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All about OPC to Private Limited Company
All you need to know
One Person Company:
One Person Company means a Company which has only one person as its member. An OPC is effectively a company that has only one shareholder as its member.
Private Limited Company:
A private Limited Company is the form of the company where minimum two members are required and maximum number of members can be 200. The liability of the members of a Private Limited Company is limited to the amount of shares held by them.
A Private Limited Company is that type of company that offers Limited Liability or legal Protection to its shareholder. Private Limited Company in India lies somewhere in between a partnership firm and a widely owned public company. It can be registered with a minimum two people. A person can be both a director and shareholder in a Private Limited Company.
Know More: Conversion of OPC to Private Limited Company
Types of conversion of OPC to Private Limited Company:
Voluntary Conversion
According to voluntary conversion method :
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The condition is that the OPC cannot be converted into a private limited company until the end of 2 years from the date of incorporation as an OPC.
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An application should be filed in Form INC-6.
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The number of shareholders and directors must be enhanced to the essential limit.
Compulsory Conversion
Under compulsory conversion method :
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Provision for Compulsory conversion of OPCs upon exceeding the minimum paid-up capital and average annual turnover was repealed in the Budget 2021-22. Previously as per the OPC provision If the paid-up capital of an OPC company exceeds INR 50 lakhs and the average annual turnover of the previous three years exceeds INR 2 crores, the company must be converted, but now it is not mandatory for OPC.
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Notice of conversion in Form INC-5
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Application should be filed in Form INC -6
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The number of shareholders and directors should be increased to the requisite limit
The liability of the members in a Private Limited Company is limited to the number of shares held by them. A private Limited company in India can start its business after getting the certificate of incorporation. It can be incorporated within 5-6 working days.
Why to choose Ebizfiling as your service provider?
EbizFiling.com is an eminent business platform and a progressive concept, which helps end-to-end incorporation, compliance, advisory and management consultancy services to clients in India and abroad. Incorporating a Private Limited Company is easy, seamless, cheapest and quickest with EbizFiling.com! Apart from a Private Limited Company, EbizFiling.com also helps entrepreneurs with Public Limited Company Registration, Partnership Registration, HUF, LLP Incorporation and One Person Company registration easily. You may get in touch with us for free advisory on all the services.
Simple Prices No Surprises
Best alternatives you get
ESSENTIAL
₹ 14999/-
(All Inclusive)
- DIN
- DSC
- Preparation of documents for conversion
- Application for conversion
- New Certificate of Incorporation
- Change in MOA & AOA
- Change in PAN+TAN
- Document preparation for Appointment of Director
- Form DIR 12 Filing
- Special Resolution for MGT 14
- MGT 14 filing
- INC 6 Filing
Reasons to Form a OPC to Private Limited Company
Points to make your decision easy
No Minimum Capital
No minimum capital is required to form a Private Limited Company. A Private Limited Company can be registered even with Rs. 10,000 as total Authorized Share capital of the company.
Separate Legal Entity
Private Limited enjoys the benefit of Separate Legal Identity in the eyes of law which clearly states that assets and liabilities of the business are not the assets and liabilities of the Directors.
Limited Liability
It means that if the company go though some financial distress because of business activity, the personal assets of members will not be used to pay the debts of the Company.
Fund Raising Capacity
Private Limited Company in India is in existence for a long time and actually enjoys widespread acceptance across the world. It is the only form of business other than public limited company to raise fund from the Venture Capitalist or Angel investors.
FDI Allowed
Private Limited Companies and other Limited Companies are those entities that allow for Foreign Direct Investment up 100 %. It means any foreign entity or foreging person can directly invest in a Private Limited Company.
Builds Credibility
All the information relating to the company such as name, incorporation date, address are made available in a public database. This feature makes it easy to authenticate the existence of the business that ultimately helps in improving business credibility.
Documents required for conversion of OPC to Private Limited Company
Quick Checklist
- Directors declaration by way of affidavit duly sworn in confirmation that all members and creditors of the company have given their permission for conversion.
- List of members
- List of creditors
- No objection / Consent of all the creditors
- Most recent Audited Balance Sheet and the Profit and Loss Account
- Copy of Board Resolution and the special resolution passed at the EGM, along with its notices, agenda and explanatory statement
- Altered copy of MOA and AOA, Incorporating relevant clauses which are necessary for OPC
How to Incorporate OPC to Private Limited Company
5 Easy Steps
1
Fill in a simple checklist
2
Submit you documents
3
Verification of documents
4
Filing of Form INC 6
5
Fresh Certificate of Incorporation
Fill a Simple Checklist
Our Compliance Manager will get in touch with you to obtain your documents along with a simple checklist. You need to fill up the checklist and submit along with the documents for the processing. Our expert team will verify documents and proceed with the conversion of OPC to Private Limited Company formalities. Throughout the process, a dedicated Compliance Manager will keep you updated on the progress of the conversion to Private Limited Company.
Name Approval
Apart from the Documents provided by you, there are some other documents that would be prepared by us such as Statement of Assets and liabilities, Certificate of CA/CS etc. We will prepare all the necessary documents and we will also prepare and file the Form INC 6 for the conversion of One Person Company to Private Limited Company with prescribed fees. This form will be proceeded by the office of the Regional Director and proceed with the final filing process.
Company Registration
Once we prepare and file the Form INC 6 for the conversion, Concerned Registrar of Companies (ROC) will check the forms and attached documents filed by the Company for Conversion of One Person Company (OPC) into Private limited Company. On being satisfied that Company has complied with prescribed requirements the Registrar of Companies (ROC) shall issue the Certificate to the effect of Conversion of One Person Company (OPC) into Private limited Company.
FAQs on Conversion from OPC to Private Limited Company
Get answers to all your queries
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How many directors are required in a private limited company?
A private limited company must have a minimum of two Directors and can have up to a maximum of fifteen Directors. But if you are a sole owner, you can incorporate One Person Company also.
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How long will it take to incorporate a Company in India?
It generally takes 8-10 working days to register Private Limited Company in India. The time taken for registration totally depends on submission of relevant documents by the client and speed of Government Approvals. To ensure quick and speedy registration, please choose a unique name for your Company and ensure you have all the required documents prior to starting the registration process.
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What do you mean by Digital Signature Certificate (DSC)?
The Ministry of Corporate Affairs (MCA) mandates that the Directors sign some of the application documents using their Digital Signature. Hence, a Digital Signature is required for all Directors of a proposed Company. Digital Signature application is to be filed to obtain DSC.
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Can a Foreign National or an NRI be a Director in a Private Limited Company?
Yes, a Foreign National or an NRI can become a Director in a Private Limited Company in India after obtaining Director Identification Number (DIN). However it may be noted that at least one Director on the Board of Directors must be a Resident India.
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Can a Foreign Parent Company incorporate a Subsidiary in India?
Yes, Foreign or holding Companies can incorporate a wholly owned subsidiary in India, as a 100% owned Private Limited Company subject to Foreign Direct Investment (FDI) Guidelines.
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In Which Cities do you provide your services?
Ebizfiling.com provides Private Limited Company registration all across India. You can obtain Private Limited Company registration in Ahmedabad, Mumbai, Pune, Bangalore, Chennai, Delhi, Kolkata, Kanpur, Nagpur, Jaipur or any other cities easily with us.
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Still have confusion?
Don’t worry!! Our expert will help you to choose best suitable plan for you. Get in touch with our team to get all your queries resolved. Write us on info@ebizfiling.com or call us @+91 9643 203 209.
