Ideal business structure for Small and Medium sized Enterprises going for Partnership
Earlier there were only two forms of Organisation:
LLP Registration in Bengaluru – LLP is a partnership registered and governed under the Limited Liability Partnership Act, 2008. It is a body corporate which combines the features of a Company and a traditional partnership firm.
LLP is a legal entity where all the partners have limited and disjoint liability. LLP’s existence is not affected due to change in partners. It can hold contracts and enter into property in its own name.Learn more
You need to fill our simple LLP online questionnaire and submit LLP documents.
After submitting your documents we will provide you with DSC and DPIN
Details provided by you will be verified & then we shall apply for LLP name approval.
We will create all the required documents (MOA & AOA) and file them with ROC for your LLP.
Once your LLP is incorporated, we shall send you LLP certificate and DSCs
“Bangalore, the Silicon Valley of India is booming with unprecedented growth”
Popularly known as the Silicon Valley and the destination to 5 of the 8 unicorns of India’s. Bengaluru is the best destination at the present for all the start-ups.
Today the IT sector of India is worthing approx. $ 146 billion. All the credits for this to Bengaluru, because Bengaluru is the destination to the IT giants like Wipro, Infosys, and whatnot.
Bangalore is the IT Hub and also the center of startups, every day a new idea comes for business with the dedication and passion to make it big. So the investors are also showing their interests in those startups’ ideas to provide them the funds.
All the top talent believe that Bengaluru is the place to fulfill the dreams. Services. Entrepreneurship in Bengaluru is the most attractive one because of the infrastructure. Also, the eco-system that has the talent, investors, research and development, huge competition, and of course, the excellent weather condition.
While Unlimited Liability Entities such as partnerships were easy to register but they suffered the disadvantage of unlimited liability. Thus there was a need for a single entity that could combine the advantages offered by both these forms of organizations.
LLP registration is easier with post registration compliances less in comparison to a body corporate and unlike partnership where liability is unlimited LLPs limit the liability of partners to the extent of their capital contribution. Also LLP is more preferred by VCs if one wants to go for funding.
Any individual planning to become the partner of an LLP, has to submit an application for DIN. According to the notification of MCA regarding LLP rule, 2009, any partner who will be appointed as the designated partner of a company will have to apply for DIN instead of DPIN. The application for this is filled using an e-form which has a nominal cost of R. 100.
A partner who is going to be registered as the designated partner needs to get class 2 and class 3 DSC. Register on the MCA website, fill up the registration form and upload the DSC. After successful registration, you will get an acknowledgment message
A free name search facility is available on the MCA portal. The system will provide the list of similar/closely resembling names of existing companies/LLPs based on the search criteria filled up. Download and fill Form-1 for reservation of name and fill in the details. Select the name of the proposed. State the significance of the keyword.
Mention the number of their partners along with details. Enter the monetary value of the partner’s share. Select the office of the registrar to file the application. Pay the prescribed fees. On submission of the complete application, you will get the certificate of incorporation.
It is not mandatory to file an LLP agreement at the time of registration and it takes 30 days. Designated partners are responsible for doing all acts, matters, and things that are required to be done for complying with the provisions of the LLP act. They are liable to all penalties imposed on the LLP. So it is very important to draft an LLP agreement with professional help.
The LLP agreement needs to be uploaded. Once it gets approved all the formalities for registration gets completed.
Since, LLP is a hybrid of a company and a partnership it has combination of plus points of both a company and a partnership. Some of those points are listed below as to why you should go for LLP Registration in Bengaluru: