Get entry into flexible corporate structure with Limited Liability

Request a Call Back

Convert partnership to LLP

Limited Liability Partnerships have an whip hand over the overall partnership structure because it is far more beneficial for the partners involved. LLP may be a separate legal entity with compulsory registration with the central government, which isn’t the case with the partnership. it’s a business structure that integrates the benefits of the company’s corporate structure and therefore the flexibility of the partnership, i.e. for organizing their internal composition and operation as a partnership. Therefore conversion of partnership firm into LLP may be a good business decision to secure the partners’ rights and limit their liabilities.

Benefits of partnership to LLP conversion

Limited Liability of Owners: The liability of Partners is restricted to an extent of capital contribution as agreed by the partners within the LLP Agreement. The loss or debt of LLP can’t be assigned to partners even at liquidation. Further, one partner isn’t held liable for the actions of negligence or misconduct of the other partner.
Separate legal entity: The partnership isn’t a separate legal entity. just in case if the partner(s) dies or retires or in the other case has got to leave the firm, the partnership ceases to exist. during this case, a replacement partnership has got to be formed; but this is often not the case with an indebtedness partnership. indebtedness partnership may be a separate legal entity.
Tax benefits: LLP saves the Dividend Distribution Tax, Minimum Alternative Tax, and tax because interest and remuneration are paid to partners as a salary that’s payable to directors.
Raising Capital: Raising Capital is simpler within the LLP structure because it allows a limited partner to participate without taking over any accountability, unlike the overall partnership where all common partners have unrestrained liability.

Working Process

Make Enquiry

Share your Contact Details and receive a free consultation.

Make Payment

Make Online or Offline Payment for your Order.

Submit Documents

Submit documents for your order using an online dashboard.

Work Completed

Work will be completed by us and updates delivered online.

Testimonials

We were looking for a reliable business license Consultant in Patna to renew our Fire License. We finally found Corporate Legal Guru. We are very happy with their proactive support and timely services.

Mc. Donalds

They are doing our GST, Income Tax and company compliance works from the last 5 years.

Harilal Sweets Shop

I am very happy with the service of Corporate Legal guru. They have a team of very knowledgeable professionals and they give dedicated experts to every customer.

Manoj Kumar

Best Chartered Accountant And Company Secretary Firm In Bihar And Jharkhand.

Ved Prakash