Grow your business by converting Proprietorship to Private Limited Company.
Starting at :₹13999 (all inclusive)
CONVERSION OF PROPRIETORSHIP TO PRIVATE LIMITED
Starting a business as a Sole Proprietorship is a common practice by most of the people due to low compliance requirements. But with the increase in business and growth in income , there is a need to separate the bank accounts and the tax filings of the Sole Proprietor and that of the business. To accomplish this separation a possible solution is to convert the Sole Proprietorship into a Private Limited Company.
To convert a Sole Proprietorship into a Private Limited Company, an agreement has to be executed between the Proprietorship and the Private Limited Company (once it is incorporated) for the sale of the business. Further, such Private Limited Company so incorporated must have “the takeover of a Sole Proprietorship Concern” as one of the objectives in its Memorandum of Association.
|EASE OF FORMATION||A Private Limited Company can be easily registered and is easy to manage and run.|
|SEPARATE LEGAL ENTITY||The biggest advantage of a Private Limited Company is that its identity is distinct from that of its members. A company is a separate person having its own rights & Obligations which ultimately limits the liability of members.|
|PERPETUAL SUCCESSION||In case of death of the owner or transfer of shares, your business won’t get affected. There will be no effect on firm’s continuance.|
|LIMITED LIABILITY||The greatest benefit of Private Limited Company is limited liability. If any liability arise then its member is not personally affected; members are only liable for unpaid shares held by them and not more than that. Stakeholders are not liable for corporate debts and liabilities.|
|GREATER FLEXIBILITY||A Private Limited Company is required to perform lesser legal formalities as compared to a Public Limited Company. It enjoys special exemptions and privileges under the company law. Therefore, in Private Limited Company, less number of compliance is required.|
|SECRECY||A Private Limited Company is not required to publish its accounts or file several documents. Therefore, it is in a better position than a public company to maintain business secrets.|
|INVESTMENT||Private limited companies easily accommodate equity funding as there is a clear distinction between shareholders and directors as well as limited liability. In fact, venture capitalists and private equity funds prefer to invest in this structure.|
|TRANSPARENCEY||Private Limited Company enjoys enhanced transparency thus able to win the trust of general public.|
Digital Signature Certificate(DSC) and Director Identification Number(DIN) is required for the proposed Directors of the Private Limited Company which is necessary to file the company registration documents. For this, you will only need to provide a few scanned documents and details; our representatives will fill the form and submit it online. DIN and DSC can be obtained for the proposed Directors within 1 to 2 days.
Self Attested PAN Card copy of Directors
Self Attested copy of any one of the Identity Proof(Voter's ID/Passport/Driver's License)
Self Attested copy of Address Proof in the name of director (Any utility bill i.e., mobile bill/water bill/ electricity bill, or bank statement which should not be older than two months)
Passport-sized photograph of the Directors
Rent Agreement (Notarised: For rented property)
Sale Deed/Property Deed in English (in case of owned property)
No-objection Certificate from property owner
Latest Electricity Bill / Mobile or Telephone Bill / Latest Bank Statement/Gas Bill