Conversion Of Partnership Firm Into LLP

Can An Existing Partnership Firm Be Converted To LLP?
Posted 9 months ago  | 
Corporate Law,General Legal
Corporate Law General Legal

1 Answer(s)

Tanushree Sharma
Advocate

Yes, an existing partnership firm can be converted into LLP by complying with the Provisions of clause 58 and Schedule II of the LLP Act. Form 17 needs to be filed along with Form 2 for such conversion and incorporation of LLP.

To start the conversion of Partnership into LLP, Digital Signature Certificate (DSC) and Designated Partner Identification Number (DPIN) or Director Identification Number (DIN) must first be obtained from all the Partners. The application for conversion of Partnership into LLP must then be made through Form 17 along with the following documents or information:

  • Consent of Partners for conversion into LLP
  • Incorporation Documents for LLP
  • NOC Certificate from Tax Authorities
  • Financial Statements of the Partnership Firm
  • List of all creditors and their consent
  • Any other document or information as requested by the authorities

Once the above documents along with the documents are submitted to the Registrar, the Registrar after verifying the documents shall issue a certificate of registration for LLP. The LLP must then inform to the concerned Registrar of Firms about the conversion of Partnership into LLP within 15 days from the date of conversion through the prescribed forms.

Contact Lawyers for a Sufficient Information on the same