Convert Partnership to LLP

Protecting your interest

Categories: Business in India, Expand your Business

Description

In recent years, the trend of conversion of partnership firms to LLP has increased. This is mainly because of the main feature of LLP, i.e. the limited liability of the partners. LLP gives the best of two worlds, i.e. of a private limited company and partnership firm.

LLP offers unlimited partners, perpetual succession, more flexibility, and less compliance than private limited companies. Further, regulations related to the FDI in an LLP are comparably relaxed when compared to a partnership.

The following documents are required for conversion of partnership to LLP:

Name of the Proposed LLP
Partnership Deed of the partnership firm
Digital Signature Certificate of the Respective Partners
Authorised Capital of the LLP
Information related to the contribution by the partners
Registered office address of the partnership limited entity
Identification Documents of the Partners- Voter ID and other related information
Utility Bill of the Partnership Firm- Electricity Bill/ Water Bill or any other Bill
Evidence or Proof of the Registered Office of the Partnership (Lease deed/Ownership Documents) of the property
Permanent Account Number (PAN) of all the Partners of the Partnership
Audited accounts related to the Partnership
Statements such as Bank Details of the Partnership
Main objects of the Partnership Business
NOC of the owner of the premises in case the premises are leased

Post Incorporation Documents

Copy of the Certificate of Incorporation of the LLP
Documents that are submitted for LLP

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