Market Price: ₹4000
World Legal India Price: ₹2000
Conversion of a sole proprietorship business into an LLP to enjoy limited liability and structured governance under the LLP Act, 2008.
Market Price: ₹4000
World Legal India Price: ₹2000
Conversion of a sole proprietorship business into an LLP to enjoy limited liability and structured governance under the LLP Act, 2008.
Structure for Document:
Title: Proprietorship to Limited Liability Partnership (LLP)
Description: Short description (max 30 words)
Content: 150–200 word detailed explanation
Process Steps (optional):
Obtain Digital Signature Certificate (DSC) and Designated Partner Identification Number (DPIN)
File Form FiLLiP and incorporate the LLP with ROC
Draft and execute LLP agreement
Transfer assets, liabilities, and business operations from proprietorship to LLP
Update records with banks, clients, and statutory authorities for smooth transition
pdf details here...
Converting a proprietorship into a Limited Liability Partnership (LLP) allows a business owner to combine the flexibility of a partnership with the limited liability protection of a corporate structure. The process involves incorporating a new LLP with the Registrar of Companies (ROC) by submitting required documents such as Form FiLLiP (Form for incorporation of LLP), LLP agreement, identity and address proofs, and consent of designated partners. Once the LLP is incorporated, the proprietorship’s assets, liabilities, and business operations can be transferred to the LLP. This conversion provides advantages such as legal recognition as a separate entity, limited liability protection for partners, easier access to funding, and enhanced credibility with clients and banks. Professional assistance is recommended to handle incorporation formalities, prepare the LLP agreement, and ensure proper transfer of assets and liabilities. Timely and compliant conversion ensures smooth business continuity, adherence to statutory obligations, and protection of the owner’s personal assets, while enabling structured governance and growth opportunities under the LLP framework.