Private Limited to One Person Company
As per Companies Act 2013, a private limited company other than a company registered under Section 8 of the Act, having paid up share capital of Rs 50 Lacs or less and average annual turnover during the period is 2 crores or less can convert itself into a one-person company (OPC) A Special resolution is required to pass in general meeting of members and also Non objection certificate from members and creditors. An OPC also need a nominee. The procedure is time-consuming, as you cannot use the INC-29 procedure. There is requirement of conversion to the alteration of your Memorandum of Association and Articles of Association of company
Why choose us?
No hidden cost
We will provide you all our services with predefine price. No extra cost will be charge. We provide you fast services with economical cost.
Promise of quality and commitment
We assure you to provide quality of service and commitment to our service. We take all your responsibilities related to government regulations and will fulfill all compliances and paperwork on your behalf.
Team of professionals and experienced legal advisors
We are providing you a good team of professionals such as CA, CS and various experienced legal advisors who will clarify all your doubts related to service and provide you all legal guidance.
We provide you 24*7 supports to handle your all queries and doubts.
Advantages of One Person Company
Liability of director is limited
In case of OPC, there is loss or debts in business then the director’s personal property is always safe only amount invested in commencement of business is lost. But in case of Sole Proprietorship and private limited company, directors are personally liable for all debts of company.
In case of death of director, OPC still remain in existence as it has separate legal entity, which would further pass on to nominee director. But in case of Sole proprietorship , business will come to end in case of death of directors.
As OPC have only one director and shareholder, so all annual filings and other government formalities such as share certificate and statutory registers are much reduced.