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Proprietorship To Private Limited
Conversion

Business grows!! Convert a Sole Proprietorship to Private Limited Company.

Get conversion done with us Online. Price starting from INR 8499/- only.

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Convert Sole Proprietorship To Private Limited

People start their businesses as a sole proprietor because of less compliance but as the business grows sole proprietor needs separate bank account for their business transactions, to complete all his requirements the immediate possible solution is conversion of proprietorship into private 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.

Flexible plans with no surprises

STARTER

8499/-
(All Inclusive)
  • 2 Digital Signature Certificates
  • 2 Director Identification Numbers
  • Company Name Reservation
  • Stamp Duty On INR 1 Lakh Authorized Capital
  • Corporate Identification Number (CIN)
  • MOA & AOA
  • PAN & TAN

PREMIUM

15499/-
(All Inclusive)
  • 2 Digital Signature Certificates
  • 2 Director Identification Numbers
  • Company Name Reservation
  • Stamp Duty On INR 1 Lakh Authorized Capital
  • Corporate Identification Number (CIN)
  • MOA & AOA
  • PAN & TAN
  • GST Registration
  • SSI/MSME/Udyog Aadhar Registration
  • Trademark Application (1 application 1 class) (start ups, proprietorship & small business)
  • Bank Account Opening Kit
Popular

ADVANCED

27499/-
(All Inclusive)
  • 2 Digital Signature Certificates
  • 2 Director Identification Numbers
  • Company Name Reservation
  • Stamp Duty On INR 1 Lakh Authorized Capital
  • Corporate Identification Number (CIN)
  • MOA & AOA
  • PAN & TAN
  • GST Registration
  • SSI/MSME/Udyog Aadhar Registartion
  • Trademark Application (1 application 1 class) (start ups, proprietorship & small business)
  • Bank Account Opening Kit
  • 2 Share Certficate
  • 1st Income Tax filing upto turnover of Rs. 1 Crore
  • 1st Annual filing upto turnover of Rs. 1 Crore
  • Company Seal
  • 100 Letterhead
  • 100 visiting card for 2 Director

Benefits of Convertign a Sole Proprietorship to Private Limited Company

The Limited Risk to Personal Assets

In case of loss made by the company, only the investments made in the company are lost, and the private assets of the members will not be confiscated.

Separate Legal Entity

A private limited company is a separate legal entity in itself. It is considered as an artificial person. It possess the right to sue and be sued by others in its capacity.

Brand Value

Information about the registration of Private limited companies can be obtained from the Ministry of Corporate Affairs website.

As a result, vendors, suppliers, the public tend to trust this form of business over proprietorship or partnership.

Ease of Expansion

Owing to the corporate entity structure, it becomes feasible for startups and growing businesses to raise funding from angel investors, venture capitalists, etc.

FDI Allowed

Private Limited Companies are those entities that allow for Foreign Direct Investment up 100 %. It means any foreign entity or foraging person can directly invest in a Private Limited Company.

Transfer of Ownership

It is very easy for a private limited company to issue fresh shares and transfer equity to new members, in addition to the transfer of existing shareholdings and directorship.

Documents Required For Conversion Into Private Limited

In case of Indian national Director or Member (Self-attested)

♦  Photograph of all the Directors
♦  PAN Card of all the Directors
♦  ID Proof of all the Directors (Driving License/Passport/Voter ID/Aadhar Card)
♦  Electricity Bill,  or any other utility bill for the address proof of the Registered Office

♦  Copy of bank statement

♦  Email ID and mobile number

♦  Rent agreement on the name of the company (No Objection Letter (NOC) from the landlord with his/her consent to use the office as a registered office of a company must be submitted)

 

In case the applicant is a foreign national (Self-attested)

♦  Passport (Apostille and Notarized)

♦  Residential proof (Apostille and Notarized)

♦  Email ID and mobile number

♦  Attested copy of VISA (If the applicant is out of the native country).

♦   Attested copy of Resident Permit certificate (If the applicant is in India)

♦ Rent agreement on the name of the company (No Objection Letter (NOC) from the landlord with his/her consent to use the office as a registered office of a company must be submitted) 

Fill Simple Checklist

A Compliance Manager will get in touch with you to obtain your documents along with a simple checklist. You need to fill up that checklist and submit along with your documents for processing. Our expert team will verify documents and proceed with registration formalities. All throughout the process, your dedicated Compliance Manager will keep you updated on the progress of Company Registration.

Name Approval

Once you submit your documents along with Checklist, we will proceed with the application of your Digital Signature and subsequently name approval. You may give up to three names of your choice. Names should be unique and suggestive of Company’s business. We will proceed with name approval through a form called “RUN” as prescribed by MCA. Name approval is received usually 1-2 days.

Company Registration

Once a name is approved, we will draft MOA (Memorandum of association) and AOA (Articles of association). We will file incorporation documents with MCA through a form called “SPICe” along with subscription statement. Usually, MCA approves the forms within 2-3 days once filed and issues Incorporation Certificate with CIN. PAN & TAN are allotted alongside. You may then proceed to open your Company Bank Account.

FAQs On Private Limited Company

A private limited company must have a minimum of two Directors and can have up to a maximum of fifteen Directors. But if you are a sole owner, you can incorporate One Person Company also.

It generally takes 8-10 working days to register Private Limited Company in India. The time is taken for registration totally depends on submission of relevant documents by the client and speed of Government Approvals. To ensure quick and speedy registration, please choose a unique name for your Company. Our registration fees for incorporation are all inclusive.

The Ministry of Corporate Affairs (MCA) mandates that the Directors sign some of the application documents using their Digital Signature. Hence, a Digital Signature is required for all Directors of a proposed Company. Digital Signature application is to be filed to obtain DSC.

Yes, a Foreign National or an NRI can become a Director of a Private Limited Company in India after obtaining Director Identification Number (DIN). However, it may be noted that at least one Director on the Board of Directors must be a Resident India.

Yes, Foreign or holding Companies can incorporate a wholly owned subsidiary in India, as a 100% owned Private Limited Company subject to Foreign Direct Investment (FDI) Guidelines.

Yes, Venture capitalist firms or angel investors can make an investment in the private limited company.

Don’t worry!! Our expert will help you to choose a best suitable plan for you. Get in touch with our team to get all your queries resolved. Write to us at contact@creatickconsulting.in or call us @ +91 8409671011