Conversion of Proprietorship to Private Limited Company
Ideal for growing businesses
Starting At Rs. 13,999 Onwards
(Takes < 15 days)
Convert Proprietorship to PVT
Procedure For Conversion
LLP Registration Online
Conversion of Sole Proprietor to Private Limited Company
Many business people start their businesses as a Sole Proprietorship because of the low compliance requirements. As the business and therefore the incomes grow, there is a requirement to separate the bank accounts and therefore tax filings of the Sole Proprietor and that of the business. Convert the Sole Proprietorship into a Private Limited Company to achieve this separation.
To convert over a Sole Proprietorship into a Private Limited Company, an agreement must be executed between the Proprietorship and the Private Limited Company (when it is consolidated) for the sale of the business. Further, such Private Limited Company so fused must have “the takeover of a Sole Proprietorship Concern” as one of the destinations in its Memorandum of Association
Conversion to Sole Proprietorship is done through LegalRaahi
What is Included In Our Package?
- DIN for 2 Directors
- Digital Signature For 2 Directors
- Name search & approval
- Registration Fees
- Company Pan Card
Conditions for Conversion
All the benefits and the obligation of the Sole Proprietor concern identifying with the business preceding the progression become the advantages and the liability of the organizations.
The shareholding of the sole proprietor within the private limited company should not be less than 50% of the entire voting power within the company and his shareholding continues to stay so for a period of time of 5 years from the date of the progression.
The sole proprietor does not get any advantage or consideration, directly or indirectly, in any structure or way, other than by some other means that method of allotment of shares within the company
Minimum Requirements for Conversion
- Minimum 2 Shareholders for Private Limited Company Registration
- Minimum 2 Directors
- Minimum Rs.1 Lac Share Capital
- DIN for all Directors