The structure of Partnership Firm and Limited Liability Partnership is same except that the Limited Liability Partnership enjoys the limited liability and corporate existence in the eyes of the law. It is the hybrid of the Private Limited Company and Partnership firm.
Benefits of Conversion from Partnership firm to Limited Liability Partnership
Documents required for Conversion
Self attested copy of PAN card from the Partners
Self attested copy of Identity proof from the Partners (AADHAR / Voter ID / Passport / Driving Licence)
Latest photograph of the Partners
Address proof of Registered business premises (Latest electricity bill / telephone bill)
Rent agreement in case the premises is leased or rented.
Steps for Conversion to LLP
Step 1 – Applying for the DSC of the Partners
Step 2 – Applying for the Name reservation
Step 3 – File the Incorporation documents with the ROC in Form 2
Step 4 – Get your LLP Incorporated certification after filing the Incorporation document in the respective LLP e form.
Step 5 – Within 30 days of the LLP incorporation, the LLP shall file the LLP agreement in Form 3