Convert a Proprietorship Firm to a Private Limited Company

Convert a Proprietorship Firm to a Private Limited Company

Sole-Proprietorship does not have a strong business identity of its own, apart from Service tax registration, which is the only proof of the existence of a Proprietorship company. Hence, it is easy to convert a Sole Proprietorship into a Private Limited Company. An agreement between the two has to be made wherein it is stated that the assets are transferred from the Proprietorship Company to a Private Limited Company.