It is good practice to start of small as a partnership firm, but that does allow the business to scale up and reach maximum growth as the many of the features are missed out in a partnership 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. Conversion of partnership firm into company is governed under the provisions of companies act, 2013. Partnership firm to private limited can be done either by making all the partners subscribers to the Memorandum of the new company or, the new company which is incorporated takes over the partnership firm.
Conversion of partnership firm into company will not attract tax implications subject to certain conditions. The foremost condition is that the firm must be a registered partnership firm, must have minimum 2 partners and all the partners must become the shareholder of the company.
At Unilex Consultants we provide you a hassle free conversion of partnership firm into private limited company which would be dealt by our professionals within a time frame. Our team takes care of the documentation and aids in provide you the realistic estimation of cost.
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.
A private limited company will have more credibility and brand value in terms of the general public.
A private limited company would attract more investment and angel investors attention as a result the company would have more flow and progress.
The overall process for transferring is taxation free and can be done without any problems provided meeting the requirements.
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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.
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