OPC To Private Limited Company
A one-person company is one in which just one individual is a member. An OPC is essentially a firm with only one stakeholder as a shareholder.
A private limited company is a type of business with a minimum of two members and a maximum of 200. A Private Restricted Company’s members’ liability is limited to the number of shares they own.
Process of Conversion of OPC
To convert an OPC into a private limited company, the following requirements must be met
1.ROC is being notified
The OPC is now necessary for changing itself into a private limited company, and the related Registrar of Companies (ROC) shall be notified using the approved procedure.
2.Resolutions of the Board of Directors are passed
The OPC should organise a general meeting to pass a resolution appointing directors and members to meet the private limited company’s standards. At least two members and two directors are required to convert an OPC to a private limited company.
A board resolution should also be passed to approve changes to the OPC’s Memorandum of Association (MOA) and Articles of Association (AOA).
Documents Required for OPC to Private Limited Company
- MOA and AOA have changed.
- Copy of high-resolution image
- The proposed members’ and directors’ list, as well as their permission
- Creditors’ list
- The most recent balance sheet and profit and loss account have been audited.
- With the application for conversion, include a copy of each creditor’s NOC.
- The nominee’s consent
- a copy of the nominee’s and member’s PAN cards
- Proof of the nominee’s and member’s identities
- Proof of the nominee’s and member’s residence.
Similarities Between OPC and Private Limited Company
1.Separate legal entities
They both have their own legal entities. That means OPC, or Private Limited Company, is considered differently by the law.
2.Tax advantages
Both forms of business structures have tax advantages. Profits would be taxed at a rate of 25 percent.
3.Limited Liability
The sole owner of an OPC and the shareholders of a Pvt. Ltd. Co. are only liable to the extent of their shares.
4.Registration Process
The Ministry of Corporate Affairs requires both firms to be registered.
OUR PRICING PLANS
Standard
₹ 14,999
- complete company incorporation
- Certificate of incorporation (COI)
- Permanent account number (PAN)
- tax deduction account number (TAN)
- director identification number (DIN)
- digital signature certificate (DSC)
- memorandum of association (MOA)
Gold
₹ 16,999
- complete company incorporation
- Certificate of incorporation (COI)
- Permanent account number (PAN)
- tax deduction account number (TAN)
- director identification number (DIN)
- digital signature certificate (DSC)
- memorandum of association (MOA)
- articles of association (AOA)
- Bank account opening
- GST registration
- MSME / UDYAM registration
Platinum
₹ 19,999
- complete company incorporation
- Certificate of incorporation (COI)
- Permanent account number (PAN)
- tax deduction account number (TAN)
- director identification number (DIN)
- digital signature certificate (DSC)
- memorandum of association (MOA)
- articles of association (AOA)
- Bank account opening
- GST registration
- MSME / UDYAM registration
- Share certificate issue
- company commencement form filling