You can convert your existing partnership to an LLP if the partners of the existing partnership will be the partners of the new LLP.
Similarly, you can convert an existing company to an LLP if all its shareholders are going to be the partners of the new LLP and the existing company has no outstanding debts at the time of application for conversion.
Converting your existing partnership or company to an LLP can be done online via BizFile+ using SingPass or CorpPass. The conversion fee is $40. Upon conversion, the status of your existing partnership or company will be updated to “Converted to LLP” and the date of conversion will be the date of registration of the new LLP. A new registration number will then be issued to the new LLP.
You are strongly advised to read the Second and Third Schedule of the LLP Act to understand the effects of conversion and the requirements after conversion. You are also encouraged to seek legal advice should you need further advice or assistance.