LLP Registration In Karnataka
LLP or Limited Liability Partnership registration in Karnataka provides the advantages of a Company and the flexibility of a Partnership firm. An LLP is a combination of both Partnerships and the Company. This type of entity was introduced to the Indian corporate world in 2009 by the Limited Liability Partnership Act, 2008. LLPs are highly suitable for small, medium-sized businesses or professionals.
What are the advantages of registering as a Limited Liability Partnership in Karnataka?
There are various reasons why people opt out for Limited Liability Partnerships in Karnataka over the Private Limited companies. The LLP registration in Karnataka is considered to be easier to set up and flexible as compared to other forms of business. Hence, entrepreneurs find it easy due to hassle-free day-to-day operations.
- Low Registration cost: The cost of LLP registration in Karnataka is comparatively lower than that of a Company. You can register an LLP at just Rs.7899.
- No requirement for minimum contribution: A Limited Liability Partnership is formed with the least possible capital, there is no minimum capital requirement in the incorporation of an LLP.
- No limits on the owners of the business: A Limited Liability Partnership in Karnataka is required to have a minimum of 2 Partners but there is no upper limit on the maximum number.
- An audit is not compulsory: In the case of Public and Private Limited Companies audit is compulsory, but in the case of the LLPs registered in Karnataka there is no such requirement and this is one of the most significant benefits of registering an LLP in Karnataka.
A Limited Liability Partnership Registered in Karnataka is supposed to get the audit done only in two cases
- When the contribution of the LLP exceeds Rs. 25 lakhs.
- When the annual turnover is more than Rs.40 lakh.
Get your LLP registered in Karnataka today. Contact our registration experts today.
Process for LLP registration in Karnataka.
For registering an LLP in Karnataka the first step begins with obtaining Digital Signatures for all the proposed Partners.
At the next stage, a request is filed with the MCA for reserving the name of the LLP.
We draft the incorporation documents and send them to the partners for signature, A scanned copy of the documents must be uploaded on the IndiaFilings platform.
Our incorporation then sends the signed copy of the documents to the MCA for approval.
The last step to register an LLP in Karnataka is when our experts draft an LLP deed which is to be signed by all the partners.
The LLP deed is verified and uploaded by our experts on the MCA portal within 30 days of incorporation.
What are the advantages of LLP registration in Karnataka?
LLP registration in Karnataka is comparatively easier as the process has fewer formalities.
The registration cost is low as compared to a company.
LLP registration in Karnataka can be done with any amount of capital
IndiaFilings is the market leader in providing LLP registration services in Karnataka. We also offer a variety of business registration services like Private Limited Company, OPCs, Nidhi Company, Section 8 Company, etc.