Converting Business To LLP

Conversion of Company to LLP

Benefits of Converting Company to LLP

• No double taxation as LLP will be taxed as a firm
• No statutory requirements for holding General Meeting or Board Meeting
• No restriction regarding number of partners
• Simple and flexible structure of management.

Criteria for Conversion of Company to LLP

• There should not be any subsisting charges on assets on the company
• All the statutory returns under Companies Act & Income tax Act should be up to date.
• Consent to be obtained from all the shareholders for conversion.
• All the shareholders should become the partners of LLP and no others can be added at the time of conversion.

Procedure for Conversion of Company to LLP

1. Obtaining DPIN for the Designated Partners.
2. Apply for name of LLP
3. Filing of conversion documents in Form 2 and Form 18
4. Filing of LLP Agreement and Consent of Partners and Designated Partners
5. Filing of Form 14 with the Registrar of Companies.

Contact CompaniesInn to convert you company to LLP today.