Partnership to LLP

Partnership to LLP

The process for conversion of a Partnership firm to a Limited Liability Partnership (LLP) is as follows:

1. Obtain a Digital Signature Certificate (DSC) for the Designated Partner(s) of the proposed LLP.

2. Apply for Director Identification Number (DIN) for the proposed Designated Partner(s) of the LLP.

3. Conduct a Meeting of all the Partners of the Partnership firm and pass a resolution to initiate the process of conversion and authorize a Designated Partner or Company Secretary to make an application to the Registrar of LLPs for conversion.

4. Obtain a new name for the LLP by filing Form 1 with the Registrar of LLPs. The name must be unique and not similar to any other existing company or LLP.

5. Draft and file the LLP Agreement with the Registrar of LLPs. The LLP Agreement must contain the details of the partners, their contribution, profit sharing ratio, etc.

6. File Form 18 with the Registrar of LLPs within 15 days of filing Form 1. This form includes the application for conversion along with the following documents:

   • LLP Agreement
   • Copy of Partnership Deed
   • List of Designated Partners of the LLP
   • Details of LLPs in which the Designated Partner(s) are partners or Designated Partners
   • Consent of the Designated Partner(s) to act as Designated Partners of the LLP
   • Copy of latest Income Tax Return of the Partnership firm
   • Copy of PAN card and address proof of all the Designated Partners of the LLP

7. Obtain approval from Registrar of LLPs: Upon verification of the documents and satisfaction of the Registrar of LLPs, the Registrar will approve the conversion and issue a Certificate of Registration.

8. Update PAN and other registrations: After the conversion, update the Permanent Account Number (PAN) and other registrations with the respective authorities.

The list of documents required for the conversion of a Partnership firm to an LLP are as follows:

1. Copy of the Partnership Deed
2. List of Designated Partners of the LLP
3. Consent of the Designated Partner(s) to act as Designated Partners of the LLP
4. Copy of latest Income Tax Return of the Partnership firm
5. Copy of PAN card and address proof of all the Designated Partners of the LLP