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.
What is Included In Our Package?
DPIN for 2 Partners
Digital Signature For 2 Partners
Name search & approval
LLP Pan Card
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.