PROPRIETORSHIP FIRM TO PRIVATE LIMITED COMPANY
Legal Terminus can help you with Conversion of Proprietorship Firm into a Company in a hassle-free manner within a reasonable time span and competitive Professional fee which starts from Rs. 14999/- excluding Govt. Fees
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Frequently asked questions about Proprietorship firm to private limited company
A sole proprietorship firm is a popular business structure for most small and medium traders/manufacturers/ service providers. However, there is no requirement of registration of any such firm under the extant laws in force. Furthermore, there is no provision for compulsory audit of a sole proprietorship firm. Therefore, as it grows in size, it becomes need of the hour for a business to evolve into a more trustworthy and transparent structure, such as Company. It has been observed that such structures are preferred by critical stakeholders (investors, creditors, etc.). Hence, various sole proprietorship firms seek to convert to a corporate structure. Certain relevant queries in connection with the same have been dealt below.
Once an organization is registered, the liability/responsibility to file returns vested automatically with the organization.
- Particulars of members along with the proposed shareholding ratio
- Declaration of two or more directors verifying the particulars of all members
- Copy of Newspaper advertisement in prescribed format
- Relevant certification from a CA/CS/CWA; etc.
- Declaration/particulars as per DIR 8, DIR 2, 16(1), INC 9
- Bank Statement with current transactions
- KYC documents
- Electricity Bill, Rent Agreement, NOC by the owner of Registered office
- Dissolution Deed
- NOC unsecured creditors & secured creditors
- For the purpose of conversion of a sole Proprietorship Firm into a company at least two individuals are required, out of which one shall be the existing proprietor.
- Preparation of DSC and DIN of all proposed Directors
- Preparation and Filing of name application through web form RUN through MCA portal.
- Preparation and filing of E form URC 1, E form spice, E form Spice MOA &E form Spice AOA
- Appropriate Government fees is payable depending upon the authorized capital of the company.
- Issuance of Certificate of incorporation along with PAN and TAN.
The process of Conversion of Proprietorship Firm into a Company can take anywhere between 40 to 50 working days, subject to submission of correct information and complete documentation.
Legal Terminus can help you with Conversion of Proprietorship Firm into a Company in a hassle-free manner within a reasonable time span and competitive Professional fees. To know more please book a telephonic appointment with one of our consultants for free.
Terms & Conditions
The fee mentioned above does not include any govt fees, expenditure towards any newspaper advertisement, certification from any professional, preparation of Statement of accounts and accordingly kindly contact our executive to get an all inclusive fee quote