Registration
CONVERT PARTNERSHIP INTO LLP COMPANY
What is Conversion of Partnership into LLP?
Conversion of a
traditional Partnership Firm into a Limited Liability Partnership (LLP) means
shifting your existing business structure to an LLP — which offers benefits of
a partnership with limited liability protection and legal recognition under
the LLP Act, 2008.
Benefits of Converting to LLP
|
Partnership
Firm |
LLP |
|
|
Unlimited liability |
→ |
Limited liability of
partners |
|
No separate legal
entity |
→ |
Separate legal
entity |
|
No perpetual
succession |
→ |
Perpetual succession
(even if partners change) |
|
Not as
compliant-friendly |
→ |
Less compliance
burden than Private Limited Company |
|
Cannot easily raise
funds |
→ |
More trust, easier
for banks & investors |
Additional Benefits:
- Easy transfer of ownership.
- No requirement of minimum
capital.
- Tax benefits in certain cases.
- No Dividend Distribution Tax
(DDT).
Process to Convert Partnership to LLP
Step-by-Step:
Obtain DSC (Digital
Signature Certificate) for all partners.
Apply for DPIN
(Designated Partner Identification Number) for proposed partners.
Name Reservation:
- Apply for LLP name
through RUN-LLP (Reserve Unique Name) on MCA portal.
File Incorporation Form (FiLLiP) along
with:
- Consent of partners.
- LLP Agreement.
- Details of registered office.
Apply for Conversion:
- File Form 17 (Application
for conversion) along with necessary attachments like:
- Statement of assets &
liabilities.
- Consent from all partners.
- Approval from secured
creditors (if any).
Get Certificate of
Incorporation from ROC.
Execute and file
LLP Agreement within 30 days from date of incorporation.
Apply for fresh
PAN, GST, and update bank & other records.
Eligibility Criteria for Conversion:
Existing firm
must be registered under the Indian Partnership Act, 1932.
All partners of the partnership firm should be the partners of the LLP
after conversion — no new partner can be added at the time of conversion.
Consent from all existing partners is mandatory.
No pending dues/liabilities or approval must be taken from creditors.
📄 Document
Title: COMPANY PROFILE OF CONVERT PARTNERSHIP INTO LLP COMPANY REGISTRATION
📜 Document Instructions:
Format: 📄 PDF
📄 Document
Title: APPLICATION FORM OF CONVERT PARTNERSHIP INTO LLP COMPANY
📜 Document Instructions:
Format: 📄 PDF
Service Related FAQ
What is the government fee for conversion?
The government fee varies based on the capital contribution of the LLP. Additionally, professional fees for consultancy or filing may apply.
Will the existing liabilities of the firm be transferred to the LLP?
Yes, all assets, liabilities, rights, and obligations of the partnership firm are transferred to the LLP after conversion.
Is it compulsory to register the partnership firm before conversion?
Yes, the partnership firm must be registered under the Indian Partnership Act, 1932 to be eligible for conversion.
What is the time taken for conversion?
On average, it takes around 10-15 working days, depending on document readiness and approval timelines.
What happens to the existing bank accounts and GST registration?
After conversion: Inform banks to update business constitution. Apply for amendment or fresh GST registration. Update other registrations like MSME, IEC, FSSAI, etc.
