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FAQs  Conversion to Company


What will be the status of the business or company after the conversion?

The status will show as "converted to LLP" and the date of conversion will be the date of registration of the LLP.



Will I be issued with a new registration number upon conversion?

Yes, you will be issued with an LLP Registration Number



Is there a requirement to the cessation of company secretaries and auditors before conversion?

No, there is no such requirement.



How about conversion of sole-proprietor to LLP, is there a need to find another partner?

You need to add the partner to the sole-proprietorship before you can convert it into an LLP.



Conversion to LLP - How do you prepare the final sets of accounts?

We are not in a position to answer this. Please seek advice from professionals who are preparing the accounts.



If a company holds properties and wants to be converted to an LLP. What is the implication in stamp duties?

Please check with IRAS.



For conversion from private limited company to LLP, must the private limited company file its audited/unaudited accounts up to the date of conversion?

We would advise the company to fulfill all its outstanding filing obligations before converting into an LLP.



For a conversion from a business/company to LLP, all partners/shareholders must be partners of LLP. After the said conversion stage is completed, how long must these partners remain in the LLP before the changes in LLP come into effect?

There is no time limit.



Can a LLP be converted to a private limited company? If so, then how? Does it have to be closed with the assets and liabilities be taken over by a private limited company? Can the new company retain the same name?

An LLP cannot convert to a company. An LLP can be wound up or struck off. As for whether a new company can use the same name as the terminated LLP, the provisions on names under the Companies Act shall apply.




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-CPA & B.Com (Uni Of Sydney)

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