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Partnership to LLP

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Partnership is register at registrar of firm at state level whereas LLP is governed by LLP Act, 2008 and known for better transparency than partnership firm. You want to be more transparent and perform across the India as body corporate.

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Why to Convert Partnership Company to LLP?

A Limited Liability Partnership (LLP) may prove to be a much superior business structure than a regular partnership. LLP have minimal compliances, tax benefits, limited liability, separate legal entity, no audit requirements below a certain capital, no cap with regard to the number of partners etc.

Nowadays partnership firms are being converted into a Limited Liability Partnership (LLP). LLP offers a bunch of great features such as limited liability protection, transferability, unlimited partners, survivability etc., making LLP structure more attractive than a partnership firm.

What are the requirements for conversion?

  • Partners of the partnership firm will remain the partners in new LLP, and those who do not wish to continue to be the partner in LLP should retire.
  • New partners who want to add themselves in LLP, should be added after the incorporation of LLP
  • All the designated partners should be updated with their income tax returns
  • All designated partners must apply for DSC
  • All designated partners must apply for DIN or DPIN
  • All designated partners must make contributions
  • All creditors must give their consent for conversion

Benefits of conversion are as follows:

  • An LLP offers a bunch of great features such as limited liability protection, transferability, unlimited partners, survivability, etc., making LLP structure more striking than a partnership firm
  • Private assets remain secured in an LLP
  • It’s easy for an LLP to raise funds
  • Great tax advantages as compared to the partnership
  • No minimum capital requirement

Procedure for Conversion of Partnership Company to LLP

  • Step 1: - Name approval for LLP in the prescribed form
  • Step 2: - Application filling for conversion of a partnership into LLP
  • Step 3: - File LLP form 17 to registered office and consent from each partner to become a designated partner in new LLP with ROC.
  • Step 4: - File LLP Agreement to ROC within the time frame
  • Step 5: - Issuance of Certificate of Registration by ROC
  • Step 6: - Send intimation to ROC regarding the conversion of a partnership into LLP
  • Step 7: - Once your company is converted into LLP, we send you all the documents and DSCs.

Note: - Whole conversion process takes between 15-20 days and also depends upon documents provided by applicant and approval speed by the government.

STEP 1

Connect With Corpseed

Connect with the team corpseed to discuss specific requirements for your business at IVR: 7558640644 or hello@corpseed.com. It takes 20-25 minutes to discuss requirement.

STEP 2

Dedicated Manager

Once you discuss the requirement, we will align a dedicated Account managers to understand your business needs and provide solutions and assist entire process.

STEP 3

Real Time Update

Use our platform to track progress of application and many more. Always know what is going on with your project, what is in progress, and what is done.

STEP 4

Job Completed

Once job is completed, you will receive complete registrations & certifications directly to your email ID and at your doorstep

FAQ`s

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At Corpseed, our valued customers are always kept in the loop as far as service delivery timeline is concerned and we inform our customers every time a milestone is achieved during each stage of service request processing. But we also believe that we may come across a customer who is not satisfied with our efforts. For that we have a very responsive Customer Care Department which work 24x7 to attend to and solve customer complaints. We also have a money back guarantee for those, who want their service charges to be refunded.

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Exception : If in case any "Default, Failure, Delay (hereinafter referred to as "Delay" in delivering the documents which are Clearly mentioned as per the Check List provided by the Corpseed ITES Private Limited) occurred by the Customer then the Consumer/Customer shall be liable to bear the risk in the case of failure occurred in the services provided by the Corpseed ITES Private Limited. Hence, The Customer shall not be liable to claim the refund in the above-mentioned situation.

If a customer is having issues with our service delivery process, he has various alternatives available at his disposal to register his grievance with us. He can either email his complaint at complaints@corpseed.com or he can call our 24x7 Customer Care Helpline. Also, any customer is always welcome to visit our office to lodge a complaint with the senior management.

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