LLP Registration In Bangalore

Published On: Dec 28, 2022Last Updated: Jan 4, 20234.7 min read

Bangalore or Bangaluru is the capital city of Karnataka and the IT hub of India. Growing manifold in the last decade, Bangalore has been aptly titled the ‘Silicon Valley of India’. Currently, India has over 77,000 startups with over 75,000 of them being incorporated in Bangalore! Hence, if you’re thinking about registering an LLP (Limited liability Partnership) for your business, Bangalore could be the perfect location. 

An LLP is a hybrid business structure that merges the benefits of a Partnership Firm and a Company. Limited liability Partnership registration is mandatory for incorporating a new LLP. All LLPs need to be registered with the MCA (Ministry of Corporate Affairs) and are governed by the Limited Liability Partnership Act of 2008.

Why you should go for LLP registration

Every Limited liability Partnership has the following advantages:

  • Firstly, LLPs are separate legal entities from their Partners
  • Secondly, all LLP’s enjoy perpetual succession
  • Thirdly, registering an LLP is quite inexpensive
  • Fourthly, LLP’s have very few compliance requirements
  • Additionally, LLP’s enjoy the tax benefits of partnership firms
  • And finally, they let their partners enjoy limited liability like  companies

Registering a new LLP in Bangalore can be easily done online. Taking the help of Legal service experts like Legalwiz can make the registration process hassle-free.

Why choose Bangalore

Worth about USD 146 billion, Bangalore is the epicentre of startups in India. Not only has it seen unprecedented economic growth over the last decade, but it is also the home to most of the unicorns in India. Moreover, Bangalore is where startup culture took birth in India. As a result, it is a city full of venture capitalists and angel investors looking to invest in new businesses.

Basic Requirements for new LLP Registration in Bangalore

  • Firstly, every Limited liability Partnership required a minimum of 2 partners for incorporation.
  • At least one of the Partners needs to be Indian and residing in India.
  • Limited liability Partnerships have no minimum capital requirement. However, every partner must contribute something to the LLP, be it monetary or non-monetary.
  • Partners also have to apply for DIN (Director identification number) or DPIN (designated partnership identification number).

Important Documents for new LLP Registration in Bangalore

For Limited liability Partnership registration you have to provide the  following documents:

  • Copies of the to-be partners’ PAN Cards
  • Copies of Identity proofs of the to-be partners (Aadhar Card, Passport, Driving License, etc)
  • Copies of the to-be partners’ Address Proof (Electricity bill, water bill or any other utility bill)
  • Proof of address for the Registered Office (Utility Bills)
  • If the registered office is on rent, you have to acquire a NOC (No Object Certificate) from the owner of the property
  • A copy of the Rental Agreement if the registered office is on rent
  • DSC (Digital Signature Certificate) of at least two partners

Procedure for LLP Registration online

  1. Firstly, you have to apply for a DIN or DPIN; at Least two partners need to apply for it. This is because LLP registration requires a minimum of two directors.
  2. After that, the next step is to apply for DSC; at least two Partners need to apply for this for LLP registration. 
  3. After this, you have to apply for a name reservation for a Limited Liability Partnership. You can do this by using the RUN service which is available on the MCA (Ministry of Corporate Affairs) website. 
  4. After all of that, you can apply for Limited Liability Partnership incorporation via the e-form FiLLiP available on the MCA website. In this, you need to state the details of your partners, and the registrar’s office. After the whole process is done, you receive your incorporation certificate.  
  5. Finally, you need to draft and submit your Limited liability Partnership agreement within 30 days of incorporation.

Cost of LLP registration

Business Package Starting from INR 8,699

  • All expenses & Government fee
  • 2 Class III Digital Signatures (DSC )
  • Name Application under RUN LLP
  • Certificate of Incorporation
  • PAN Number & TAN Number
  • LLP Identification Number
  • 2 Director Identification Numbers (DIN)
  • DSC & DIN for additional partners at extra cost
  • LLP Deed Drafting along with franking

Executive Package Starting from INR 10,999

  • All inclusions of the Business Package
  • One additional Name Application under RUN LLP
  • GST Registration Application
  • MSME Registration
  • Draft of Bank Account Opening Resolution
  • Draft of Employment contract & NDA
  • Draft of Employment & Appointment Letter
  • Draft of Website Policy
  • Draft of Disclaimer Policy

Premium Package Starting from INR 29,999

  • All Inclusions from the Executive Package
  • All expenses and Government fee
  • DSC & DIN additional partners at extra cost
  • Accounting up to 250 entries in the entire FY
  • Annual Compliance filing with MCA for a year
  • All ITR filing for the first year
  • GST return (up to 100 invoices per month) for 12 months
  • DIR-3 KYC for 2 DIN holders

Frequently Asked Questions

A Designated partner is a partner who has been designated by the other partners to primarily take decisions for the LLP. They are like directors of the LLP. They handle all the decisions related to day to day functioning of the firm.

Registering a Limited liability Partnership has many advantages. Some of them are:

  • It’s easy to register and manage
  • Low cost of compliance
  • Has limited liability
  • No compulsory audit required
  • No minimum capital requirement 

To convert your existing partnership firm you need to fill forms 17 and 2 for LLPs. Both of these forms are available on the MCA website. On approval of the forms by the MCA, your partnership firm will have been converted into an LLP

Every LLP’s name has to end with the words ‘Limited Liability Partnership’ or with ‘LLP’. No LLP‘s name without the above-mentioned words at the end is valid.

Related Articles

Related Services

Share This Post:

Monjima Ghosh
About the Author

Monjima Ghosh

Monjima is a lawyer and a professional content writer at LegalWiz.in. She has a keen interest in Legal technology & Legal design, and believes that content makes the world go round.

Leave A Comment