Conversion Of Private Limited Company To One Person Company
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Conversion Private Limited to One Person Company
A private limited company can be converted into a one person’s company (OPC). One Person Company is a business entity run by a sole owner with the benefit of limited liability. One Person Company is a separate legal entity from its members, offering protection to its shareholders. Every One Person Company must nominate a member for the Directorial position in the MOA/AOA, in case of absence of the prime Director. If it’s paid-up capital is Rs. Annual turnover of less than Rs 50 lakh and Rs 2 crore. An OPC also needs the nominee. The process time-consuming, as you cannot use the INC-29 process, but should be completed within 20-25 working days. As a change in our package, everything is included in the change of memorandum and filling the form for the change of association article.
What Is Included In Our Package?
- DSC & DIN for 1 Directors
- ROC Fees
- RUN (Reserve Unique Name)
- Company PAN & TAN
- MOA/AOA
- EPFO & ESIC Registration
- DSC & DIN for 1 Directors
- RUN (Reserve Unique Name)
- MOA/AOA
- ROC Fees
- Company PAN & TAN
- EPFO & ESIC Registration
Procedure For Conversion
Documents Required For OPC Registration
- Self attested copy of PAN Card of each director
- Self attested copy of Voter’s ID/Passport/Driver’s License/ Aadhaar Card of each director
- Self attested copy of Bank Statement of each director
- Passport-sized photograph of each director
- Self attested copy Mobile Bill/Electricity (Business Place in which registered office)
- Softcopy of Notarized Rental Agreement / Property Ownership proof
- Softcopy of Landlord NOC (Format will be provided)
- Softcopy of Sale Deed/Property Deed (in case of owned property)
Minimum Requirements for OPC Registration
- Minimum 1 Shareholder
- Director valid pan card
- Minimum 1 Director
- Only a natural person who is a citizen of India and resident in India.
- One Nominee
- Minimum 1 Shareholder
- Minimum 1 Director
- One Nominee
- Director valid pan card
- Only a natural person who is a citizen of India and resident in India.
Advantages Of One Person Company?
- Easily to register, manage & run.
- Uninterrupted Existence.
- Unaffected by death of member or change in ownership.
- Limited Liability.
- Borrowing capacity.
- Easily to dissolve or wind-up
- Separate Legal Entity.
- Only one member is required.
- Easily to register, manage & run.
- Limited Liability.
- Separate Legal Entity.
- Uninterrupted Existence.
- Borrowing capacity.
- Only one member is required.
- Unaffected by death of member or change in ownership.
- Easily to dissolve or wind-up
5 SIMPLE STEPS
to Start One Person Company in India
Frequently Asked Questions
– Only one people is allowed in an OPC. Additionally, you need to have a nominee.
– The person must be an Indian citizen and a Resident of India. However, the individual must 18+ above in terms of age and should have a valid PAN card.
– Yes, you can register your company at your residential address.
– Its take minimum 10 to 15 days or more depend on State ROC Department Procedure.
The entire procedure is 100% online and you don’t have to be present at our office or any other office for incorporation. A scanned copy of documents has to be sent via mail. They get the company incorporation certificate from MCA via courier at their business address.
Yes, company office address can be changed anytime after incorporation.
Firstly we just need to find a unique name as prefix and promoters need to provide name of the proposed One Person Company along with significance of word. Secondly the name needs to include a word about the One Person Company business activity. Finally before selecting Names it will be advisable to check on Google, MCA Portal, MCA Guidelines and Trade Mark site the availability of Name.
There is no difference in capital requirement between an OPC and a private limited company. It needs an authorised capital of Rs. 1 lakh to begin with, but none of this actually needs to be paid-up. This means that you don’t really need to invest any money into the business.
Yes, One Person Company will be formed as similar as a “Private Limited Company”. It can be formed as company limited by share capital or limited by guarantee or unlimited company. The words “One Person Company” will have to be mentioned in brackets below the name of such company, wherever its name is printed, engraved or affixed.
Only a natural person who is an Indian citizen and a resident in India is eligible to be a nominee member.
OPC is one of the easiest forms of corporate entities to manage. Very few ROC filing is to be filed with the Registrar of Companies (ROC). No need to conduct Annual General Meeting (AGM), so lesser compliance cost than a private limited company.
No, an NRI or Foreign National cannot be a shareholder for an OPC.
no one person company can convert Voluntary into any kind of company unless two years have expd from date of incorruption of OPC expect threshold limit (paid-up capital) is increase beyond 50lakhs or the annula tarou during the reverent period exceeds 2 crores.
{rules 3 (7) of the companies (incorpoints ) rules 2014}
Director Identification Number (DIN) is a unique identification number required for a person to become a director of a company. DIN is issued by ROC office (Ministry of Corporate Affairs).It is similar to a PAN Card number.DIN is to be mentioned in documents while appointing a person as a director of a company.
A digital signature is electronic signature, which is in the form of codes. It is used for signing the electronic forms, filed with ROC for incorporation of Company. Digital Signature cannot be used in physical documents.
MOA means Memorandum of Association and AOA means Articles of Association. These are the byelaws or rules based on which important matters like main business of the company or meetings is decided. These are standard legal documents prepared by Company Secretaries during registration of the Company.
– PAN is a Permanent Account Number (10-digit alphanumeric number), which is issued by the Income Tax Department in India. A PAN Card is used as a document of identity proof.
(TAN) is a Tax Deduction and Collection Account Number (10-digit alphanumeric number), issued to persons who are required to deduct or collect tax on payments made by them under the Indian Income Tax Act, 1961.
