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Convert Proprietorship To Limited Liability Partnership

  • SureTax Fincare simplifies the process of Registration, Compliance & Management of your business, by making it more convenient than ever.
  • Completely online, Quick & Hassle free process – Our Services can be availed from any Location in India or Abroad.
  • Our team of CA-accredited professionals provide expert guidance throughout every stage of the process

Talk to an expert for Free: 70661 55000

Convert Proprietorship To Limited Liability Partnership

  • SureTax Fincare simplifies the process of Registration, Compliance & Management of your business, by making it more convenient than ever.
  • Completely online, Quick & Hassle free process – Our Services can be availed from any Location in India or Abroad.
  • Our team of CA-accredited professionals provide expert guidance throughout every stage of the process

Talk to an expert for Free: 70661 55000

Overview

"The main reasons to convert a proprietorship to a Limited Liability Partnership (LLP) are:

Limited liability protection for partners
Separation of ownership and management
Easier to raise capital
Improved credibility and reputation
Tax benefits
Easier transfer of ownership
Formal and established business structure."

Process

"Select a name for the LLP that complies with the LLP Act and the Companies Act. "

Prepare LLP agreement

Register the LLP

Obtain Director Identification Number (DIN) and Digital Signature Certificate (DSC)

File the incorporation form (e-Form 2)

"Obtain name approval for the proposed LLP from the ROC. "

File LLP agreement (e-Form 3)

Obtain certificate of registration

Eligibility

  • Registration:

    The proprietorship must be a registered business and have a PAN number.

  • Operation:

    The proprietorship must have been in operation for at least one financial year. "

  • Partners :

    The proposed LLP must have at least two partners.

  • Agreement :

    All partners must agree to the conversion.

  • Requirements:

    The proposed LLP must comply with the requirements of the Limited Liability Partnership Act, 2008.

Certificate of Registration

In the case of converting a proprietorship to a Limited Liability Partnership (LLP), the certificate of registration is a crucial document that proves the LLP’s existence and legitimacy as a separate legal entity.
The certificate of registration is issued by the Registrar of Companies (ROC) once the conversion process is complete and all the necessary documentation and forms have been submitted and approved.
The certificate of registration is an important document that is required for various purposes, such as opening a bank account, obtaining licenses, and conducting business activities.
Proprietorship to LLP

" Taxation on Partnership to LLP "

  • The Conversion of Proprietorship to LLP could result in tax liability, however, certain tax exemptions may also be available.
  • Therefore, it's highly recommended to consult our professional experts at Sure Tax Fincare, to ensure compliance with the regulations and laws.

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