Conversion of Proprietorship to Private Limited Company

Ideal for growing businesses

Starting At : Rs. 16,500 only ( All Inclusive )

SAVE 60% COST!!!

(Takes more than 15 days)

Information

Many business people start their businesses as a Sole Proprietorship due to the low compliance requirements. As the business and the incomes grow, 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.

Package

DIN for 2 Directors

Digital Signature For 2 Directors

Name search & approval

MOA/AOA

Registration Fees

Company PAN Card

Document

Documents:

Copy of PAN Card of the Directors
Passport size photograph of Directors
Copy of Aadhaar Card/ Voter identity card
Copy of Rent agreement(If rented property)
Electricity/ Water bill (Business Place)
Copy of Property papers (If owned property)
Landlord NOC (Format will be provided)

Procedure

Complete a Simple Form:

You need to fill our FSSAI application form and provide details about your food business.

Obtain DSC and DPIN from us:

After submitting your documents we will provide you with DSC and DPIN.

Verification and Name Approval:

For further procedures, details provided by you will be verified by our experts.

Document Submission:

We will create your documents and application and file them with ROC.

Your work is completed.:

Once your company is incorporated, we shall send you all the documents and DSCs.

Conditions

All the assets and the liability of the Sole Proprietory concern relating to the business immediately before the succession become the assets and the liability of the company.

The shareholding of the sole proprietor in the private limited company is not less than 50% of the total voting power in the company and his shareholding continues to remain so for a time period of 5 years from the date of the succession.

The sole proprietor does not receive any benefit or consideration, directly or indirectly, in any form or manner, other than by way of allotment of shares in the company.

Requirements

Minimum 2 Shareholders for Private Limited Company Registration

Minimum 2 Directors

Minimum Rs.1 Lac Share Capital

DIN for all Directors

FREQUENTLY ASKED QUESTIONS

Is it necessary to have 2 directors in a Private Limited Company Registration?

Yes, you need a minimum of two Directors for a private limited company. If you are the sole owner, you can register as a One Person Company.

Who can be a member of a Private Limited Company?

Any individual/organization can become the member of the private limited company including foreigners/NRI.

For Conversion of Proprietorship into private limited company do I have to be present in person?

The entire procedure is 100% online and you don’t have to be present at our office or any other office for closure of proprietorship & incorporation of private limited. A scanned copy of documents has to be sent via mail.

Are there any other payments to be made for incorporation certificate of private limited in addition to the fee paid at the time of conversion?

There is absolutely no other payment. We will send you an invoice that is all-inclusive, with no hidden charges

Can NRIs/Foreign Nationals become a Director in Private Limited Company?

Yes, an NRI or Foreign National can become a Director in a Private Limited Company on acquiring DIN. However, at least one Director on the Board of Directors must be a Resident of India.