20 December 2018
Documents Required for Conversion of Company into LLP The following documents have to be attached along with the application for conversion of company into LLP:
Consent of each of the shareholder of the company for conversion of the firm into LLP in the given format. Incorporation document in Form 2. Form 3- Form of application and declaration of incorporation of an LLP. Clearance/no-objection certificate from tax authorities. Statement of assets and liabilities from the company. List of all the creditors along with their consent. Approval from any other country. Authorization to make declaration. Optional attachments, if any. Eligibility A private limited company can be converted into an LLP under the following circumstances:
The company has no security interest in its assets at the time of application. The partners of the LLP will be no one but the shareholders of the company. Fee Payable for Conversion The fees payable for conversion are as follows:
LLP whose contribution is limited to Rs 1,00,000 – Rs. 500. LLP whose contribution exceeds Rs 1,00,000 but is limited to Rs 5,00,000 – Rs. 2000. LLP whose contribution exceeds Rs 5,00,000 but is limited to Rs 10,00,000 – Rs. 4000. LLP whose contribution exceeds Rs 10,00,000 – Rs. 5000. Certificate of Registration The LLP must intimate the registrar on the conversion of the company into LLP within 15 days from the date of conversion. The intimation must be processed in Form 14. The Registrar, after completion of the requisite formalities, will issue a certificate of registration. If the Registrar denies conversion, the private limited company can file an appeal before the Tribunal.
In case properties are registered in the name of the company, the LLP should notify the details of conversion to those authorities, along with the particulars of LLP.
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