A company where two or more people share ownership of the business is a partnership company. In a partnership company, each partner contributes to all aspects of the business. The partners also share the profits and losses of the business. Whereas LLP, which is limited liability partnership, is a company where all partners have limited liabilities. Here, one partner is not responsible for other partners’ diligence or negligence.
Advantages of LLP (Heading)
Documents needed to convert Partnership to LLP (Heading)
In case company wants to change its registered office within local limits of the same city or place, intimation regarding the same has to be filed in Form INC-22 within 15 days from the date of change i.e. passing Board Resolution.
Following information & documents are required for change in registered office of the Company:-
a) If registered office is changed with in local limits of the same city.
Proof of new registered office of the company (Electricity Bill/Telephone Bill/Lease Deed).
If the registrar is satisfied with the application, it may proceed to issue the certificate of registration. After which, the new LLP formed must submit a form-14 to Registrar of Firms within 15 days informing with whom the LLP was registered.
Once the procedure to convert Partnership to LLP comes to complete and the registrar provides the certificate of registration, the firm must follow the rules and regulations as applicable to LLPs.
No. For any licenses, permits, registrations, properties, approvals, etc., belonging to prior Partnership Company, the newly formed LLP must follow the required procedures with concerned authorities to transfer the assets.
The LLP shall ensure that for a period of twelve months commencing not later than 14 days after the date of registration, every official correspondence of the LLP bears the following:
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