LLP Registration in Bangalore

What is LLP Registration?

LLP (Limited Liability Partnership) registration is the process of legally establishing a business entity in the form of a partnership. In LLP registration in Bangalore, each partner's liability is limited to the amount they have invested in the business. This structure combines the flexibility of a partnership with the limited liability protection typically found in a corporation.

In an LLP, the personal assets of the partners are protected from business debts or legal liabilities, which means that partners are not personally responsible for the actions of the business beyond their capital contribution.

Some key features of LLP include:

• Limited Liability Protection
• Legal Recognition
• Operational Flexibility
• No Minimum Capital Requirement

Benefits of Registering an LLP in Bangalore

Limited Liability Partnership (LLP) company registration in Bangalore has numerous benefits, especially given the city's status as one of India’s most prominent business hubs. From legal protection to business growth opportunities, here are some key advantages of LLP incorporation in Bangalore:

1. Limited Liability Protection

   One major advantage of an LLP is that the personal assets of partners are protected from the business's debts and liabilities.
   

2. Operational Flexibility

   LLPs offer more operational flexibility than private limited companies. Partners can decide how they manage the LLP, structure their roles, and divide profits.
   

3. No Minimum Capital Requirement

   LLP registration online in Bangalore does not require a minimum capital contribution. Partners can decide their capital contribution based on the nature of the business and its financial requirements.
   

4. Separate Legal Entity

   An LLP is recognised as a separate legal entity, which means it can enter into contracts, own property, and conduct business independently of its partners.
   

5. Ease of Compliance

   LLPs face fewer compliance burdens than private limited companies, reducing the time and cost of maintaining the business.
   

6. Low Cost of Formation and Maintenance

   Forming and maintaining an LLP is cost-effective. With fewer regulatory requirements than a private limited company, LLPs enjoy reduced compliance costs, making it an attractive option for startups and small businesses that want to keep overheads low.
   

Eligibility for Registering an LLP in Bangalore

For Limited Liability Partnership (LLP) company registration in Bangalore, specific eligibility criteria must be met. Here’s a breakdown of LLP eligibility criteria:

1. An LLP incorporation requires a minimum of two partners.
   

2. Partners can be individuals or corporate bodies (i.e., companies or LLPs).
   

3. At least one of the partners must be an Indian resident from the Designated Partners.
   

4. Partners must be at least 18 years old and legally competent (i.e., they must not be of unsound mind or bankrupt).
   

Due to their limited liability structure and operational flexibility, LLPs are ideal for professional services firms such as lawyers, accountants, architects, and consultants.

Documents Required for LLP Registration in Bangalore

Specific documents are required during the LLP registration in Bangalore to ensure compliance with regulatory norms. Below is a detailed explanation of the necessary LLP registration documents:

LLP Registration Process in Bangalore

A Limited Liability Partnership (LLP) registration process in Bangalore involves several key steps that ensure compliance with legal requirements. Here’s a detailed guide to navigating the LLP incorporation procedure:

• Step 1: Obtain a Digital Signature Certificate (DSC)

  Before you can register an LLP, the designated partners must obtain a Digital Signature Certificate (DSC) with either one-year or two-year validity. This is necessary for signing the electronic documents that will be submitted to the Registrar of Companies (ROC).
  

• Step 2: Name Reservation through LLP-RUN

  Select a suitable name for your LLP that adheres to the naming guidelines set by the MCA. The name should be unique and not similar to any existing LLP or company.
  

  Submit the LLP- Reserve Unique Name (RUN) form to the MCA for approval. You can propose up to two names.
  

• Step 3: Draft LLP Agreement

  Prepare the LLP Agreement, which outlines the rights and duties of the partners, profit-sharing ratio, and other operational aspects of the LLP. This document is crucial for the internal governance of the partnership.
  

• Step 4: Incorporation of LLP through FiLLiP

  Fill out the FiLLiP (Form for Incorporation of Limited Liability Partnership) and submit it to the Registrar of the LLP's registered office.
  

  As a part of additional documentation, submit the Subscriber sheet and consent of a Director (Form DIR-9) alongside FiLLiP.
  

• Step 5: Obtain a Certificate of Incorporation

  Once the ROC verifies the submitted documents and application, you will receive a Certificate of Incorporation. This document serves as proof that your LLP is officially registered.
  

• Step 6: Submit LLP Agreement

  File the LLP Agreement using Form 3 on the MCA portal within 30 days of being registered.
  

• Step 7: Open a Bank Account

With the PAN and TAN in hand, you can open a bank account in the name of the LLP. This is essential for managing the finances.

Selection of a Company Name in Bangalore & Trademark Process

Before initiating registration, it is advisable to conduct a thorough company registration name check to ensure adherence to MCA guidelines. This helps in avoiding potential conflicts and legal issues in the future.

Try our free search tool to instantly find and verify company name availability. Our user-friendly tool also allows you to search trademarks, domain names, and social media handles linked to your business name with a single click, using accurate data sourced from the Trademark and MCA databases.

Searching for a company name?

Check company name availability using our powerful name search tool.

After searching for company registration name availability, the next step involves trademark registration, a critical aspect of building a strong foundation for your business. Trademark registration grants you exclusive rights to use your chosen name or logo, establishing a unique identity and preventing others from using similar marks.

The trademark registration process includes several steps. First, you must choose a distinctive trademark that sets your brand apart. Then, categorise it under the relevant classes that represent the nature of your business. Afterwards, submit a detailed application to the Trademark Registry with the required documentation.

GST Requirements for LLP Registration in Bangalore

GST, or Goods and Services Tax, is a value-added tax imposed on the consumption of goods and services in India.

​​Mandatory GST Registration of the company is required when the business turnover exceeds ₹40 Lakhs (for goods) and ₹20 Lakhs (for services). Certain businesses, such as all e-commerce operators, must register under GST, regardless of turnover.

To initiate the GST registration for an LLP:

• Access the GST Portal.
• Select "Register Now."
• Provide details in the "Part A" form.
• Complete "Part B," entering business information and uploading relevant documents required for GST like PAN, Aadhar, business registration papers, bank statements and photographs of proprietors/partners/directors.
• Once submitted, the application undergoes verification.
• Upon approval, you receive a GST registration certificate.

The GST Certificate incorporates a GSTIN, a 15-digit state-wise identifier for businesses. The first 2 digits of the GSTIN represent the GST code of the state/territory, which for Bangalore (Karnataka) is 29.

Example of GSTIN for Bangalore: 29AAQFB1222C1ZU

After registration, following the rules and guidelines outlined by the government within the GST framework is imperative to prevent incurring penalty charges.

Issuing GST-compliant invoices, filing regular GST returns and claiming Input Tax Credit (ITC) are essential practices for businesses operating under the Goods and Services Tax regime. GST-compliant invoices are not only a legal requirement but also foster transparency, facilitate ITC claims and help avoid disputes with customers and suppliers. 

Timely filing of GST returns is crucial for maintaining compliance, avoiding penalties and ensuring accurate reporting of financial transactions, which is vital for effective cash flow management.

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LLP Forms

New Limited Liability Partnership (LLP) registration in India, various forms must be submitted to the Registrar of Companies (ROC) as part of the registration process. Here’s a list of LLP registration documents:

1. Form RUN (Reserve Unique Name)

   • Purpose: This form is to reserve the name of the LLP. You can propose up to two names for approval.
     

   • When to file: After obtaining DIN and before filing the incorporation documents.
     

2. FiLLiP (Incorporation Document)

   • Purpose: This form is used to incorporate the LLP.
     

   • When to file: After the name is reserved and the LLP agreement is drafted.
     

3. Form 3 (LLP Agreement)

   • Purpose: This form is used to file the LLP agreement with the ROC. It outlines the rights and duties of partners.
     

   • When to file: This should be filed within 30 days of the incorporation of the LLP.
     

4. Form 8 (Statement of Account and Solvency)

   • Purpose: This form is used to file the annual return of the LLP, which includes details about the financial position and solvency.
     

   • When to file: This should be filed within 30 days of the end of the financial year.
     

5. Form 11 (Annual Return)

   • Purpose: This form is used to file the annual return of the LLP, providing details about the partners and their contributions.
     

   • When to file: This should be filed within 60 days from the end of the financial year.
     

It's important to ensure that all forms are filled accurately and submitted within the stipulated time frames to avoid penalties and ensure legal compliance.

Company Registration Authorities in Bangalore

The company registration in Bangalore is administered by diverse authorities tasked with regulating and facilitating business incorporation and governance.

These entities play a pivotal role in overseeing the procedures and compliance requirements necessary for the seamless establishment and functioning of businesses within the region.

1. Ministry of Corporate Affairs (MCA)

   MCA is the central regulatory authority governing corporate affairs in India. It formulates and implements policies related to company registration and regulation.
   

   The official website of MCA operates the MCA21 portal, which serves as an online platform for accessing various reports, registering for services and conducting transactions related to corporate affairs. The portal provides information about services and initiatives introduced by the MCA, including updates on legal reforms, corporate governance practices and regulatory changes.
   

2. Ministry of Micro, Small and Medium Enterprises(MSME)

   Micro, Small and Medium Enterprises (MSMEs) and Small Scale Industries (SSI) play a crucial role in developing a nation like India. Recognising their significance, both state and central governments have devised schemes under the Ministry of MSME to offer maximum benefits to enterprises falling under this category.
   

   While obtaining an MSME registration certificate is not a legal requirement for businesses, leveraging the advantages of the Udyam Scheme can unlock numerous benefits from government sectors. These advantages include lower interest rates, excise exemption schemes, tax and investment subsidies, exemptions under Direct Tax Laws and more.

3. Registrar of Companies (RoC)

   The Registrar of Companies (RoC), operating under the MCA, is a regulatory authority with key functions, including approving the registration of new companies and LLPs in India. 
   

   Beyond initial registrations, the RoC remains actively involved in post-incorporation compliances, ensuring that companies adhere to the stipulated legal and regulatory requirements throughout their operational life cycles. 
   

   It ensures that incorporated entities comply with legal procedures, including matters such as the appointment and resignation of directors, auditors, and company secretaries, the filing of annual returns and financial statements, and post-incorporation compliance.
   

   The current details of RoC (as of October 2024) for Bangalore are:
   

   • ROC Bangalore
     Email- roc.bangalore@mca.gov.in 
     E' Wing, 2^nd Floor, Kendriya Sadana, Koramangala,
     Bangalore-560034, Karnataka
     

4. Registrar of Firms (RoF)

   The Registrar of Firms (RoF) is the designated authority tasked with supervising the registration and administration of Partnership Firms. 
   

   Under the governance of the Indian Partnership Act, the RoF assumes a crucial role in overseeing the registration procedures and keeping the records of partnerships that have undergone the registration process.
   

   The Department of Stamps & Registration, Government of Karnataka, offers a convenient online platform through KAVERI, allowing citizens to enter details and schedule appointments for partnership firm registrations. 
   

   To register on this portal, click on the 'Register as New User' option on the homepage, furnish all pertinent firm details, secure a time slot, and receive an acknowledgement slip. 
   

   Visit any of the registrar's offices with the original documents, the requisite fee and the acknowledgement slip. Upon successful verification and approval, your partnership firm will be officially registered.
   

5. Government of Karnataka

   The state Government of Karnataka actively collaborates with various regulatory bodies to shape and execute industrial policies that significantly influence the registration and expansion of businesses.
   

   In Bangalore (Bangalore), India, the local government authorities primarily involved in the company registration and licencing processes include:
   

   • The Bruhat Bangalore Mahanagara Palike (BBMP) in Bangalore is the municipal corporation responsible for issuing trade licences. These licences are essential for businesses, including sole proprietorships, partnerships and companies, listed under Schedule X of the Karnataka Municipal Corporation (KMC) Act 1976. 
     

   • The Bangalore Development Authority has undertaken a mission to promote Ease of Doing Business (EoDB) and reduce the Regulatory Compliance Burden for its citizens and investors. Department registrations/approvals are provided online through the Single Window portal—biz Karnataka under the Karnataka Udyog Mitra. 
     

   • The Commercial Taxes Department, part of the Karnataka Government Secretariat's Finance Department, has introduced a Citizens Charter to enhance service delivery. Aligned with the department's Vision, Mission, and Objectives, the Charter establishes standards for service delivery, contributing to the excellence in implementing tax policies. 

     It is responsible for administering acts like the Karnataka Goods and Services Tax (KGST), The Central Goods and Services Tax (CGST), The Integrated Goods and Services Tax (IGST) and Professional Tax. 

   • Shop and commercial establishment owners in Karnataka are supposed to register with the Department of Labour using the e-Karmika website to operate legally under the Karnataka Shops and Commercial Establishments Act 1961.

6. Income Tax Department

   The Income Tax Department oversees income tax-related matters, including assessments, collections and other tax-related activities like issuing Permanent Account Numbers (PAN) and ensuring adherence to income tax regulations within the specified geographical area.
   

   The states of Karnataka and Goa fall under the jurisdiction of the Principal Chief Commissioner of Income Tax, Karnataka & Goa Region. The region is further divided into five Chief Commissioners of Income Tax and one Director General of Income Tax (Inv.). The Principal Chief Commissioner, situated in Bangalore, oversees the overall functioning of the Income Tax Department in Karnataka and Goa.
   

   In certain industries, such as insurance, financial services, broadcasting, and defence-related services, businesses typically need additional approvals and clearances from pertinent regulatory bodies such as the Reserve Bank of India (RBI), Insurance Regulatory and Development Authority of India (IRDAI), Securities and Exchange Board of India (SEBI), Ministry of Defence, etc., to ensure lawful and secure operations.
   

Types of Companies You Can Register in Bangalore

In Bangalore, you can register companies based on your business needs and structural preferences.

Here are some prevalent types of companies to register:

1. Private Limited Company

   Privately owned and governed by the Companies Act, the Private Limited Company is a favoured choice for startups.

   

   Register your Private Limited Company in just ₹1,499 + Govt. Fee

   Register your business

2. Limited Liability Partnership (LLP)

   Governed by the Limited Liability Act 2008, an LLP provides limited liability and is popular among professionals.

   

   Register your Limited Liability Partnership in just ₹1,499 + Govt. Fee

   Register your business

3. One Person Company (OPC)

   By combining the features of a Private Limited Company with the benefits of Sole Proprietorship, OPC offers a single individual a separate legal entity.

   

   Register your One Person Company in just ₹1,499 + Govt. Fee

   Register your business

4. Public Limited Company

   Regulated with limited liability, a Public Limited Company offers shares to the public, ideal for large-scale corporations.

5. Sole Proprietorship

   Suited for small businesses, Sole Proprietorship features a single owner who is personally liable and has minimal compliance requirements.

6. Partnership Firm

   Under the Indian Partnership Act, a Partnership involves multiple individuals sharing responsibilities, profits and liabilities.

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Checklist for the LLP Registration in Bangalore

Here’s a comprehensive LLP registration checklist to ensure a smooth and hassle-free incorporation process:

• Decide on at least two designated partners

• Obtain DSC for all designated partners

• Choose a Name for the LLP

• File Form RUN for name reservation.

• Draft the LLP agreement

• File Incorporation Form- FiLLiP

• Get a Certificate of Incorporation (COI)

• Open a bank account in the name of the LLP

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