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CONVERSION FROM PARTNERSHIP TO LLP


Conversion from Partnership to Limited Liability Partnership (LLP)

Now a days where there is a propensity to get your business to be operated in an organized sector, many of the traditional forms of business in India are getting converted into the modern corporatized style of business. This is not just due to the latest trend which is going on, but due to the benefits arising out of this like separate legal entity, limited liability of partners, perpetual succession etc. and this also strengthen the creditability of the entity because after a particular stage the bankers and other financers, they would be able to rely on the entity and finance them in a better way. There are various provisions in The Limited Liability Partnership Act, 2008, which provides various exemptions to LLPs which are not available to the companies registered under The Companies Act, 2013. Hence it is better to convert your partnership in the new form of doing business LLP.

Requirements:

Ø  Minimum 2 Partners who are Individuals & having the age of 18 years or above to be named as Designated Partners
Ø  Any one of the Designated partner to be the Resident in India.
Ø  No restriction on maximum no. of partners and the other Body Corporates can also be the partner in such LLPs.
Ø  No minimum capital requirement.
Ø  DSC (Digital Signature Certificate) is required.
Ø  DPIN (Designated Partner Identification Number) is required in favour of the designated partners.

Documents for Registration:

Ø  Copy of PAN Card of partners
Ø  Passport size photograph of partners
Ø  Copy of Aadhar Card/ Voter identity card/ Driver’s license as address proof.
Ø  Electricity/ Water bill/ Telephone bill/ Latest bank statement as proof of Registered Office (Business Place)
Ø  Copy of Sale Deed/Property Deed (If owned property), otherwise the Landlord NOC if the property is taken on rent / lease.
Ø  Passport in case of Foreign Nationals/ NRIs who want to partner in such LLP.

Additions in our services for Registration:

Ø  DPIN for 2 Partners
Ø  Digital Signature For 2 Partners
Ø  LLP Agreement
Ø  Statutory Fees
Ø  PAN Card & TAN no.
Ø  All other Consultancies regarding that.