Convert a Private Limited Company to an OPC
A private limited company can convert itself into an OPC if it has a paid-up capital ofless than Rs. 50 lakh and an annual turnover of less than Rs. 2 crore.
PAN & TAN Registration
PAN & TAN Registration
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Why should you register your Company?
- Shields from personal liability and protects from other risks and losses.
- Attracts more customers
- Procures bank credits and good investment from reliable investors with ease.
- Offers liability protection to protect your company’s assets
- Greater capital contribution and greater stability
- Increases the potential to grow big and expand
- You will also get Zero Balance Current Account
Private Limited to One Person Company
Advantages of One Person Company
Limits Director’s Liability
Businesses often need to borrow money. In structures such as the Sole Proprietorship, proprietors are personally liable for all this debt. So if it cannot be repaid by the business, the proprietor would have to sell his/her car, house or jewellery to do so. In an OPC, only the amount invested in starting the business would be lost; all personal property would be safe.
If a promoter were to operate as a Sole Proprietorship, rather than an OPC, the business would come to an end on his/her death. As an OPC has a separate legal identity, it would pass on to the nominee director and, therefore, continue to exist.
An OPC can only have one director and shareholder, so annual filings are much reduced, as is work relating to share certificates and the statutory registers.
WHY START-UPS PREFER PRIVATE LIMITED COMPANY AS A BUSINESS FORM?
35 WORKING DAYS
Just tell us a little bit about your business and you’ll be running an OPC 35 working days later. During this time, we’ll complete all the formalities, from filing conversion forms to alteration of your Memorandum & Articles of Association.
9.1 CUSTOMER SCORE
We make your interaction with government as smooth as is possible by doing all the paperwork for you. We will also give you absolute clarity on the process to set realistic expectations.
160 STRONG TEAM
Our team of experienced business advisors are a phone call away, should you have any queries about the process. But we’ll try to ensure that your doubts are cleared before they even arise.