Anyone can choose a Private limited company to build a scalable business. It’s the most famous legal structure for business. There is limited liability for all the directors, in case of bankruptcy, banks/creditors can sell only company assets but not the personal assets of directors. Due to its openness to all market scenarios, Private limited structure is very famous for small, medium and Large businesses in India. This structure Is very flexible to external funding and investment. Stock option to employees is also possible through private limited structure. A Private limited company has more credibility as compared to other incorporation structures
If you want to limit your responsibilities, planning to get external funds /investment and want to be more credible in the market, then Private Limited Company (Pvt. Ltd) might be the best option to go with.
Step 1: Connect to Corpseed
Step 2: Provide necessary documents required for converting Partnership to Private Limited Company
Step 3: Our expert CS will help you to convert your Partnership to a Private limited company
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 a Shareholder
3. Open doors to raise capital from a venture capitalist, angel investor, financial institutions etc
4. Creates brand value as a Private Limited structure is more transparent compared to other business structures
5. Ownership gets transferred by just transferring shares
6. Private Limited Company is a unique identity and can own/acquire and alienate, property in its name. Property owned could be anything like Copyrights, Patents, Trademarks, Building, Intangible Assets, Land, Residential property, Factory etc
1. All the assets and the liability of the partnership becomes the assets and the liability of the newly formed private limited company
2. The partners receive consideration only by way of allotment of shares in the company and the partners share-holding in the company in aggregate is 50% or more of its total voting power and continue to be as such for 5 years from the date of conversion
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 Your DSC & DPIN
Step 4: Apply for Company Name Reservation
Step 5: Draft Articles of Association and Memorandum of Association
Step 6: Apply for Company PAN
Step 7: Apply for Corporate Identification Number (CIN)
Step 8: Apply for Incorporation certification.
Step 9: Once your Private Limited is incorporated, we will send you all the documents and DSC’s.
Note: - Whole conversion process takes between 25-30 days and also depends upon documents provided by applicant and approval speed by the government
1. PAN Card
2. Voter's ID/Aadhar Card/Passport/Driver's License
3. Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
4. Passport-sized photograph
5. Specimen signature (blank document with signature [partners only])
1. Registered Partnership firm with seven minimum Partners
2. Minimum 2 Directors for conversion to Private Limited Company
3. The directors and shareholders can be the same person
As per industry standards, it’s up to 15 business days but being expert in the industry, we complete the process within 7 -10 business days, unless something serious strikes in between the process
Minimum of two designated Directors
A registration certificate issued by the registrar of the Company is valid till you are meeting applicable rules & compliances.
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