LLP Company Registration Services in Bangalore - Kros Chek

LLP or Limited Liability Partnership is a business structure that combines the benefits of a partnership with the limited liability protection of a corporation. It is a popular choice among small and medium-sized businesses, as it offers the flexibility of a partnership while providing protection for the partners' personal assets.Here is a step-by-step guide on how to register an LLP company:

Choose a unique name: The first step in registering an LLP is to choose a unique name for the company. The name must not be identical or similar to an existing company and must be approved by the Registrar of Companies (ROC).

Obtain the Digital Signature Certificates (DSC) and Director Identification Number (DIN): Both DSC and DIN are mandatory for the partners of the LLP. DSC is an electronic certification that verifies the identity of the partner and DIN is a unique identification number that is issued to all the directors of the LLP, says Kros Chek LLP company registration services in Bangalore.

File the LLP Agreement: The LLP Agreement is the document that outlines the rights and responsibilities of the partners and sets out the terms of the LLP. The LLP Agreement must be filed with the ROC within 30 days of the LLP's incorporation.

File the Incorporation Form: The next step is to file the Incorporation Form (Form 2) with the ROC, along with the LLP Agreement, DSC, and DIN of the partners. The form requires basic details such as the name of the LLP, its registered office address and the names and addresses of the partners.

Obtain PAN and TAN: Once the LLP is registered, it will be issued with a Permanent Account Number (PAN) and a Tax Deduction and Collection Account Number (TAN) by the Income Tax Department. These are mandatory for all companies, including LLPs, says Kros Chek, llp company registration in bangalore.

Obtain other licenses and permits: Depending on the nature of your business, you may need to obtain additional licenses and permits from various government departments. For example, if you are planning to open a restaurant, you will need to obtain a food license from the local health department, says Kros Chek LLP Registration In Bangalore.

Register for GST: If your turnover exceeds the threshold limit of 20 Lakhs, you are mandatorily required to register for GST. GST registration is done through the GSTN portal, and you will be issued a GSTIN (GST Identification Number) once the registration is completed.

Open a bank account: The last step is to open a bank account in the name of the LLP. This will be used to deposit and withdraw funds, and will be used to issue cheques.

In conclusion, registering an LLP company is a relatively straightforward process that involves several steps. It is important to choose a unique name, obtain the Digital Signature Certificates and Director Identification Number, file the LLP Agreement and Incorporation Form, Obtain PAN and TAN, Obtain other licenses and permits, Register for GST and open a bank account. It is advisable to consult a professional for guidance, as the process can be time-consuming and requires a good understanding of the legal requirements. Once the registration is completed, the LLP is considered as a separate legal entity and the partners have limited liability for the company's debts.