channel thus it is very easy for private limited companies to attract those investors to fulfill their funding needs.
Private limited company pays salary to its employees and dividends to its shareholders. Shareholder experience a great benefit from private limited company as less tax is deducted when dividend is paid to them.
No one can claim their rights on the property of private limited company as private limited company is sole owner of the property.
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Why Choose Us
Over the years Envizi has helped many entrepreneurs to start their dream ventures and businesses using our quick, reliable and affordable registration services. We are the most trusted name for LLP Registration in Bangalore as we know how to make it hassle-free and convenient for you to start your most awaited business or LLP. Our team of experts has great knowledge and proven experience of company registration startup processes and is backed by our unique registration solutions. Our prompt customer service, transparency and professionalism in every aspect of our business has made us very popular as the best LLP Registration Consultants in Bangalore. Contact us now and get your LLP registered by best registration service providers.