Conversion of partnership firm into private limited company.

Conversion of Sole Proprietorship into a Pte Ltd company is not something like conversion to Partnership due to being a separate legal entity status to the Company. However, the owner is having limited choices to choose. The owner of the Sole Proprietorship firm can choose the same name to be applied with the proposed company by appealing with the authority ACRA. Once, the name appeal is approved then the owner would have the company name with his/her former Sole Proprietorship’s name.

Settling the sole proprietorship’s debts (if any) followed by conversion of the remaining assets into the capital of new company. By doing so, the former Sole Proprietorship will be mostly able to transfer the existing employees, contracts, businesses, etc to the newly incorporated company.