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    Conversion of Partnership to Private Limited Company

    With the help of Conversion of Partnership to Private Limited Company You Can Expand your business reach with better funding, credibility and security.

    A Private Limited Company is a company which is privately held for small businesses. It is very popular form of business for start-ups in India. A private limited company has the limited liability of members but at the same time it has many characteristics as those of a partnership firm. a private limited company stands between partnership and widely owned public company.

    Advantages of converting Partnership to Private Limited Company

    Capital Requirement

    Raising funds as a private limited company is a comparatively easy task as it gives an opportunity for raising shares and has many ways to raise funds in the form of private equity and Banks and Financial Institutions.

    Separate legal entity

    A private limited company is a separate legal entity thus it has a perpetual succession. It continues to be in existence irrespective of the changes in membership.

    Limited Liability

    The liability of Directors are limited and assets of the director’s remain untouched if there are any outstanding debts on the company.

    Easy Transferable Ownership

    Easy Transferable Ownership. The ownership of the business can be transferred to an individual or to a company by transferring the shares with the consent of shareholders. The same is not allowed in proprietorship.

    Separate ownership and management

    The separate ownership and management help both to focus on their potential works. The shareholders assign responsibility to directors for operating and running the company without losing control in form of voting.

    Minimum Compliance

    Minimum Compliance requirement.

    Eligibility to form a Private Limited Company

    – Minimum Two (02) directors and Maximum 15 directors

    – Minimum Two Shareholders and Maximum 200 Shareholders can be either different from Directors or same.

    – Unique Name is required.

    – Alteast one Director should be an Indian Resident.

    How we Work?

    Step 1

    Fill-up our Contact Form and Submit

    Step 2

    Our Expert/ Legal Professional will contact you and provide brief guidance into the related context

    Step 3

    All Required Documents and Details to be provided as discussed with our Expert

    Step 4

    Our Expert will start Drafting of required documents for registration process

    Step 5

    Drafting of MOA & AOA, Payment of Stamp Duty and Notarisation of required documents.

    Step 6

    Application for DSC and DIN of the Directors

    Step 7

    Once all required documents are prepared, Our Expert will file Form SPICe+ Form with ROC.

    Step 8

    On Successful filing of Form with ROC, Certification of Incorporation will be issued to you by ROC.

    Documents Required for Private Limited Company registration

    Photograph

    Latest passport size photograph in jpg format of all directors.

    PAN card

    PAN card copy of all Indian Directors. In case of Foreign nationals, copy of valid Passport (not expired) is required.

    Identity Proof

    Aadhaar Card/ Voter ID/ Passport/ Driving License of all Directors. In case of Foreign nationals/ Foreign Representatives, copy of Identity proof of the country they are staying in is required.

    Directors Address Proof

    Aadhaar Card/ Voter ID/ Passport/ Driving License/ Bank Statement not older than 2 Months/ Utility Bills not older than 2 Months of all Directors.

    Digital Signature

    In case not having a valid DSC, then for obtaining DSC of all Directors and Foreign nationals, alongwith above documents, DSC Application Form and Video Verification as per the latest guidelines of DSC issued by CCA is required.

    Office Address Proof

    Copy of Electricity bill or Sale Deed or rent agreement and latest self- attested electricity bill in case of rented accommodation not older than 2 months.

    NOC from owner

    No Objection Certificate to be obtained from the owner(s) of registered office.

    Unique Name

    Four-Five Unique names in Preference order indicating the business of the Proposed Company.

    Business

    Description of main business activity intended to perform

    Income Tax Returns

    A copy of Latest income tax return filed by the Partnership firm.

    – A Copy of Partnership deed and Certificate of Registration duty verified by at least two partners of the general partnership.

    Note – In case of Foreign Nationals or NRIs, all documents need to be notarised and apostilled from the Country where the Foreign Nationals or NRI is presently residing or by the Indian Embassy in the Country where such person is presently residing.

    Frequently Asked Questions

    2. What is the minimum number of directors in a private limited company?

    Two. The Directors must compulsorily be individuals. They cannot be corporate bodies.

    3. Is an office required for a private limited company?

    An address in India where the registered office of the Company will be situated is required. The premises can be a commercial/ industrial/ residential where communication from the MCA will be received.

    4. How much time does it take to incorporate a company?

    ComplianceIndia can incorporate a Private Limited Company for in 8-10 days. The time taken for registration will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy registration, please choose a unique name for your Company and ensure you have all the required documents prior to starting the registration process.

    5. What is the minimum share capital of a private limited company?

    No Minimum capital required as per recent amendments in Company Act, 2013.

    6. Are there any prior approvals to be obtained from any authority in India to become a director in an Indian company?

    Yes. Every individual who is contemplating a position of a director in an Indian company must obtain a Directors Identification Number (DIN) before he can become a director in an Indian company.

    7. Can NRIs and Foreign Nationals register a Company?

    YES. NRIs, foreign nationals and foreign entities can register a company and invest in India, subject to the Foreign Direct Investment norms set by the RBI. However, incorporation rules in India require for one Indian national to be a part of the company on the Board of Directors.

    8. Whether the Body Corporate can be a Shareholder in Private Company?

    Any person is eligible to be a shareholder while registration or afterwards. A Body Corporate such as company or LLP; and Association of Persons (AOP) such as Society or Trust can also hold shares in a company. Further, a group of persons can jointly hold the share in the company.

    9. How we can reserve the name for a Company?

    Ministry has introduced a new form “RUN” (Reserve Unique Name) for company name registration on its portal. Under “RUN”, the applicant can make application by providing 2 different names with its significance. The names should be unique and in accordance with the provisions.

    10. what is the concept of Common Seal and is importance?

    There is no concept of a common seal in partnership. But a private limited company has a common seal which denotes the signature of the company and every company shall have its own common seal.

    11. Is capital gain or stamp duty charged upon conversion?

    No Capital Gains tax or stamp duty shall be charged on transfer of property from Partnership firm to a Private Limited Company.

    12. What happens to the loss and unabsorbed depreciation of the partnership firm on conversion?

    The accumulated loss and unabsorbed depreciation of Partnership firm are deemed to be loss/ depreciation of the successor company for the previous year in which conversion was affected. Thus, such a loss can be carried out for a further eight years in the hands of the successor company.

    13. Do I have to be physically present in person to Incorporate a company in India?

    No, you will not have to be present at our office or appear at any office for the registration of a Private Limited Company. All the documents can be scanned and sent through email to our office. Some documents will also have to be couriered to our office.

    OUR SERVICES

    Private Limited Company Incorporation

    ₹2,999/-

    Looking to Start a Company in India? Contact us for complete solutions to your needs…

    Get Started Now

    One Person Company Incorporation

    ₹2,999/-

    Looking to Start a One Person Co. in India? Contact us for complete solutions to your needs…

    Get Started Now

    Limited Liability Partnership Registration

    ₹2,999/-

    Looking to Start aLLP in India? Contact us for complete solutions to your needs…

    Get Started Now

    Indian Subsidiary Company Registration

    ₹9,999/-

    Looking to Start a Subsidiary Co. in India? Contact us for complete solutions to your needs…

    Get Started Now

    Trademark Registration

    ₹4,999/-

    Complete Solutions for Trademark Registration, Opposition, Reply, Renewal etc…

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    GST Registration

    ₹999/-

    Complete Solutions for GST Registration, Modification, Queries for all GST matters…

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    GST Return Filing

    ₹499/-

    ST Return Filing Solutions, NIL GST Return Filing, GST LUT Filing, GST E-Way Bill, Reply to GST Notice…

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    Accounting and Tax Services

    ₹499/-

    Complete Solutions for Tax, Payroll, TDS, Income Tax for Individual and Company etc…

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    Private Limited Annual Compliances

    ₹2,999/-

    Solutions for all yearly and event based compliance requirements related to your Company and Directors...

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    One Person Company Annual Compliances

    ₹2,999/-

    Solutions for all yearly and event based compliance requirements related to your Company and Director...

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    LLP Annual Compliances

    ₹2,999/-

    Solutions for all yearly and event based compliance requirements related to your LLP and Partners...

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    XBRL Conversion and Filing Services

    ₹5,000/-

    Get your XBRL financials ready for filing with MCA, BSE, NSE etc...

    Get Started Now

    WHY TO CHOOSE US

    Recognised by Govt. of India

    We are Govt. recognised registered Company providing Financial and Legal aspects to clients all over India.

    Professional & Experienced Team

    We are a strong team of 25 energetic people with 2 Chartered Accountants and 4 Company Secretaries.

    Quick Turnaround Time

    From our past records, we assure you 100% accuracy in services we provide within the timeframe mentioned.

    Cost Effective Service with Easy EMI

    With us, you can be confident that needs will be met and agreed-upon services will be provided at a fair price with an option of Easy EMI.

    5000+ Satisfied Customers

    We provide financial, taxation and regulatory services to more than 5,000 Individuals and Businesses.

    ISO 27001:2013 Certified for Data Security

    Certified Service provider for quality standards, data security and confidentiality.

    Transparent Process & No Hidden Charges

    We practice transparent pricing for all services and separate cost into three categories, our fee, government fee, and GST. No Hidden Cost.

    All services under one roof

    From incorporation to routine finance, tax and regulatory services till Closure/ wind-up for businesses and Individuals.