Convert your Proprietorship into LLP. Register your Limited Liability Partnership with Ebizfiling.com at INR 5999/- only.
100% money back | Easy EMIs
Before starting with the conversion of Proprietorship to LLP, let us understand what is limited Liability partnership
A limited Liability Partnership means a business where the minimum two members are required and there is no limit on the maximum number of members. The liability of the members of an LLP is limited.
Prime reason why the concept of LLP has evolved is because of its simplicity in formation and easy maintenance. It helps owners also to limit their liabilities. This is the biggest advantage of an LLP over a traditional partnership firm. LLP has a blend of the benefits of a Company and a Partnership Firm namely, limited liability feature of a company and flexibility of a partnership firm. No partner is liable on account of unauthorized actions of other partners, thus individual partners are shielded from joint liability created by another partner’s misconduct. LLP form of organization is usually preferred by Professionals, Micro and Small businesses that are family owned or closely-held.
A sole proprietorship cannot be directly converted into a LLP as it has only one person. It can be either done by closing the proprietorship and registering an LLP from scratch or by including another person in the business and making him a partner and then converting it to an LLP. Either way it would be a new LLP Registration only.
A minimum of two Partners are required to start the LLP formation procedure
Two designated partners, one of whom must be an Indian Citizen residing in India
A registered office that is located in India
LLP agreement through which The mutual rights and duties of partners shall be governed between LLP and the partners.
EbizFiling.com is an eminent business platform and a progressive concept, which helps end-to-end incorporation, compliance, advisory and management consultancy services to clients in India and abroad. Incorporating a Limited Liability Partnership is easy, seamless, cheapest and quickest with EbizFiling.com! Apart from an LLP, EbizFiling.com also helps entrepreneurs with Private Limited Company Registration, Public Limited Company Registration, Partnership Registration, HUF, One Person Company and Proprietorship Firm Registration easily. You may get in touch with us for free advisory on all the services.
(All Inclusive)
(All Inclusive)
(All Inclusive)
No minimum capital is required to form a LLP. no minimum capital contribution requirement. It can be registered even with Rs. 1000 as total capital contribution.
In case of LLP no mandatory Audit is required. The audit is required only when the turnover of the company exceeds Rs 40 lakhs and where the contribution exceeds Rs 25 lakhs.
Interest in LLP can be easily transferred by introducing new Designated Partner. LLP is a separate legal entity and changing a Designated Partner does not affect its existence.
LLP enjoys the benefit of Separate Legal Identity in the eyes of law which clearly states that assets and liabilities of the business are not the assets and liabilities of the Partners.
It is also exempted from various taxes such as dividend distribution tax and minimum alternative tax. The rate of tax on Limited Liability Partnership is less than compared to the company.
A person can be a partner, employee or creditor of a Limited Liability Partnership. There are different contracts with the same person in different capacities.
An Limited Liability Partnership must have a registered office in India. Documents like bank statement or electricity bill should not be older than 2 months. Along with that utility bill, rent agreement or sale deed and a No Objection Letter (NOC) from the landlord with his/her consent to use the office as a registered office of an LLP must be submitted.
A small procedure for your quick understanding
Complete simple form
Obtain DIN & DSC
Get name Approval from MCA
Get Companies PAN & TAN
Your LLP is incorporated in just 10 working days
Our Compliance Manager will get in touch with you to obtain your documents along with a checklist. You need to fill up the checklist and submit with the documents for processing. Our expert team will verify documents and proceed with LLP Formation Procedure. All throughout the process, a dedicated Compliance Manager will keep you updated on the progress of LLP Registration.
Once you submit your documents along with a checklist, we will proceed with the application of your, Digital Signature (DSC) and subsequently name approval. If you already have DIN, DPIN is not to be obtained again. Names should be unique and suggestive of LLP’s business. It usually takes 1-2 days to get the name approved for Limited Liability Partnership.
Once the name is approved, we will prepare an LLP Agreement. We will then file incorporation documents with MCA. Usually, MCA approves the forms within 6-7 days once filed, subject to processing time and issues Incorporation Certificate. PAN & TAN will then be separately applied for your LLP. You may then proceed to open your LLP Bank Account, once PAN is allotted.
Yes, an existing partnership firm can be converted into LLP by complying with the Provisions of the LLP Act.
Yes, any existing private company or existing unlisted public company can be converted into LLP by complying with the Provisions of the LLP Act.
LLP shall have option to declare one more address within the jurisdiction of same ROC (other than the registered office) for getting statutory notices/letters etc. from Registrar.
Persons, who subscribed to the “Incorporation Document” at the time of incorporation of LLP, shall be partners of LLP. Subsequent to incorporation, new partners can be admitted in the LLP as per conditions and requirements of LLP Agreement.
Every LLP would be required to file Annual Return with ROC. A duly authenticated Annual Return in e- Form-11, is to be filed with the Registrar, together with the prescribed fee, within a period of 60 days from the closure of every financial year.
Don’t worry!! Our expert will help you to choose best suitable plan for you. Get in touch with our team to get all your queries resolved. Write us on info@ebizfiling.com or call us @+91 9643 203 209.
Convert your Proprietorship into LLP. Register your Limited Liability Partnership with Ebizfiling.com at INR 5999/- only.
Call Now Button
