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OPC to Private Limited Company

An OPC is the most current type of business in India proposed by the Companies Act, 2013 and comprehend for a-One Person Company. A groundbreaking thought was dispatched which advances the consolidation of miniature organizations and people with innovative thoughts and to give a lift to business visionaries who can start their endeavor by allowing them to assemble a solitary individual organization. You can undoubtedly enroll one individual organization under the diagrams of the organization's Act 2013 and the laws thereto, where it was made feasible for a solitary individual organization to function as an organization without the intricacy of having accomplices. This urges more individuals to approach to initiate a business. The OPC is good for private ventures where the turnover isn't probably going to cross Rs. 2 Crores. IN OPC Registration it's critical to take note that the chosen one or the chief ought to be an Indian Resident.

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all you need to know
OPC to Private Limited Company

Simpler to Raise Funds

Raising assets as a private restricted organization is a nearly simple assignment as it gives a chance for raising offers and has numerous approaches to bring assets up in the type of private value, ESOP, and the sky is the limit from there.

Restricted Liability of Owners

The commitment or obligations of the organization doesn't make a charge over the proprietor's very own resources. Their responsibility is restricted uniquely to the bought-in capital neglected by them.

Taxation Benefits

One Person Company isn't perceived under the Income Tax Act and consequently, it has been placed in a similar class as different organizations for tax collection reasons. Privately owned businesses have been set under the expense section of 30% on all-out pay. In this manner, from the viewpoint of tax collection, the idea of One Person Company turns into a less productive idea as it forces a hefty monetary burden.

Separate Legal Existence

A Private Limited Company is enrolled, a lawful substance is brought into the world in eyes of law, which is independent of its proprietors and supervisors. The organization can work in its own name from opening a financial balance to possess resources and go into an agreement with parties. This additionally gives the ability to sue outsiders.

document required
OPC to Private Limited Company

1

Identity Proof

Voter ID/ Passport/ Driving License of Shareholders and Directors

2

PAN Card

PAN Card of shareholders and Directors. Foreign nationals must provide a passport.

3

Address Proof

Telephone Bill /Electricity Bill/ Latest Bank Account Statement of Shareholders and Directors

4

Photograph

Latest Passport size photograph of Shareholders and Directors

5

NRI

In the case of NRI or Foreign National, documents of the partner must be notarized or apostilled

6

Financial Statements

Duly certified copy of latest audited Finacial Statements

7

Incorporation documents of the OPC

Certificate of Incorporation, MoA & AoA to be provided

steps involved in
OPC to Private Limited Company

Step 1 1-2 Days
  • Consultancy and help for transformation
  • The assortment of essential data and records
  • Utilization of DSC of the new director
Step 2 3-8 Days
  • Drafting of vital goals
  • Drafting of other required reports and testimony
  • Modification of MoA and AoA
  • Give required archives drafted after the mark
Step 3 9-18 Days
  • Internet documenting of structure for modification in MoA and AOA
  • Government preparing time to favor the application
Step 4 18-20 Days
  • Online filing of form INC – 6 for voluntary conversion

Frequently Asked Questions
OPC to Private Limited Company

Regardless of whether the OPC can willfully continue for its transformation?

Indeed, OPC may deliberately change over itself into a Private Company or Public Company subject to certain condition. The OPC may apply for willful change just if a time of two years has been passed since its consolidation.

Will an OPC be changed over or fused as a non benefit association?

NO, an OPC can't be fused as or changed over into an organization for non-benefit, magnanimous reason, and it can't complete non-banking, monetary, or venture exercises remembering speculation for protections of any corporate body.

What is the impact after transformation of OPC to a private restricted organization on the liabilities of the past organization?

After the change, the liabilities, obligations, or commitment of the organization will not be influenced at all. Thus, the organization will be responsible for all its past commitments.

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OPC to Private Limited Company