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Business Conversion

Kickstart your dream business today.
To make a clear choice between different business structures, it is best for an entrepreneur to talk to a business consultant who will guide you on different business models which will help in incorporating the business in the right legal structure and cost effective manner.

Let our experts assist you in choosing the best structure for your dream business today!

Talk to a business consultant now!

secretarial compliance for private limited company

Want to know about India Company Incorporation?

We are India’s largest cloud-based business services platform dedicated to helping Entrepreneurs easily start & grow.

Benefits

Payout for
future exit

At the time of your retirement, you can sell your business and redeem its value.

Transferability of Ownership

Members are in a position to encash the shares at any time as they will.

Business
Continuity

In spite of any changes in members of the company, the company will be the same entity with the same privileges, immunities, estate, and possessions.

Ease in raising of funds

When a company is incorporated, it is considered more reliable; hence it shall be easy to obtain capital i.e. either equity or debt.

Flexibility and
Autonomy

The company has autonomy and independence to form its own policies and further, implement them. However, they are subject to the general principles of law, equity and a good conscience.

Capacity
to Sue

As a separate legal entity, an incorporated company has the right to sue other people in addition to companies. In turn, it can be sued by other companies and people.

Professional management

A company is capable of attracting professional managers. It is due to the fact that being attached to the management of the company gives them the status of business or executive class.

Our services

Proprietorship To Partnership

A sole proprietorship firm is a type of business entity that is owned, controlled and managed by a person (promoter). There is no legal difference between the business and its promoter. All profits are received by the promoter himself/herself. It is extremely easy to start such an entity as there are lesser legal formalities and lesser formation costs involved.
A partnership is a type of business organisation wherein two or more individuals come together and manage the business as per the terms and objectives set out in the Partnership Deed.

Private Limited Company To Public Limited Company​

Our experts at ICI can help you register under profession tax, prepare profession tax workings and file returns through our easy to follow virtual processes.

Partnership Firm To LLP

Our experts at ICI can help you register under profession tax, prepare profession tax workings and file returns through our easy to follow virtual processes.

FAQs

a. What are the benefits of starting a business in India?
  •  Access to 1.3 billion potential customers.
  •  Availability of cheap and skilled labour.
  •  Low paid-up capital requirements.
  •  Attractive tax incentives.
  •  Low operational costs.
  •  Business-friendly government’s initiatives.
b. Can a foreign resident/company start a business in India?

Yes but subject to conditions specified under different forms of business structure

c. Is business registration compulsory in India?

Yes, business registration is compulsory for all types of business entities except sole proprietorship and partnership firm for whom registration is not mandatory. However, it is advisable to register to avail legal advantage in the eyes of law in case of disputes.

d. What is the process to start a business in India?

The process to set up a business entity in India is generally the same, regardless of the specific entity structure you select. This process typically involves:

  • Selecting a unique trading name for the company.
  • Selecting an appropriate business structure.
  • Obtaining a Director Identification Number and Digital Signature Certificate.
  • Preparing registration documents.
  • Registering with the Registrar of Companies/Firms/Local bodies.
  • Registering for social security of employees and other business registrations like GST and Income Tax.
  • Opening a Bank A/c.
e. How can I be eligible to get benefits under the Startup India initiative?

Only the stated entities qualify as a “Startup” for the purpose of Government schemes:-

» Private Limited Company

» Registered Partnership Firm

» Limited Liability Partnership

Further conditions are:

1. Not more than 5 years have passed from the date of its incorporation/ registration.

2. Turnover for any of the financial years has not exceeded ₹ 25 crore.

3. It is working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property.

f. Is conversion from one business structure to another business structure allowed?

A Sole proprietorship can be converted into:-

  • Partnership firm
  •  One Person Company
  •  LLP
  • Private Limited company (By acquiring the Sole proprietorship firm)

A Partnership Firm can be converted into:-

  • LLP
  • Private Limited Company

One Person Company can be converted into:-

  •  Private Limited Company
  •  LLP

A Private Limited Company can be converted into:-

  • One Person Company
  • LLP
  • Public Limited Company
g. I want to start a business with my friend. Which type of business entity is best suited for me?

In case you are looking to raise equity capital or offer ESOP to your employees in the future, Private Limited Company will be the best suited entity for you. However, if you do not wish to raise equity capital or offer ESOP to the employees, you can opt for a Limited Liability Partnership or a simple Partnership depending on the financial liability or the nature of the business.

h. Still Confused?

Speak to our experts who shall solve all your doubts.
Call us at  +91 7738 066 334  or Mail us at info@indiacompanyincorporation.com

Company formation in India is easy.
We can help to build your business at every stage.

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