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What is Proprietorship firm converted into a Private Company

It is good practice to start of small in an unincorporated manner, but that does allow the business to scale up and reach maximum growth as the many of the features are missed out in a proprietorship firm. The features such as transfer of shares, limited liability, easy funding process etc are a major things a growing business must consider when they are exploring. A proprietorship firm may be converted into a company by executing a proprietorship takeover agreement.

It is incorporated as a new company in the MOA, with the mentions of board directors and important credibility details as such, with that being signed the transfer of power happens to the new private limited company which is represented in terms of acquisition.

At Unilex Consultants we provide you a hassle free conversion process which would be dealt by our professionals within a time frame of 10-15 days and is subjective to governmental processing time. Our team takes care of the documentation and aids in provide you the realistic estimation of cost.

At Unilex Consultants we provide you a hassle free registration process which would be dealt by our professionals within a time frame of 10 days and is subjective to governmental processing time. Our team takes care of the documentation and aids in provide you the realistic estimation of cost.

Advantages of the conversion from proprietorship to private company


STAMP DUTY FREE

As the assets are already in the part of the company’s name there is no need of paying any exemplary stamp duty for the transfer of assets.

CREDIBILITY

A private limited company will have more credibility and brand value in terms of the general public.

INVESTMENT

A private limited company would attract more investment and angel investors attention as a result the company would have more flow and progress.

TAXATION

The overall process for transferring is taxation free and can be done without any problems provided meeting the requirements.

Documents required for proprietorship firm to private Company


Passport size photograph of Directors

Copy of Aadhaar Card/ Voter identity card

Copy of PAN Card of the Directors

Electricity/ Water bill (Business Place)

Landlord NOC (Format will be provided)

Service tax or sales tax number if any

Proprietorship registration certificate

Latest ITR acknowledgements

Call Us at : 0120-4134791

OR


PACKAGES


Basic

9999/-
Inclusive all taxes

Name Approval
MOA/AOA
2 DIN
2 DSC
PAN & TAN
Certificate of Incorporation
Share Certificate

Premium

13999/-
Inclusive all taxes

Name Approval
MOA/AOA
2 DIN
2 DSC
PAN & TAN
Certificate of Incorporation
PAN surrender
Department follow up
Trademark filing
GST registration

Standard

11999/-
Inclusive all taxes

Name Approval
MOA/AOA
2 DIN
2 DSC
PAN & TAN
Certificate of Incorporation
PAN surrender
Department follow up

Note:

  • The above price may vary due to stamp duty in various states
  • Trademark filing excludes government fees

Procedure of Proprietorship to Private Limited Company Conversion

1

Obtaining DSC and name approval

1-3 Working Day

Digital Signature Certificate (DSC) is required for the proposed Directors of the Private Limited Company. After getting DSC we will apply for name approval.
2

Document Review & Completion

3-4 Working Day

Once the name gets approved, our team will get in touch and collect all the requisite documents in scan for the incorporation of the company through the SPICE i.e INC 32.
3

Document Submission

1-2 Working Day

After the review of all the documents required, we will submit them to the MCA and once it gets approved by the ministry we will send the MOA & AOA via mail and DSC through courier and go for the preparation of takeover of business agreement

Mandatory requirements for conversion of proprietorship to private company

  • all the assets and liabilities of the sole proprietary concern relating to the business immediately before the succession become the assets and liabilities of the company.
  • the shareholding of the sole proprietor in the company is not less than fifty per cent of the total voting power in the company and his shareholding continues to remain as such for a period of five years from the date of the succession; and
  • the sole proprietor does not receive any consideration or benefit, directly or indirectly, in any form or manner, other than by way of allotment of shares in the company;

FAQ’s About Proprietorship firm converted into a Private Company

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Services delivered

WHY CHOOSE UNILEX?

Well with highly qualified professionals in our team along with the technology gives edge over others, as a result highly rated professional services with full customer satisfaction is assured. We help to grow and manage your business letting you to concentrate on your business.

MSME REGISTERED
Unilex is registered with the Ministry of Micro, Small & Medium Enterprises (MSME), a part of Government of India.

ISO 9001:2015 CERTIFIED
Unilex is a ISO certified body, assuring the quality professional services to aspiring startups

MONEY BACK GUARANTEE
Subject to our terms and conditions, money back is guaranteed if we failed to give 100% customer satisfaction

GOOGLE PARTNER
Unilex is a Google Partner. Google Partners are tasked with helping businesses market their service or products online.

Testimonial Slider

  • “With a proficient team of professionals, Unilex provides a ready solution for every business related problem and never compromises on the final quality of services provided”. Navnit Kachalia
    Chairman and Managing Director, Navnit Group of
    Companies, Mumbai

  • “Getting your work done through Unilex is surely giving it in safe hands. Without a second thought, get associated with them”.

  • “Unilex has its unique way of meeting all your legal compliances and that too at a comparatively low cost.” Sudhir Budhrani
    Managing Director, Sudhir Life Sciences Pvt. Ltd.
    Indore

  • “The best part about getting your work done through Unilex is, that they don’t share your trouble, indeed they make you trouble free!”

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