LLP Registration in Bangalore
LLP registration in Bangalore is now simple and affordable. The LLP has separate legal entity as like companies and there are less compliances and regulations in forming the LLP. Also there is no minimum capital contribution. The number of partners to incorporate the LLP is minimum two. We Smartauditor consultants have extended our services in various places of Bangalore like HSR Layout, SG Palya, M.G Road, Shivaji nagar, Madiwala and Maruti seva nagar. Being a partner of a business, at least two should be the designated partner and one of them must be an Indian resident. Also the most important element is the LLP Agreement that gives the rights and duties of the designated partners. We have group of professionals to assist in the registration process for the clients.
The Limited Liability Partnership is registered under LLP Act 2008 and it is easy in terms of management. The statutory audit is not required. For most of the small enterprises, the LLP is an ideal form of the business structure. Beyond the existence of the partners the LLP continues to exist and the partners of the firm can get involved in the organization of the internal structure like a partnership firm. Even after the death or retirement there is possibility of continued existence. Even though if any insolvency happens, the personal asset cannot be touched. The designated partner can either be an individual and a corporate body. The decision making in LLP is quicker and easier and the management is very much efficient. Also LLP cannot be registered for the charitable purposes as LLP is a profit sharing business.
Documents required for LLP registration
- Latest passport sized photographs
- Identity proofs of each partner like Aadhar card, voter Id or passport
- PAN of all the partners
- Address proof of the partners like telephone bill, electricity bill
- If the place is on rent, then rental agreement or NOC from the landlord is needed.
- Bank statement
Benefits of LLP registration
There are many benefits on registering LLP in Bangalore.
- It has limited liability
- There is perpetual succession
- It is a separate legal entity
- Excellent management since LLP deed is involved
- Combined skills and knowledge.
- There is no requirement of the compulsory audit.
- Dividend Distribution tax is not applicable.
- The registration cost is less
- The LLP can be operated with different levels of the membership.