Hi,
Can someone guide me on the procedure that needs to be followed to convert a proprietorship firm into a Pvt Ltd Company? Also, what are the eligibility clauses? Like if there is any fixed turnover, an amount to be paid for the transfer, etc.
To give a brief overview, this firm is into Recruitment and Consulting.
Awaiting advice.
Regards
From India, Pune
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Can someone guide me on the procedure that needs to be followed to convert a proprietorship firm into a Pvt Ltd Company? Also, what are the eligibility clauses? Like if there is any fixed turnover, an amount to be paid for the transfer, etc.
To give a brief overview, this firm is into Recruitment and Consulting.
Awaiting advice.
Regards
From India, Pune
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Theoretically, it is simple to register a private limited company in India. One should approach the jurisdictional Registrar of Companies to seek the proposed name availability. Prepare the required documents (such as Memorandum & Articles of Association, Form 18, statutory declaration for compliances, certification, stamping, etc.) and apply for registration of the company with the prescribed fee - based on your proposed authorized capital and applicable Forms filing fees with the said ROC. After scrutiny of the documents filed and ensuring compliances, the ROC office would issue a certificate of incorporation, and your private limited company would stand registered. The fee for registration depends on the authorized capital of the proposed company and filing of required forms.
For a practical approach to register a company, avail the services of a Practising Company Secretary who will charge you a fee, depending upon the quantity and quality of work you want.
From India, Indore
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184For a practical approach to register a company, avail the services of a Practising Company Secretary who will charge you a fee, depending upon the quantity and quality of work you want.
From India, Indore
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Can someone guide me, with the procedure that needs to be followed to convert a proprietorship firm into a Pvt Ltd Company.
From Brunei Darussalam, Bandar Seri Begawan
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From Brunei Darussalam, Bandar Seri Begawan
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Can u mail me all document/form to be filled to convert a prop. company into a pvt. ltd comany ?
From Brunei Darussalam, Bandar Seri Begawan
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From Brunei Darussalam, Bandar Seri Begawan
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can i mail me the all forms to be filled to convert a prop. company into a pvt. ltd. company.
From Brunei Darussalam, Bandar Seri Begawan
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From Brunei Darussalam, Bandar Seri Begawan
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Converting a Proprietorship Firm into a Private Limited Company
Turning a proprietorship firm into a private limited company is not so tough, actually. You can simply contact a good Chartered Accountant and discuss your business activities. Finalize the company name; if you wish to continue with the older name, that would be much better. Your TIN/VAT/C.S.T. certificate will be validated and will remain as legal evidence for your sales and purchase activities in the state/local sales tax, central sales tax, or excise department.
If the proprietor wants to remain as the only director in the new company, then it is okay. Otherwise, they may add some directors from the company/family by declaring their profiles, shares, percentage, etc. These things are all handled by the Chartered Accountant. The Memorandum of Association (MOA) and Registrar of Companies (ROC) will be provided by the Chartered Accountant and issued by the government.
Stamps will be changed; instead of using the proprietor's stamp, you will be using directors' stamps on documents and bank accounts. Monthly Review Minutes (MRM) have to be decided for the company's agenda, etc.
Regards,
Manish Srivastava
From India, Lucknow
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Turning a proprietorship firm into a private limited company is not so tough, actually. You can simply contact a good Chartered Accountant and discuss your business activities. Finalize the company name; if you wish to continue with the older name, that would be much better. Your TIN/VAT/C.S.T. certificate will be validated and will remain as legal evidence for your sales and purchase activities in the state/local sales tax, central sales tax, or excise department.
If the proprietor wants to remain as the only director in the new company, then it is okay. Otherwise, they may add some directors from the company/family by declaring their profiles, shares, percentage, etc. These things are all handled by the Chartered Accountant. The Memorandum of Association (MOA) and Registrar of Companies (ROC) will be provided by the Chartered Accountant and issued by the government.
Stamps will be changed; instead of using the proprietor's stamp, you will be using directors' stamps on documents and bank accounts. Monthly Review Minutes (MRM) have to be decided for the company's agenda, etc.
Regards,
Manish Srivastava
From India, Lucknow
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Converting a Proprietorship Firm to a Pvt. Ltd Company
As I do not know your business trade, if a proprietorship firm is willing to convert into a Pvt. Ltd company, you have to contact a Chartered Accountant (CA) to discuss the matter. Depending on your business, trade, and activities, the CA will apply to the Ministry of Corporate Affairs (MCA), the ultimate government body of India, to incorporate such companies. Any private Ltd company falls under the Companies Act of 1956.
Requirements for a Pvt. Ltd Company
A major requirement to become a Pvt. Ltd company is that there must be a minimum of 2 directors. In a proprietorship firm, you are the sole person dealing with the business in government records. If you can email me your trade or nature of business, I may be able to provide more information.
To convert any firm into a Pvt. Ltd company, you can consult with a CA.
Regards,
Manish Srivastava
From India, Lucknow
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As I do not know your business trade, if a proprietorship firm is willing to convert into a Pvt. Ltd company, you have to contact a Chartered Accountant (CA) to discuss the matter. Depending on your business, trade, and activities, the CA will apply to the Ministry of Corporate Affairs (MCA), the ultimate government body of India, to incorporate such companies. Any private Ltd company falls under the Companies Act of 1956.
Requirements for a Pvt. Ltd Company
A major requirement to become a Pvt. Ltd company is that there must be a minimum of 2 directors. In a proprietorship firm, you are the sole person dealing with the business in government records. If you can email me your trade or nature of business, I may be able to provide more information.
To convert any firm into a Pvt. Ltd company, you can consult with a CA.
Regards,
Manish Srivastava
From India, Lucknow
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Anyone can help me in preparing the document while transferring all employees from a sole proprietorship to a Pvt Ltd company (one entity to a different entity)? Is there any specific letter format to follow?
Thanks in advance.
From India, Bhubaneswar
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Thanks in advance.
From India, Bhubaneswar
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Procedure-of-Re gistration-of-N ew-Pvt-Ltd-Comp any[1].pdf