Convert a Partnership to an LLP

A Limited Liability Partnership is a much more advanced business vehicle than a regular partnership.

Get Started At 10,000 + Govt fees

Convert a Partnership to an LLP

WHY Eformation

15 Working Days

Just tell us a little bit about your business and you'll have the incorporation certificate in 15 working days. During this time, we will apply for a new LLP name and submit conversion and incorporation documents.

9.1 Customer Score

We make your interaction with government as smooth as is possible by doing all the paperwork for you. We will also give you absolute clarity on the process to set realistic expectations.

Strong Team

Our team of experienced business advisors are a phone call away, should you have any queries about the process. But we'll try to ensure that your doubts are cleared before they even arise.

ADVANTAGES OF PRIVATE LIMITED COMPANY

Limits Members' Liability

Businesses often need to borrow money. In a General Partnership, partners are personally liable for all this debt. So if it cannot be repaid by the business, the partners would have to sell their personal possessions to do so. In an LLP, only the amount invested in starting the business would be lost; all personal property would be safe.

Investment-ready

Private limited companies easily accommodate equity funding as there is a clear distinction between shareholders and directors as well as limited liability. In fact, venture capitalists and private equity funds are unlikely to invest in any other structure. This is because LLPs would require them to become partners in the business, while an OPC can have only one shareholder.

Reduced Compliance

An LLP only requires audited annual returns to be filed if it has a turnover of greater than Rs. 40 lakh or capital contribution of over Rs. 25 lakh. It also needs to communicate fewer business transactions and structural changes than a private limited company.

Tax Advantages

There are some important advantages over the private limited company. For example, Dividend Distribution Tax and tax surcharge don't apply. Loans to partners are also not taxable as income.

Founded by young, dynamic and well qualified professionals, Eformation provides a complete range of integrated IT & legal support services to worldwide legal community and helps our clients in receiving value for money.



© eformation | Powered by Aayam Infotech Pvt. Ltd.