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What is OPC in India?
An OPC (One Person Company) is a company registered under the Companies Act with only one member and a nominee, enjoying limited liability.
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Why should I convert my sole proprietorship to OPC?
Conversion ensures limited liability, separate legal entity, better credibility, and easier compliance compared to a proprietorship.
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How much does OPC conversion cost?
Conversion packages start from ₹7,399, depending on the inclusions and documentation required.
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How long does the conversion process take?
Typically, it takes 15–30 working days, depending on the MCA approval timeline and completeness of documents.
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Is a nominee mandatory for OPC?
Yes, every OPC requires a nominee who takes over in case the sole member cannot continue.
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Can a foreign national form an OPC?
No, OPC can only be formed by an Indian citizen who is a resident of India.
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What is the minimum capital required for OPC?
There is no minimum capital requirement. An OPC can be started with even ₹10,000 as authorized share capital.
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What happens to the assets and liabilities of my proprietorship during conversion?
They are transferred to the OPC through proper agreements, ensuring business continuity.
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Can an OPC raise funds like other companies?
Yes, OPC can raise funds through loans and other sources, though it cannot directly raise equity from multiple shareholders.
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Will my OPC be treated separately for tax purposes?
Yes, OPC is taxed as a company and needs to file separate income tax returns annually.
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What compliances are required for OPC after conversion?
Annual returns, financial statements, statutory audit (if applicable), and board resolutions as per Companies Act provisions.
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Can OPC be converted into a Private Limited Company later?
Yes, OPC can be converted into a Private Limited Company when business expands or as per legal requirements.
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Do I need to close my sole proprietorship before forming OPC?
Yes, the proprietorship is legally closed and its assets/liabilities are shifted to the new OPC.
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Can I continue using my existing business licenses after conversion?
No, you will need to update or reapply for licenses in the name of the OPC.
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How many people are required to register an OPC?
Only one member and one nominee are required. The same person can also be the sole director.
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Does OPC provide perpetual succession?
Yes, OPC continues to exist beyond the life or incapacity of the member, with the nominee stepping in.
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Is GST registration mandatory for OPC?
GST registration is mandatory only if turnover crosses the prescribed threshold or if the nature of business requires it.
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Can an OPC have more than one director?
Yes, while only one member is allowed, OPC can appoint up to 15 directors.
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Is there any turnover restriction for OPC?
Yes, OPC must convert into a Private or Public Company if its turnover crosses ₹2 crores or paid-up share capital exceeds ₹50 lakhs.
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Why choose EbizFiling for OPC conversion?
EbizFiling provides expert support, transparent pricing, timely filings, and has already served 5000+ satisfied clients.