How to Convert a Partnership Firm into a Private Limited Company?

Would you like to convert a partnership firm into a private limited company? For many small and medium-sized firms, the partnership structure is limiting. When you convert to a private limited company, you can enjoy more freedom and control. This guide will take you through the process of converting a partnership firm into a private limited company. What is a Partnership Firm? A partnership firm is a business established by two or more people to manage a profitable enterprise. Such a group is referred to as a Partnership Firm, and each member is referred to as a partner. What is a Private Limited Company? A Private Limited Company is a commercial corporation that is privately owned. In a Private Limited Company, a partner’s liability is limited to the number of shares they hold. Shares in a Private Limited Company cannot be exchanged publicly. After completing the process of company registration online one must use "Private L...