Partnership Firm To LLP

Conversion of Partnership firm to LLP

Ideal for Micro small and medium enterprises
(Takes < 30 days)

Convert Partnership to LLP

Procedure For Conversion

Step 1

Complete our Simple Form Online

You must complete our short questionnaire with your information and upload any necessary papers.

Step 2

Obtain DSC and DIN. from us

We will provide you a DSC and DIN after you submit your paperwork.

Step 3

Verification & Name Approval

Your information will be checked, and we'll submit a name approval request.

Step 4

Document Submission

On your behalf, we will prepare all the necessary paperwork and submit it to the ROC.

Step 5

Your work is completed

Once your business has been incorporated, we courier all of the necessary documents to you.

Partnership to LLP

Numerous Partnership Firms started converting their Partnership company to the LLP once the LLP Act was introduced in 2008. The justifications for conversion are self-evident, such as the need for an infinite number of partners, the creation of a separate legal body, the limitation of liability, and the simplicity of ownership transfers. These advantages of an LLP over a partnership have made LLP popular among small and medium-sized businesses.
The Indian Partnership Act, 1932 must be registered by the partnership firm that needs to convert to an LLP. You cannot convert an unregistered partnership firm to an LLP. Partners in an LLP formed as a result of a partnership firm's conversion to an LLP should be the same as they were in the partnership firm. Therefore, it is suggested that the Partnership Firm should terminate all of the Partners who do not intend to join the LLP, and that new partners should only be added after the LLP has been consolidated.

What is Included In Our Package?

Advantages of Conversion

Low set-up cost

Minimal Compliances

Tax Advantages

Limited Liability

Separate Legal Entity

Minimum Requirements for Public Limited Registration

Filing income tax returns on time.
The only form of payment the partners may take is the allocation of LLP shares.
All risky creditors must agree to the anticipated conversion in LLP.
Minimum 2 Partners.
Delegated partners must include at least one Indian resident.
DPIN for all the Partners.
DSC for all the Partners.
Every partner must make a contribution of some way.

Frequently Asked Questions

What benefits do an LLP have over a Private Limited Company?

The key benefit is that there are less formalities with an LLP once the company has been incorporated. For instance, until your income exceeds a certain threshold, you are not required to file annual returns, etc. If you are providing professional services, such as those of an architect or lawyer, an LLP is preferred. If you wish to start a scalable business, a Pvt. Ltd. company is preferred.

What drawbacks exist in creating an LLP rather than a Private Limited Company?

By issuing ESOPs, you won't be able to recruit talent to the company or raise funding from investors.

Income Tax Return Filing