Proprietorship to Pvt Company

We specialize in Conversion of Proprietorship to Private Limited Company Registration services to help your business meet compliance requirements and contribute to sustainable growth. Our services include the following:

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Overview of the Proprietorship to Pvt Ltd Company

  • Due to the low compliance requirements, many business owners in India originally set up as single proprietorships. The company will experience a boom and increase its sales after a specific number of years.
  • A sole proprietorship business will now be transformed into a private limited company in order to reduce responsibility, separate the bank accounts and tax filing of an individual, and to restrict their exposure.
  • By changing a sole proprietorship business into a private limited company, which is treated as a separate legal entity and reduces liability risk, personal assets are not affected unless fraud is involved.
  • The shares of the private limited company are not offered to the public and will be governed under the 2013 Companies Act. In a similar vein, the 1961 Income Tax Act's distinctive tax structure will be distinct from sole proprietorships, which treat their income as individual income..
Conversion-of-Proprietorship-to-Private-Limited-Company-in-chennai

Documents needed for online company registration

In India, registering a private limited corporation is impossible without valid identification and address documents. All of the directors and shareholders of the incorporated firm will need to provide documentation of their identities and addresses. The documents that MCA accepts for the online company registration process are listed below.

Proof of Identity and Address

  • A scanned copy of your passport or PAN card (Foreign Nationals & NRIs)
  • Voter ID, passport, or driver's licence scan
  • A scanned copy of the most recent phone, mobile, electric, or gas bill, bank statement, etc.
  • Specimen signature from a scanned passport-sized photo (blank document with signature [directors only])
  • An apostilled or notarized copy of the passport must be presented for foreign nationals as a requirement. All supplied documents must be legitimate. The bank statement or the electricity bill, which serve as proof of residence, must be less than two months old.

Proof of Registered Office

In India, registering a private limited corporation is impossible without valid identification and address documents. All of the directors and shareholders of the incorporated firm will need to provide documentation of their identities and addresses. The documents that MCA accepts for the online company registration process are listed below.

  • The most recent bank statement, phone or mobile bill, energy or gas bill, all in scanned form
  • English rental agreement scanned and notarized
  • Scanned copy of the property owner's certificate of no objection
  • English-language scan of a sale or property deed (in case of owned property)

E-Form spice 32

It is a company incorporation e-form that is given at the very end of the process. This form needs to be filled out with all the necessary information before being submitted with the necessary supporting documentation.

FAQ

The process involves registering the new company, transferring assets and liabilities, and obtaining necessary approvals and licenses.

Required documents include identity proof, address proof, the business registration certificate, and financial statements.

The conversion can take around 30-45 days, depending on the compliance and approval processes.

Yes, the transfer of assets may attract capital gains tax and other implications, which should be assessed beforehand.

No, you can retain your business name, but you must ensure it complies with company naming regulations.

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