A sole proprietorship is a type of unregistered business entity that is owned, managed and controlled by one person, easy to start. However, after the startup phase, proprietorship's do not offer the promoter a host of benefits such as limited liability proprietorship, corporate status, separate legal entity, independent existence, transferability, perpetual existence - which are desirable features for any business. Therefore, transferring the business to a private limited company would bethe best option and Legaltree make it easy now. All you need to do is go ahead and start a private limited company and submit an agreement between the sole proprietor and the private limited company, declaring that all the assets are to be transferred to the latter.
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