Limited Liability Partnership Registration In Bangalore
LLP is Limited Liability Partnership. LLP registration in Bangalore is done on an affordable cost. Our prestigious firm has now extended its wings in various places of the city like Hosur, Kengeri, Belagavi, Anegal, Basavanagudi and Madiwala. LLP acts like body corporate and separate legal entity. It has the perpetual succession. The duties and the rights of the partners can be governed by the agreement between the partners. LLP has to maintain the annual accounts and it reflects the current state of affairs. The statement of accounts and solvency shall occur every year. The affairs of the LLP can be examined by the Central Government and also the Central government has power to appoint an inspector for the purpose. An LLP has at least two partners and at least one of them should be the Indian resident.
LLP registration in Bangalore is done so as to raise the credibility. If there is any change in the partners it will not affect the existence of their rights and liabilities. The partnership act does not apply to the LLP. LLP is the combination of both company and partnership and it enables the professional expertise. LLP is the most desirable business structure for any of the entrepreneurs since LLP is flexible in both structure and operation as well. Any private company or unlisted public firm can be converted into LLP. On such conversion from the date of registration the rights, privileges and the liabilities and so on shall be vested into the LLP. The winding up of the LLP can be voluntary or by the tribunal. Since LLP is a body corporate with distinct legal entity it can accept the loan from banks or the other financial institutions. To be clear the LLP can accept foreign direct Investment. Hence such LLP is required to have LLP registration in Bangalore so that it will gain prominent status.
Documents Required For LLP Registration
- Latest passport sized photographs
- Identity proofs of each partner like voter Id, Aadhar card
- PAN of all the partners
- Address proof of the partners like telephone bill, electricity bill
- If the place is on rent then rent agreement or NOC from the landlord is needed.
- Bank statement
Benefits Of LLP Registration
- 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.
- LLP has flexibility.