Conversion of Partnership firm to Limited Liability Partnership
The Perfect Business Structure For Small And Medium Sized Enterprises Going For Limited Liability Partnership.
₹ 4,499 (onwards)
Need to speak to an expert? Get Free Consultation
-
15,000+
Business Startup’s
-
4.9 / 5
Google Ratings
-
Get Free
Consultation
Conversion of Partnership firm to Limited Liability Partnership
Limited Liability Partnership has been introduced in India by way of Limited Liability Partnership Act, 2008. After introduction of LLP Act in 2008, many Partnership Firms have started to convert their Partnership Firm to LLP. The reasons of conversion are self-evident such as ability to take unlimited number of partners, separate legal entity, limited liability and ease of ownership transfer. Because of these advantages of LLP over Partnership, LLP has become very popular amongst small and medium sized businesses. The Partnership Firm which wants to convert itself to LLP must be registered under Indian Partnership Act, 1932. Unregistered Partnership Firm can’t be converted to LLP.
What Is Included In Our Package?
- DSC For 2 Partners
- LLP Agreement
- DPIN For 2 Partners
- ROC Fees
- Name Availability
- L.L.P. PAN & TAN
- DSC For 2 Partners
- DPIN For 2 Partners
- Name Availability
- LLP Agreement
- ROC Fees
- L.L.P. PAN & TAN
Procedure For Conversion
Documents Required For LLP Registration
- Self attested copy of PAN Card of each Partners
- Self attested copy of Voter’s ID/Passport/Driver’s License/ Aadhaar Card of each Partners
- Self attested copy of Bank Statement of each Partner
- Passport-sized photograph of each Partners
- Self attested copy Mobile Bill/Electricity (Business Place in which registered office)
- Softcopy of Notarized Rental Agreement / Property Ownership proof
- Softcopy of Landlord NOC (Format will be provided)
- Softcopy of Sale Deed/Property Deed (in case of owned property)
Minimum Requirements For LLP Registration
- Minimum 2 Designated Partners
- Both Partners valid pan card
- DPIN for all Partners
- No Capital Requirement
- DSC for all Partners
- At least one appointed partner must be an Indian resident.
- Minimum 2 Designated Partners
- DPIN for all Partners
- DSC for all Partners
- Both Partners valid pan card
- No Capital Requirement
- At least one appointed partner must be an Indian resident.
Advantages of Conversion
- Easily to register, manage & run.
- Easy Transferability.
- Easily to dissolve or wind-up.
- No requirement of any minimum capital contribution.
- Low cost of Formation and compliances.
- Limited Liability for Partners.
- No restrictions as to maximum number of partners.
- Easily to register, manage & run.
- No requirement of any minimum capital contribution.
- Limited Liability for Partners.
- Easy Transferability.
- Low cost of Formation and compliances.
- No restrictions as to maximum number of partners.
- Easily to dissolve or wind-up.
5 SIMPLE STEPS
to Start Limited Liability Partnership in India
Frequently Asked Questions
The entire procedure is 100% online and you don’t have to be present at our office or any other office for incorporation. A scanned copy of documents has to be sent via mail. They get the company incorporation certificate from MCA via courier at their business address.
– At least two Designated partners are required for LLP registration. If you are the sole owner, you can register as a One Person Company.
The Partner must be an Indian citizen and a Resident of India. Any people can become the member of the partnership firm. However, the individual must 18+ above in terms of age and should have a valid PAN card.
Any individual, or even a company or an LLP, can become a partner. However, only an individual can become a ‘designated partner’ in an LLP.
– Yes, you can register your L.L.P at your residential address.
– An LLP agreement is one that is made between the partners and the LLP regarding the relationship between the individual partners in the LLP. An LLP agreement usually consists of management policies, inclusion of new partners, policy making strategies, and so on.
Firstly we just need to find a unique name as prefix and promoters need to provide name of the proposed L.L.P. along with significance of word. Secondly the name needs to include a word about the L.L.P. business activity. Finally before selecting Names it will be advisable to check on Google, MCA Portal, MCA Guidelines and Trade Mark site the availability of Name.
Yes, company office address can be changed anytime after incorporation.
Yes, but only after he has been assigned with DIN/DPIN. However, at least one designated partner in LLP must be a Resident of India. In fact, the foreign director can also be a majority shareholder in the company
Any group of persons who have or want to invest money in a business can start an LLP. A person or an investor becomes a partner, according to the LLP agreement, as provided in the Act of 2008. Also, the investors/partners are owners of the business started under the LLP.
An LLP agreement is filed in Form 3
No minimum capital is required for incorporation of LLP.
An LLP is required to file annual return and Statement of Accounts and Solvency as a part of annual compliance.
– Its take minimum 5 to 7 days or more depend on State ROC Department Procedure.
If LLP capital contribution is not exceed if capital contribution not exceed of rupees 25 lakhs and turnover is not exceed of rupees 40 lakhs then we need not get there account Audited.
– Digital signature certificate (DSC) is an electronic format of authorization and services as proof of identity of an individual for certain online transaction and filings. DSC are mainly used by the MCA (ROC), Income Tax Department, Directorate General of Foreign Trade, Employee Provident Fund and for E-Tenders in India. Digital Signatures are classified into three classes- Class 1, Class 2, and Class 3.
– Director Identification Number (DIN) is a unique number issued to existing Director or a future director of a company and required for company registration. DIN and Designated Partner Identification Number cam be used interchangeably . DPIN is required for registration a LLP in India . DIN typically contains all the personal information of the persona becoming a Director.
– PAN is a Permanent Account Number (10-digit alphanumeric number), which is issued by the Income Tax Department in India. A PAN Card is used as a document of identity proof.
(TAN) is a Tax Deduction and Collection Account Number (10-digit alphanumeric number), issued to persons who are required to deduct or collect tax on payments made by them under the Indian Income Tax Act, 1961.
