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Convert your Private Limited Company into One Person 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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PRIVATE COMPANY INTO OPC

One Person Company is a new concept introduced by the Companies Act, 2013 to support the entrepreneurs to start a venture by allowing them to create a single person entity. A person who is capable of starting a venture by their own can do it easily by following the simple process and some compliances. ComplyKart is the Industry leader in the helping Corporates in complying with the Rules with passion.

 

What is a Private Company?

Private Limited Company is a form of business which can be registered with 2 persons and enjoy the benefits of being a Limited Liability Company. Some features of Private Limited Companies include restriction in transferability of shares, limitation of maximum number of members to 200 and prohibition to the public to subscribe for any securities of company. Private Limited Company enjoys many exemptions provided by Ministry of Corporate Affairs.

 

What is an One Person Company?

OPC is basically a form of private company with just a single member. In general, to start a business in form of company one needs minimum two directors but with the introduction of this term a single person can form a company as the name itself says One Person Company. The best thing with OPC is, it enjoys the benefit of limited liability and credibility of Private Company and does not need to comply with few of the stringent provisions.

Advantages of OPC

Separate entity

OPC is a separate Legal Entity in the eyes of law and is capable of doing everything on its own name through its Directors.

Easy Management

Since there is only one person involved in the management, the day to day management of an OPC is easier to control.

More opportunities, limited liability

As the risk is associated to the extent of value you hold, the liability is limited but the opportunities are many.

Lesser Compliances

As OPC has to go for lesser compliances then a private company it can focus more on their functional area.

Benefits of Small-Scale Industry

An OPC can avail various benefits like lower rate of interest on loans, easy funding etc due to its small structuring.

Procedure of conversion

  • 1

    Conduct Board Meeting

    Convene a Board Meeting to get approval for conversion and to conduct meeting of shareholders

  • 2

    Convene an EGM

    Meeting of shareholders must be convened and a Special Resolution must be passed by the shareholders for conversion and alteration of MOA.

  • 3

    File Form MGT-14

    MGT-14 is to be filed with concerned Registrar of Companies within a period of 30 days of passing Special Resolution for intimation

  • 4

    File Form INC-6

    Form INC-6 is required to be filed to complete the process of conversion of Private Limited into OPC

  • 5

    ROC Approval

    On being satisfied with all the documents ROC will verify the e-forms and attached documents and will issue a certificate for conversion.

Documents Required

  • Board & Members Resolution
  • Affidavit for Permission of members & creditors.
  • Declaration for small Company
  • List of members & creditors
  • Most recent audited Financials
  • Copy of NOC of secured creditors.
  • How ComplyKart can help

    Consulting & Strategy

    Our conversion experts will give you the best consulting and prepare the strategy for conversion of your Private Limited Company into One Person 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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