LLP is a smart choice for professional services firms, and small and medium sized Enterprises going for Partnership.
Snapshot on Conversion of Partnership firm to LLP (Limited Liability Partnership)
Limited liability partnership (LLP) is governed by Limited Liability Partnership Act 2008. It combines the advantages of both the Company and Partnership into a single form of organization. The Partnership Firm which wants to convert itself to LLP must be registered under Indian Partnership Act, 1932.
Unregistered Partnership Firm can’t be converted to LLP. LLP incorporated by conversion of Partnership Firm to LLP must have same partners as they were in the Partnership Firm. Any new partners can be added only after the incorporation of LLP.
We at VyaparFormations would assist you in converting the status to LLP.
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