Convert Partnership Firm to LLP 2017-07-08T13:13:30+00:00

Conversion of Partnership firm to LLP


Ideal for Micro small and medium enterprises

Ideal for Micro small and medium enterprises

Starting At

Rs. 7,999 Onwards

SAVE 50% COST!!!

(Takes <30 days)

Your details:
875-000-8585
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KNOW ALL ABOUT CONVERSION OF PARTNERSHIP TO LLP

Partnership to LLP


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. LLP incorporated by conversion of Partnership Firm to LLP must have same partners as they were in the Partnership Firm. Therefore it is suggested that the Partnership Firm should retire all the Partners who do not wish to be a part of LLP and if new partners are to be added, they should be added after the incorporation of LLP.
Conversion of partnership to LLP is done through LegalRaasta.

WHAT IS INCLUDED IN OUR PACKAGE


DPIN for 2 Partners

Digital Signature For 2 Partners

Name search & approval

LLP Agreement

Registration Fees

LLP Pan Card

PROCEDURE FOR CONVERSION


ADVANTAGES OF LLP


Low set-up cost

Minimal Compliances

Tax Advantages

Limited Liability

Separate Legal Entity

MINIMUM REQUIREMENTS FOR CONVERSION TO LLP


Up to date filing of Income tax returns.

The partners shall receive consideration only by way of allotment of shares in LLP.

Consent of all the unsecured creditors for the proposed conversion in LLP.

Minimum 2 Partners.

At least 1 of the designated partners shall be an Indian Resident.

DPIN for all the Partners.

DSC for all the Partners.

There has to be some sort of contribution from each partner.

 

FREQUENTLY ASKED QUESTIONS


1. What is the minimum number of Partners required to start a Limited Liability Partnership?
At least two members are required for LLP registration.
2. Who can become a partner in LLP?
Any individual/organization can become the partner of LLP including foreigners/NRI’s.
3. Do I have to be available in person to convert partnership to a LLP?
Our procedure is 100% online. You won’t need to be available at our office or show up at any other office for conversion of partnership to a Limited Liability Partnership. A scanned copy of documents can be sent to us via mail, and we will handle the rest.
4. Once I pay for the incorporation, is there any other payment before I get the Incorporation Certificate of LLP?
There is absolutely no other payment. We will send you an invoice that is all-inclusive, with no hidden charges.
5. What is the time taken by LegalRaasta.com for conversion?
LegalRaasta.com can incorporate a LLP in 14-20 days. The time taken also depends on relevant documents provided by the applicant and speed of approvals from government. To ensure speedy registration, please pick a unique name for the proposed LLP and make sure you have all the required documents before starting the registration process.
6. Can NRIs/Foreign Nationals be a Designated Partner in LLP?
Yes, after acquiring DIN/DPIN an NRI or Foreign national can become a designated partner is LLP. However, at least one designated partner in the LLP must be a Resident of India.
7. What are the advantages of an LLP as opposed to a Private Limited Company?
The main advantage is that in an LLP, there are fewer formalities after the business has been incorporated. For example, you need not file annual returns etc. unless your income crosses a certain limit. An LLP is preferable if you are offering professional services, like a lawyer or architect. A Pvt. Ltd. Company is preferred if you want to launch a scalable enterprise.
8. What are the disadvantages of forming an LLP as opposed to a Private Limited Company?
You will find it hard to raise capital from investors or to attract talent to the business by issuing ESOPs.

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