Ideal for Micro small and medium enterprises
(Takes < 30 days)
You must complete our short questionnaire with your information and upload any necessary papers.
We will provide you a DSC and DIN after you submit your paperwork.
Your information will be checked, and we'll submit a name approval request.
On your behalf, we will prepare all the necessary paperwork and submit it to the ROC.
Once your business has been incorporated, we courier all of the necessary documents to you.
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.
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.
By issuing ESOPs, you won't be able to recruit talent to the company or raise funding from investors.