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Partnership to Private Limited Company

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Online Partnership to Private Limited Company Starts at Rs. 9887.00 / -
(Exclusive of all Expenses) Order Now

About Partnership to Private Limited Company

The major benefit of registering a private limited company is that it gives a status of a separate legal entity which a partnership firm does not have. In case of a partnership, a partner ’s personal assets are attached and they would be held personally responsible for each and every debt or liability that the business incurs. Hence, with the expansion of business, if partners want to increase its credibility and put limited liability on its members, it is more favorable for the partners to convert their partnership into a private limited company. Even though statutory compliance for a private limited company are higher than those of a partnership firm, it gives the company more opportunities to flourish and expand its reach.


Limited Liability of Owners

The liability of members/directors is limited to an extent of capital contribution agreed by the members of the company. The loss or debt of a company cannot be assigned to members even at liquidation. Further, one member is not held responsible for the actions of negligence or misconduct of any other member

Separate legal entity

A partnership is not a separate legal entity. If one of the partners dies or retires, or has to leave the firm, the partnership ceases to exist and so a new partnership has to be formed. But this is not the case of a private limited company. The private limited company is a separate legal entity hence it also provides the capacity to sue third parties.

Separation of Management and Ownership

The separate ownership and management help both to focus on their potential works. The shareholders assign responsibility to directors for operating and running the company without losing control in form of voting.

Raising Capital

Raising Capital is easier in the Pvt. Ltd. Company as it allows the members to participate without taking on any personal accountability; unlike the general partnership where all common partners have unrestrained liability. The organization itself provides a number of ways to raise funds in the form of private equity, ESOP, and more.

Minimum Requirements

Unique Name
Mainly it builds the company brand and preferably be a coined word

Business Object
Second part of name should suggest the business activity of the company

Constitution Type
Name of the company must end with “Private Ltd. Co.”

Documents Required

PAN Card of shareholders and Directors.

Foreign nationals may provide a passport.

Aadhar card, Voter ID/ Passport/ Driving License of Shareholders and Directors

Telephone Bill /Electricity Bill/ Latest Bank Account Statement of Shareholders and Directors

Latest Passport size photograph of Shareholders and Directors

Electricity Bill/ Telephone Bill of the registered office address

No Objection Certificate to be obtained from all the secured creditors of the applicant

Rent Agreement of the registered office should be provided, if any

A Copy of Partnership deed and Certificate of Registration duty verified by at least two partners of the general partnership.

A copy of latest income tax return filed by the Partnership firm

Frequently Asked Questions

For Private Company registration, the following requirements must be fulfilled:
Minimum 2 directors shall be appointed, out of which one must be a resident of India.
Minimum 7 shareholders are required for this registration. Here, an individual may become shareholder and director at the same time.
A place of business in India must be provided as a registered office address

While registration, minimum authorized capital of Rs.1 Lakh should be provided. The requirement of minimum paid-up capital is eliminated as a part of Government’s initiative to simplify business registration in India. However, each shareholder must subscribe at least 1 share for the registration and amount sufficient to run a business should be introduced.

Any person above the age of 18 years can become a director in the company after procuring Director Identification Number (DIN). As there are no criteria provided in terms of citizenship or residency, a foreign national can also become a director. The application of DIN Allotment is now merged with the application for the formation of a company subject to a limit of maximum 3 DIN.

A private limited company must hold a Board Meeting at least once in every 3 months. In addition to the Board Meetings, an Annual General Meeting must be held by the Private Limited Company at least once every year.

100% Foreign Direct Investment is allowed in India in many of the industries under the Automatic Route. Under the Automatic Route, only a post-investment filing is necessary with the RBI indicating the nature of investment made. There are a few industries that require prior approval from the RBI, and in such cases, approval must first be obtained from RBI prior to the investment.

There is no concept of a common seal in partnership. But a private limited company has a common seal which denotes the signature of the company and every company shall have its own common seal.

No Capital Gains tax or stamp duty shall be charged on transfer of property from Partnership firm to a Private Limited Company.

The accumulated loss and unabsorbed depreciation of Partnership firm are deemed to be loss/ depreciation of the successor company for the previous year in which conversion was effected. Thus, such a loss can be carried out for a further eight years in the hands of the successor company.


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