Starting a business with a Limited Liability Partnership (LLP) is a good idea. The next stages is when you what to convert Limited Liability Partnership (LLP) to a Private Limited Company for more growth in business or maybe for Funds Raising. It is possible to convert Limited Liability Partnership into a Private Limited Company in Indian in accordance to section 366 of the Companies Act, 2013 & Company (Authorized to Register) Rules, 2014. There are many requirements which are necessary for converting an Private Limited Company into a Private Limited Company. Few steps involved to perform such as :
1- Shields personal assets from business liability, limits liabilities of Directors.
2- The Private Limited Company (Pvt. Ltd) continues to exist even after the death of the Shareholders
3- Open doors to raise capital from a venture capitalist, angel investor, financial institutions etc.
4- Creates brand value as private limited structure is more transparent compared to other business structures.
5- Ownership gets transferred by just transferring shares.
6- Private Limited Company being a unique identity, can own/acquire and alienate, property in its name. Property owned could be anything like copyrights, patents, machinery, building, intangible assets, land, residential property, factory etc.
It’s easy for private limited company to get funding or borrow capital from angle investors / venture capitalists / banks / Financial Institutes in comparison to other company types.
Step 1: Contact Corpseed team, provide the necessary documents to initiate the conversion process.
Step 2: We will assign a dedicated and skilled resource to process your request for conversion.
Step 3: Apply for Company Name Reservation
Step 4: Draft Articles of Association and Memorandum of Association
Step 5: Apply for Company PAN
Step 6: Apply for Company TAN
Step 7: Apply for Corporate Identification Number (CIN)
Step 8: We will apply for Incorporation certification.
Step 9: Once your Private Limited is incorporated, we will send you all the documents.
Note: Whole conversion process takes between 25-30 days and also depends upon documents provided by applicant and approval speed by the government
Voter's ID/Aadhar Card/Passport/Driver's License
Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
Scanned copy of Rent agreement with NOC from the owner
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