Most of the business in starting phase preferred to register as a Proprietorship firm because of its lower compliance requirements. With the growth of the business, it is advisable to take action to limit the liabilities and reduce the burden of compliance on a single person, for the same the best option is to convert the proprietorship firm to a Private Limited Company. For converting a proprietorship firm to Private Limited Company, promoters of the company must have enter to an agreement which is to be made for selling the business. The conversion from proprietorship to Private Limited Company must have clearly mentioned in the Memorandum of Association as ‘Takeover of a proprietorship firm’.
Private Limited Company registration process is stringent enough to make this structure credible among others which make fundraising or borrowing from external sources easier. The organization itself provides a number of ways to raise funds in the form of private equity, ESOP, and more.Show Less
Once the Company registration in India is done, a legal entity is born in eyes of law. This separates itself from its owners and managers. The company can operate on its own name simply by opening a bank account to own assets and enter into contract with parties. This also provides right to sue third parties in case of any defaults.Show Less
The company’s obligation or debts of does not create a charge over the owner’s personal assets. Their liability stays limited only to the capital subscribed and unpaid by them.Show Less
The separate ownership and management help both – the company and the management to focus on their potential works. The shareholders assign responsibility to operate and run the company without losing control in the form of voting.Show Less
PAN Card of shareholders and Directors
Foreign nationals must provide a valid passport.
Aadhaar card and Voter ID/ Passport/ Driving License of Shareholders and Directors
Latest Telephone Bill /Electricity Bill/ Bank Account Statement of Shareholders and Directors
Latest Passport size photograph of Shareholders and Directors.
Latest Electricity Bill/ Telephone Bill of the registered office address
No Objection Certificate to be obtained from the owner(s) of registered office
Rent Agreement of the registered office should be provided if any
In case of NRI or Foreign National, documents of director (s) must be notarized
Identification plays an important role in making a business outstand in competitive market, build a unique and distinctive name for your business hence enhance your brand’s trust and value. Consumers should identify activity of your business from the brand name so that they can relate your business with its offerings.
Even though it meets all the above criteria, once again make sure that the brand name to be short, easy to remember and simple to pronounce or spell.
Name of the company must end with “Private Limited” (Pvt.Ltd) as a suffix
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All it takes 10 to 16 working days*.
*Subjected to Government Processing Time.
