Convert Sole Proprietorship To LLP

Basic Package

7500 + Govt Fee

  • Name Search & approval
  • Apply for Digital Signature
  • Apply for DPIN
  • Name Approval. ( LLP Form 1)
  • Filing of all mediatory forms like Form 17, Form 2 & Form 3
Note: - this package is for a company with turnover less than 25 lakhs

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Gold Package

14000 + Govt Fee

  • Name Search & approval
  • Apply for Digital Signature
  • Apply for DPIN
  • Name Approval. ( LLP Form 1)
  • Filing of all mediatory forms like Form 17, Form 2 & Form 3
Note: - this package is for a company with turnover less than 50 Lakhs.

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Platinum Package

17000 + Govt Fee

  • Name Search & approval
  • Apply for Digital Signature
  • Apply for DPIN
  • Name Approval. ( LLP Form 1)
  • Filing of all mediatory forms like Form 17, Form 2 & Form 3
Note: - this package is for a company with turnover less than 1 Crore.

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What is Conversion of Sole Proprietorship To LLP

A Sole Proprietorship is an easy structure to start your entrepreneur journey, but it might create obstacles in your future growth. If you’re looking to add partners in your business to have more diversity in thoughts, but don’t want too much of disturbance, in the way of compliance, structure or cost, it is wise to switch to an LLP.

If you don’t want to take responsibility or liability for another partner's misconduct, incompetence or negligence and also want to limit your liabilities for the debt and losses. If you want to enjoy tax benefits, then LLP might be the best option to go with.

  • Shields personal assets from business liability 
  • The LLP continues to exist even after the death of the Partner 
  • Separation of your business from your personal money 
  • A highly flexible management structure 
  • No Audit by a Chartered account if turnover is less than Rs.40 Lac
  • No Audit if Capital contribution is less than 25 lac
     

Corpseed procedure for Conversion

Step 1: - Contact Corpseed team, provide necessary documents to initiate the conversion process.

Step 2: - We will assign a dedicated and skilled resource to process your request for conversion.

Step 3: -  We will help you with Preliminary Documentation:

  • Ascertaining document requirement and availability
  • Preparation of documents
  • The signing of the Incorporation documents by Promoters
  • Submitting the Signed documents to ROC

Step 4: - We will verify your company name, apply for DSCs & DIN.

Step 5: We will apply for Incorporation certification.

Step 6: - We will draft LLP Agreement, stamping it & file for Incorporation

Step 7: - Once your LLP is incorporated, we will send you all the documents and DSCs

Note: - Whole conversion process takes between 25-30 days and also depends upon documents provided by applicant and approval speed by the government

Benefits of Limited Liability Partnership (LLP)

Benefits of Limited Liability Partnership

  • Shields personal assets from business liability
  • The LLP continues to exist even after the death of the Partner
  • Separation of your business from your personal money
  • A highly flexible management structure
  • No Audit by a Chartered account if turnover is less than Rs.40 Lac
  • No Audit if Capital contribution is less than 25 lakh

Requirements for Conversion

Must have minimum 2 Shareholders for LLP Registration

Must have Minimum 2 Directors

DIN is mandatory for all Directors

Basic conditions for Conversion

All the assets and the liability of the Sole Proprietorship becomes the assets and the liability of the newly formed company

Benefits & Documents Required

Three Easy Steps for Conversion

1. Connect to Corpseed

2. Provide necessary documents required for converting Sole Proprietorship to LLP

3. Our expert CA will help you to convert your Sole Proprietorship to LLP

Documents Required

  • Copy of PAN Card of the Directors
  • Passport size photograph of Directors
  • Copy of Property papers (If owned property)
  • Landlord NOC (Format will be provided)
  • Copy of Aadhaar Card/ Voter identity card
  • Copy of Rent agreement (If rented property)
  • Electricity/ Water bill (Business Place)

Benefits of Limited Liability Partnership

  • Shields personal assets from business liability
  • The LLP continues to exist even after the death of the Partner
  • Separation of your business from your personal money
  • A highly flexible management structure
  • No Audit by a Chartered account if turnover is less than Rs.40 Lac
  • No Audit if Capital contribution is less than 25 lakh

Frequently asked questions (FAQs)

Any individual can become the member of LLP. A foreigner or NRI can also become a member of LLP

It is wise to go for LLP to have better growth and market accessibility

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