Conversion of Partnership firm to LLP

An Ideal business structure for all “Small and Medium sized Enterprises” which are going for Partnership

Partnership to LLP

LLP was launched in India via the “Limited Liability Partnership Act, 2008”. The most important benefit of a “Limited Liability Partnership” is that, one partner is not liable for another partner’s misconduct or negligence. LLP is favoured by Professionals, Micro and Small businesses which are family-owned or closely-held. Limited Liability partnership offers the benefit of “limited liability” to it’s owners and at the same time it requires very minimal maintenance. The owners of a “Private limited company” have limited liability to their creditors. And in the case of a default, banks/creditors can only sell the company’s assets and not the personal assets of the directors. An Partnership to LLP also provides “limited liability protection” to the owners from the debts of the LLP. Accordingly, all partners in an Partnership to LLP enjoy the benefit of limited liability within the partnership. LLP Registration can be done through “Leciel Consulting”, which has it’s offices in Delhi NCR, Mumbai, Bengaluru, Chennai and all other Indian cities. It provides “dual advantages” of both a “Company and a Partnership”. No partner will be responsible for any kind of misconduct by the other partner. Cheaper to incorporate than a “Private limited company”.

Why Public Limited Registration ?

Low set-up cost

Minimal Compliances

Tax Advantages

Separate Legal Entity

What is Included In Our Package?

DPIN for 2 Partners
Partnership to LLP Agreement

Digital Signature For 2 Partners
Registration Fees

Name search & approval
Partnership to LLP Pan Card

Procedure For Conversion

Complete our OPC Form

After submitting your documents we will provide you with DSC and DPIN

Obtain DSC and DIN for Director of OPC

After submitting your documents we will provide you with DSC and DPIN

Verification and Name Approval of OPC

Details provided by you will be verified and then we shall apply for name approval.

Apply for the COI of OPC

Details provided by you will be verified and then we shall apply for name approval.

Your work is completed

You need to fill our simple company registration form and submit documents for the formation of a company.

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.

Frequently Asked Questions

What is the minimum number of Partners required to start a Limited

At least two members are required for LLP registration.

Who can become a partner in LLP?

>Any individual/organization can become the partner of LLP including foreigners/NRI’s.

Do I have to be available in person to convert partnership to a LLP?

Our procedure is 100% online. You won’t need to be available at our office or show up at any other office for conversion of partnership to a Limited Liability Partnership. A scanned copy of documents can be sent to us via mail, and we will handle the rest.

Once I pay for the incorporation, is there any other payment before I get the Incorporation Certificate of LLP?

There is absolutely no other payment. We will send you an invoice that is all-inclusive, with no hidden charges.

What is the time taken by LegalRaasta.com for conversion?

Leciel.Consulting can incorporate a LLP in 14-20 days. The time taken also depends on relevant documents provided by the applicant and speed of approvals from government. To ensure speedy registration, please pick a unique name for the proposed LLP and make sure you have all the required documents before starting the registration process.

Can NRIs/Foreign Nationals be a Designated Partner in LLP?

Yes, after acquiring DIN/DPIN an NRI or Foreign national can become a designated partner is LLP. However, at least one designated partner in the Partnership to LLP must be a Resident of India.

What are the advantages of an Partnership to LLP as opposed to a Private Limited Company?

The main advantage is that in an Partnership to LLP , there are fewer formalities after the business has been incorporated. For example, you need not file annual returns etc. unless your income crosses a certain limit. An LLP is preferable if you are offering professional services, like a lawyer or architect. A Pvt. Ltd. Company is preferred if you want to launch a scalable enterprise.

What are the disadvantages of forming an Partnership to LLP as opposed to a Private Limited Company?

You will find it hard to raise capital from investors or to attract talent to the business by issuing ESOPs.