Overview
A Partnership is a popular form of business structure where two or more people share responsibilities, profits, and risks. It is easy to form and operate but has one major drawback, the partners have unlimited personal liability. This means if the firm incurs losses or debts, the personal assets of partners can be used to repay them. As businesses grow, this risk can become a major concern.
A Limited Liability Partnership (LLP), introduced under the Limited Liability Partnership Act, 2008, combines the flexibility of a partnership with the limited liability feature of a company. It has a separate legal identity, and partners are liable only to the extent of their agreed contribution. LLPs also have lesser compliance burden than companies, making them an ideal structure for small and medium-sized businesses looking for growth, credibility, and legal protection.
At BizGlobal, we make the conversion of your partnership firm into an LLP smooth and hassle-free. Our experts assist in name reservation, obtaining Digital Signature Certificate (DSC) and Designated Partner Identification Number (DPIN), drafting the LLP Agreement, filing incorporation forms with the Ministry of Corporate Affairs (MCA), and transferring all licenses and registrations to the new LLP. We ensure end-to-end compliance so you can focus on growing your business without worrying about legal formalities.
