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Convert Registered Partnership

To Private Limited Company

Convert your Registered Partnership into Private Limited Company. Register your Private Limited Company with Ebizfiling.com at INR 19,999/- only.

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Conversion of Registered Partnership to Private Limited Co.

All you need to know

A registered Partnership is a partnership firm registered under the Indian Partnership Act 1932. It is a business entity where two or more people come together to provide the requisite resources and share the profits in an agreed ratio.

 

A Private Limited Company is that type of company that offers Limited Liability or legal Protection to its shareholders. Private Limited Company in India lies somewhere in between a partnership firm and a widely owned public company. It can be registered with a minimum of two people. A person can be both a director and shareholder in a Private Limited Company. 

Conversion of Partnership firm in to Private Limited Company:

Transformation of Partnership firm into a Private Limited Company is a decent decision for the business person who wishes to develop micro, small and medium scale business to a large scale one for raising equity capital in the business. Owning a legal entity is the necessity of the hour. The whole world is progressively drifting towards one international market without any trade barricades between the countries worldwide.

Conditions to fulfill for conversion of registered partnership to Private Limited Company:

  • Registered Partnership firm with minimum two or more Partners
  • There must be provision in the Partnership deed for converting the firm into Company
  • There must be an agreement between the partners to convert the firm into Company
  • If the above requirement is not fulfilled by the firm, then the Partnership deed should be altered
  • Minimum 2 Shareholders and Directors. However, directors and shareholders can be the same person
  • All the assets and liabilities of the firm immediately before the conversion become the assets and liabilities of the company.

Why should you choose Ebizfiling for conversion of registered Partnership to Private Limited Company?

EbizFiling.com is an eminent business platform and a progressive concept, which helps end-to-end incorporation, compliance, advisory and management consultancy services to clients in India and abroad. Incorporating a Private Limited Company is easy, seamless, cheaper and quickest with EbizFiling.com! Apart from an Pvt Ltd Co. EbizFiling.com also helps entrepreneurs with One Person Company Registration, Public Limited Company Registration, Partnership Registration, HUF, Limited Liability Partnership and Proprietorship Firm Registration easily. You may get in touch with us on 09643203209 or email info@ebizfiling.com for free advisory on all the services.

Cost of conversion of Registered Partnership in to Private Limited Company

Choose your Package

ESSENTIAL

₹ 19999/-

(All Inclusive)

  • Name Approval
  • Preparation of documents for conversion
  • Application for conversion from Partnership to Private Limited Company
  • New Certificate of Incorporation
  • MOA and AOA
  • PAN
  • TAN
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Advantages of conversion of Registered Partnership firm in to Private Limited Company

Points to make your decision easy

  • No Stamp Duty: All movable and immovable properties of the firm automatically vest in the Company. No instrument of transfer is required to be executed and hence no stamp duty is required to be paid.
  • No Capital Gain Tax: No Capital Gains tax shall be charged on transfer of property from Proprietorship firm to Company.
  • Continuation of Brand Value: The goodwill of the Proprietorship firm and its brand value is kept intact and continues to enjoy the previous success story with a better legal recognition.
  • Separate Legal Entity: In the eyes of the law, a private limited company business is a separate entity to its owner.
  • Limited Liability: A private company offers limited liability to the business owner.
  • Limited risk: There is a limited risk to personal assets in Private Limited Company.
  • Legal Entity: A company as a legal entity is capable of owning its funds and other properties.
  • Perpetual succession: A company has ‘perpetual succession’, that is continued or uninterrupted existence until it is legally dissolved.
  • Transferable shares: Shares of a company limited by shares are transferable by a shareholder to any other person.

Suggested read: Advantages and Disadvantages of Private Limited Company

Documents required for conversion of a registered Partnership firm to a Private Limited Company

Quick Checklist

  • PAN Card of shareholders and directors. Foreign nationals may provide a passport
  • Copy of PAN/GST registrations of the Partnership firm
  • Aadhar card, Voter ID/ Passport/ Driving License of Shareholders and Directors
  • Telephone Bill /Electricity Bill/ Latest Bank Account Statement of Shareholders and Directors
  • No Objection Certificate to be obtained from all the secured creditors of the applicant
  • Written consent or no objection declaration from partners of the firm
  • A Copy of Partnership deed and Certificate of Registration duly verified by at least two partners of the general partnership
  • Amended Partnership deed (After inclusion of a provision of conversion in the deed)

How to convert a registered Partnership firm to Private Limited Company

 

Process flow in 5 steps

1

Fill in the simple checklist

2

Obtain DSC / DIN

3

Filing of name approval

4

Advertisement in the newspapers

5

Certificate of Incorporation

Fill in the Simple Checklist

Private limited registration

Our Compliance Manager will get in touch with you to obtain your documents along with a simple checklist. You need to fill up the checklist and submit along with the documents for processing. Our expert team will verify documents and proceed with the conversion of Registered Partnership firm to Private Limited Company formalities. Throughout the process, a dedicated Compliance Manager will keep you updated on the progress of the conversion to Pvt. Ltd. Co.

Reservation of Company name

Private limited registration

Once we verify the documents, we will proceed with the name application of the company. We will file an application with the Registrar of Companies (ROC) to obtain the name for the proposed company after conversion. Then we will file form URC – 2 to give advertisement about the conversion of Partnership firm to any popular daily newspaper to be published in the English language and the vernacular language and Form URC -1 to be filed with ROC specifying all details of partners.

Certificate of Incorporation

Private limited registration

After obtaining the name approval and form URC 1, we will draft an Memorandum of Association and Articles Of Association for the company, and other relevant documents to be filled with ROC for the approval of conversion of Partnership firm in to Private Limited Company. along with all the necessary attachments which specifies the fact of conversion. The Registrar of the Companies on being satisfied on compliance shall issue a Certificate of Incorporation.

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FAQs on Conversion of the Partnership firm in to Private Limited Company

Get answers to all your queries

  • What are the minimum requirements to convert a partnership into Private Limited Company?

    For Private Company registration, the following requirements must be fulfilled:

    1. Minimum 2 directors shall be appointed, out of which one must be a resident of India.
    2. Minimum 2 shareholders are required for this registration. Here, an individual may become shareholder and director simultaneously.
    3. A place of business in India must be provided as a registered office address

  • What are the statutory compliance needed for a Private Limited Company?

    A private limited company should call a Board Meeting at least once in every 3 months. Besides, Board Meetings and an Annual General Meeting must be organized by the Private Limited Company once in every year.

  • Whether there is need to file any separate form for PAN & TAN?

    No need to file any separate form. Details in relation to Area Code and other details shall be mention in the form SPICe + itself and PAN & TAN shall be generating with Certificate of Incorporation

  • Is capital gain or stamp duty chargeable on conversion?

    Capital gains or stamp duty is not chargeable while transferring property from Partnership firm to a Private Limited Company.

  • Whether certificate of registration issued by the Registrar of Firms is Mandatory?

    Certificate is mandatory only in case when the firm is registered with Registrar. In other cases there is no need to attached certificate.

  • Have some queries?

    Our expert will help you in choosing the best suitable plan for you. Get in touch with our team to get all your queries resolved. Write to us at info@ebizfiling.com or call us @+91 9643 203 209.

Conversion From Registered Partnership To Private Limited Company

Convert your Registered Partnership into Private Limited Company. Register your Private Limited Company with Ebizfiling.com at INR 19,999/- only.

Easy EMI'sTransparent Pricing

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