An LLP has many advantages as compared to a company. Among the main benefits are lower tax liabilities and fewer compliance requirements. Under Section 56 of the LLP Act, a company (private limited or limited) can convert into LLP by complaining with the provision of Schedule III of the LLP Act.
Before stating the process of conversion of Company into LLP, one must look whether the company is eligible for conversion into LLP.
Financial StatementPreparing a provisional balance sheet and all other prescribed documents. CompaniesInn.com will help you with the preparation of necessary documents.
Name ApplicationMaking an application for the desired LLP name. The proposed name must to the Company name replacing last words Private Limited with LLP
Documentation and FilingPreparing, verifying and filing all the prescribed documents for conversion, with the Registrar of LLPs. The Registrar, after reviewing and verifying the application along with the appended documents, registers the new LLP and issues a Certificate of Incorporation.
Notice to Authorities.Notifying changes to all concerned authorities and parties.
LLP AgreementPreparing an LLP Agreement and filing a copy with the Registrar of LLPs.
Prepare financial statement
How it works