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Convert your One Person Company to Private Limited Company and unleash the power of your entrepreneurship with the help of ComplyKart professionals easy and hassle-free

Package inclusion:

  1.  Best Consultancy by Expert CA

  2.  Alteration of MOA & AOA

  3.  Filing of Form MGT-14, INC-6

  4.  Document Preparation and Form Filing

  5.  Post conversion compliances

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ONE PERSON COMPANY TO PRIVATE LIMITED COMPANY

Growing Business needs people on Board and to look after the management of Business. Entrepreneurs having OPC convert them into Private Company because of their increasing operation and expenses. To convert an OPC into a Private Company your OPC needs to have vintage of 2 years at least and one has to convert its MOA & AOA. ComplyKart is the Industry leader helping Companies to stay complied with passion.

What is One Person Company

The Companies Act, 2013 introduced new concept of One Person Company to support emerging entrepreneurs. Hence, they are encouraged to create a single person economic entity keeping in view limited liability protection. It’s an opportunity for aspiring as a minimum of two members are required for incorporating and maintaining a Private Limited Company and on the other side, and only one person can form OPC. The Registrar of companies provide them status of separate legal entity from its promoter. The promoter also gets limited liability protection so continuity of business carries much flexibility.

What is Private Limited Company

A small private business entity comes under the category of Private Limited Company as per the provisions of the Companies Act, 2013. Only 2 directors can make this company operational in the market. The feature of limited liability of each member saves their personal assets in condition of any financial problem or overdue debt. The management and decision-making process is quite smooth as 2 members’ rational wisdom proves result worthy for increase in production and sales. The death of the any member or desire to exit the company does not affect the existence of company. It enjoys the privilege of perpetual succession despite all obstacles. The credibility of Private Company is greater than any type of entity.

2 Types of Conversion

Voluntary Conversion:  OPC convert themselves voluntary to enjoy the benefits of credibility, easy funding and increasing the salesforce. An OPC can be converted in Private Company only after completion of 2 years of its formation.

Compulsory Conversion:  An OPC is required to convert itself into Private Company mandatorily when the paid-up capital of OPC is increased by 50 lakh and turnover is increased from 2 crores. It has to follow necessary procedures to convert itself into Private Company.

Benefits of Private Limited Company

Unlimited scope

Since the OPC has only 1 promoter and mostly 1 director, the growth chances are very limited. In Private companies the decision making is divided between different people and hence increases the growth.

Getting Bigger

Normally the OPCs convert themselves into Private company only when their turnover increases 2 crores or 50 Lakhs of paid-up, therefore it can be said that getting bigger can be a moytivation.

Increased credibility

The status of Private Company enables you to enjoy more credibility from its stakeholders than OPC. This assured faith guarantees maximum growth.

Availability of funds

Though a Private Limited Company can be formed with 2 directors only but if need arises, this number can go up to 200, this enable to raise funds quickly. On the other side, it is quite difficult task for sole proprietorship to raise money.

Procedure of Conversion in to OPC into Private Company

  • 1

    Pass Board Resolution

    Meeting of Director is convened and resolution is passed for converting the OPC into a Private Company and file the necessary Forms with ROC

  • 2

    Alter MOA & AOA

    Upon passing the Board Resolution MOA & AOA of OPC is altered according to the Private Company

  • 3

    File Form INC-5

    Form INC-5 is filed with the concerned Registrar of Companies with attachments like Board resolution for approval

  • 4

    Approval

    Once the ROC gets the Forms and other documents filed, they approve the Form and issue a COI in the name of converted Private Company.

How ComplyKart can help

Consulting & Strategy

Our conversion experts will give you the best consulting and prepare the strategy for conversion of your OPC into Company

Client’s growth

Our services are aimed at achieving growth for clients. We can provide necessary guidance for understanding the conversion process

Competence is our strength

We make every effort to stay updated with the rules and regulations by MCA. This enables us to deal with client’s needs effectively.

Always there for you

The assurance of a dedicated workforce including support staff and managers can be a promising factor in the conversion process

Post Conversion Compliance

Once the conversion is approved by the Authority you need to comply with certain rules which we help you to comply and keep it running.

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