What are some key/ basic documents required for conversion of a Limited Liability Partnership (LLP) into a company?

Particulars of members along with the proposed shareholding ratio Declaration of two or more directors verifying the particulars of all members Affidavit from all the partners for dissolution of the firm Copy of the LLP Agreement Copy of Newspaper advertisement in prescribed format Relevant certification from a CA/CS/CWA; etc. Consent of majority of members No objection certificate from the concerned Registrar of companies Certificate of registration of LLP Statement of accounts of the existing entity, prepared not later than 15 days preceding the date of application duly certified by auditor Undertaking by the proposed directors for compliance with requirements of...

What are the benefits of the conversion of Limited Liability Partnership (LLP) into a company?

The base rate of income tax in case of an LLP is 30%, whereas for private limited companies, the base rate of tax is 22% A private limited company has a separate legal identity as compared to a LLP. There is a separation of ownership and management in a private limited company, whereas in Limited Liability Partnership (LLP), the partners are owners and the managers of the LLP. The venture capitalist prefer corporate structures over LLP structures. Due to stringent compliances and disclosures under various laws, Companies enjoy a high degree of creditworthiness as compared to LLPs