OPC Conversion
Expertise at your service
One Person Company can be converted into a Private Limited Company both voluntarily or mandatorily. An OPC may convert itself into a private limited company after the expiry off 2 years from the date of incorporation. If there is more than one director is appointed in a company, then the board meeting will be required to be held to consider the proposal of conversion. Pursuant to provisions of section 122, the provisions of section 100 are not applicable to OPC. Accordingly, the board decision will be informed to the member and then he will intimate the decision by passing the resolution to the company, which will be recorded in the minutes’ book that is maintained by the company. The Memorandum and Articles of Association of the One Person Company will also be required to be amended by passing members to that effect.
Overview
Our aim is to educate the entrepreneur on the legal and regulatory requirements and be a partner throughout the entire business life cycle, offering support to the company at every stage to make sure they are compliant and continually growing.
Why Choose Us
Leading Financial Consultants At Your Service
We aim to protect and maximize client wealth with smart tailored solutions and we are experts in providing financial investment advice.
Professional
We aim not to just work for you, but to work with you for years to come by cultivating a professional relationship based on trust.
Privacy
We understand that a company’s financial investments and management is not for everyone to know, and take pride in out work ethic of client confidentiality.
Teamwork
We believe in teamwork, working collaboratively to achieve higher goals to optimize your business.
Support
Our experts are always there to support you throughout your financial journey and beyond.
FAQ
Frequently asked questions.
In case the paid up share capital of an OPC exceeds fifty lakh rupees or its average annual turnover of immediately preceding three consecutive financial years exceeds two crore rupees, then the OPC has to mandatorily convert itself into private or public company.
OPC cannot be incorporated or converted into a company under section 8 of the Act. OPC cannot carry out Non-Banking Financial Investment activities including investment in securities of any other body corporates.
NO, an OPC cannot be incorporated as or converted into a company for non-profit, charitable purpose, and it cannot carry out non-banking, financial, or investment activities including investment in securities of any corporate body.
An OPC can avail the various benefits provided to Small Scale Industries like the lower rate of Interest on loans, easy funding from the bank without depositing any security to a certain limit, manifold benefits under Foreign Trade policy and others. All these benefits can be boon to any business in initial years.
