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A private limited company is a type of business structure that offers limited liability protection to its shareholders while allowing for easier capital raising and operational flexibility.
Incorporating a private limited company involves registering with the Registrar of Companies, obtaining a Certificate of Incorporation, drafting Articles of Association, and appointing directors and shareholders.
Benefits include limited liability protection, separate legal entity status, easier access to funding, tax advantages, credibility in the market, and operational flexibility for growth and expansion.
Compliance includes maintaining statutory registers, filing annual financial statements and tax returns, conducting board meetings, adhering to corporate governance norms, and complying with industry-specific regulations.
Yes, you can convert a partnership firm or LLP into a private limited company through a process called conversion. It involves meeting specific criteria, obtaining approvals, and updating legal documents.
