Conversion Company From One Person Company To Private Limited Company
Step 1
You sign up for our Conversion, and our financial & legal experts engage with you in order to collect the necessary information and work on the same
Step 2
Post consultations, our team shares a draft of required actions with you, preparing the necessary documentation such as the Board Resolutions
Step 3
Once the Resolutions are passed and all necessary documentation is compiled, our legal experts take care of the filing with the ROC
About Conversion Of Company
In India, the share transferability of a private limited company is limited to 50 shareholders, and they are restricted from freely trading their shares with the general public. However, a One Person Company is run by a sole owner, with the added benefit of limited liability to the said owner and other shareholders. The conversion of an OPC to a Private Limited Company is mandatory when the company’s paid-up share capital exceeds 50 lakhs or its average annual turnover over three years is equal to or exceeds 2 crores. Sign up for our Conversion from One Person Company to Private Company Service today, so that your company can transform itself into a Private Company without any regular hassles. With our team working for you, you can focus on the impending transition, and acquiring funding for the same.
Private Limited Company
- Minimum members-2
- Minimum Directors-2
- No requirement of appointing a nominee
- Foreigners may become members of a Private Limited Company
One Person Company
- Minimum members-1
- Minimum Directors-1
- A nominee must be appointed where there is only one member
- No Foreigners may become members of a One Person Company
- Altered memorandum and articles of association.
- Notice of Extra-Ordinary General Meeting (EGM) with the approval of Directors for the conversion of a One Person Company to a Private Limited Company.
- Special resolution for conversion of the company into a Private Limited Company.
- Form INC 6 – Application for the conversion of One Person Company to a Private Limited Company.
- Form MGT 14.
- Minutes of the Meeting where approval was given for conversion.
- In the event that the conversion is mandatory, form INC 5 may be required as well.
Step 1:
You sign up for our Convert a One Person Company to Private Limited Company service, and our financial & legal experts engage in consultations with you in order to collect the necessary information and work on the same
Step 2:
Post consultations, our team shares a draft of required actions with you, preparing the necessary documentation such as the Board Resolutions
Step 3:
Once the Resolutions are passed and all necessary documentation is compiled, our legal experts take care of the filing with the ROC
Frequently Asked Questions
Who Is Eligible To Act As A Member Of OPC?
Only a natural person who is an Indian citizen and resident in India shall be eligible to act as a member and nominee of an OPC.
A Person Can Be A Member In How Many OPC?
A person can be a member of only one OPC.
What Is The Condition Precedent For Conversion Of OPC Into Private Company?
In case of voluntary conversion:
(i) Expiry of two years after incorporation of OPC.
In case of mandatory conversion:
- When paid up share capital exceeds Rs. 50 lakhs and the yearly turnover of immediately previous three consecutive financial years is more than 2 Crores rupees.
Such company has to compulsorily convert to a private or public limited company within a period of 6 months from the date when the paid-up share capital exceeded 50 lakhs rupees or the last date of the related period in which the average annual turnover surpasses 2 Crore rupees.
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