The Limited Liability Company as well as a Conventional Partnership could be converted to Limited Liability Partnership, is both entity fulfill the requirement required by the law.
The conversion is benefit since the business entity could brought forward the business losses and unabsorbed capital allowances to the new business entity which is Limited Liability Partnership.
2. Conversion to LLP – Part 1
B. H, Loh & Associates 2
Conventional
Partnership
(CP)
Limited
Liability
Partnership
(LLP)
3. Condition to convert to Limited Liability
Partnership (LLP)
1. Same partners,
2. The conventional partnership I solvent,
3. Professional practice, an approval letter
from the professional organisation.
Condition Of Conventional
Partnership
B. H, Loh & Associates 3
4. Document require to convert to Limited
Liability Partnership (LLP)
1. The name and registration number of
the conventional partnership,
2. The date of conventional partnership,
3. The conventional partnership able to pay
its debts (they become due in the
normal course of business).
Document Require From
Conventional Partnership
B. H, Loh & Associates 4
5. Condition to convert to Limited Liability
Partnership (LLP)
1. Same shareholder,
2. There is no subsisting security interests
in its assets,
3. The private company is solvent,
Condition Of Limited Liability
Company
B. H, Loh & Associates 5
6. 4. All outstanding statutory fees to
government agencies has been settled,
5. Place an advertisement in newspaper
and the Gazette,
6. All creditors agreed to the conversion.
Condition Of Limited Liability
Company
B. H, Loh & Associates 6
7. Conversion to LLP – Part 2
B. H, Loh & Associates 7
Limited
Liability
Company
(LLC)
Limited
Liability
Partnership
(LLP)
8. Document require to convert to Limited
Liability Partnership (LLP)
1. The name and registration number of
the private company,
2. The date on which the private company
was incorporated,
Document Require From Limited
Liability Company
B. H, Loh & Associates 8
9. The private company appears to be able
to pay its debts as they become due in
the normal course of business,
All outstanding statutory fees or any
amount owning to any government
agency has been settled,
Document Require From Limited
Liability Company
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10. 1. Pending proceeding will be continue,
2. Pending conviction will be continue,
3. Existing contracts will be continued,
4. Existing appointment and employment
will be continued,
5. However, the permit should be reapply.
After conversion to LLP
B. H, Loh & Associates 10
11. Conversion to LLP – Part 3
B. H, Loh & Associates 11
Limited Liability
Company (LLC)
or
Conventional
Partnership (CP)
Limited
Liability
Partnership
(LLP)
Not
allowed
to
recovert
12. The ordinary business entity will be
automatically dissolve,
Once converted will not revert to ordinary
business entity,
Required to state in the invoice and
correspondence letter, the previous name
prior to conversion for a period of 12
months and within 14 days of conversion.
After conversion to LLP
B. H, Loh & Associates 12
13. B. H. Loh & Associates
Address :
No. 1-3-15, Goldhill Complex,
Tingkat Paya Terubong 1,
11060 Penang.
H/P No. : 016-4893382
Email : bhlohass@gmail.com
Web-site / facebook : bhloh.com.my
Thank you
B. H. Loh & Associates
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