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What happens to trail if I change from individual to partnership?
No. of Comments: 15
By Deepesh Mehta, Bangalore, ARN-52719 On 27-Dec-2012
Hello, I am Deepesh mehta, proprietor of M/s.Grow Wealth(ARN-52719) from Bangalore.Can anybody from the industry answer these questions. 1) what is the procedure to change my company from proprietorship status to a partnership status or a Private limited company. 2) If the change has happened successfully what about the trail commission .Will the AMC pay the trail for the previous investments.

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Posted by Kumar Debojyoti Dey on 06-Oct-2017 ARN NO :126155 City :kolkata
i have recently registered with AMFI and got ARN under individual. due to GST i have to register under gst hent thinking to convert my MF distributorship under my existing GST registared Poroprieatory firm. How can i convert it. what is the process of conversion. CAMS and AMCs i have visited but unable to provide any solution. pls. guide

Posted by vikas batra on 30-Dec-2012 ARN NO :6574 City :mohali
not done but mine is already partnership firm, so had thought bt goin propriter and thus know the procedure is to register a partnership firm, get the ARN number and then ask for trasfer of AUM

Posted by S.VENKATA RAMANI on 30-Dec-2012 ARN NO :56004 City :madras
Yes. You can convert your proprietorship to a Private Ltd Company complying provisions of Companies act. If the converted company is the successor of your proprietorship, firm as defined in the act, you WILL continue to receive your trail commission from the AMCs Still the easiest and best mode of conversion is to be an LLP ( LIMITED LIABILITY PARTNERSHIP CO.) This is in vogue in India for the last 2/3 years, though UK has been following this type of biz for decades. S.VENKATA RAMANI ARN 56004 EX Marine Officer M Com FICS(uk) DIL ARN Presently advising on realty and investments based at Madras, Chennai 94440 18103

Posted by bullseye con (P) ltd on 29-Dec-2012 ARN NO :86073 City :kolkata
dear sir, it is very long process,recently i have done this. to know it in details you can contact me on 9433748593 any thanks. chandra prakash pandey.

Posted by NILESH on 29-Dec-2012 ARN NO :69951 City :UDAIPUR

Posted by P V Subrahmanyam on 29-Dec-2012 ARN NO :ARN-0200 City :Kothagudem
Dear Deepesh Mehtaji 1) I suggest you to conver the firm in to an LLP (Limited Liability Partner Ship Firm) The Cost will be around Rs. 17 to 18 K. You can seach on net by typing LLP on google search. The Fee includes the service charges also. Any how you get it touch with them. 2) After opening of LLp you have to ask all the AMCs to Transfer your AUM on which you are getting trail to your Firms Name. Keep in touch with Karvy and CAMS and also RM and BM of AMCs. The have to do and will do. 3) They will pay becasue the service will be done by the nely formed LLP

Posted by Sunil Shah on 29-Dec-2012 ARN NO :23412 City :Mumbai
Now bring investments thru Mauritius route which FII bring money and we need to register abroad now. We are pushed hard to shift our Mutual Fund business and do Insurance only. Banks are only Mis-Selling funds to ignorant clients by just finding out their Bank balances but refuse to bring Rural areas down under in ambit

Posted by sharad gupta on 29-Dec-2012 ARN NO :15817 City :bijnor
dear ddepesh mehta,in my view you may not change your status from individual to partnership or pvt ltd company.better you aquire and work through multiple ARN in the ame of your family n well as trail is concerned you can request the transfer agents and submit a declaration from both the ARNs to club the AUM on a single ARN and you will reap all the benefits .better you write to registrar n transfer agents of AMC

Posted by Prithu Mukherjee on 28-Dec-2012 ARN NO :84499 City :New Delhi
Hello Deepesh Ji, The process for converting your company to partnership a) Prepare a partnership deed specifying the date of effect.You can choose to register your firm with Registrar of Firms. b) Intimate your bank, AMCs through CAMS / Karvy and AMFI c) You should ideally do this when your ARN is near expiry because you need to pay the registration fees to AMFI based on your company constitution. d) After the migration is done, you need to Transfer your AUM separately with each AMC to your new ARN ( which will be assigned since the prop firm would be replaced by the partnership firm or pvt ltd co.) After this process, you can receive the trail commission. CAMS would guide you in every step if you approach them. Rgds Prithu 9811715789

Posted by Sam Koshy on 28-Dec-2012 ARN NO :5727 City :KOLLAM
Your Assets will be mapped to the new partnership. All partners must be KYD compliant. Make sure all the partners combined equity AUM IS more than 100 crores, to be worthy. Remember to confirm the regulations as SEBI is coming up with new regulations every morning ! Happy Selling !

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