Legal Suvidha Providers can help you convert Private limited Company to One Person Company easily.
Starting at :₹13999 (all inclusive)
CONVERSION OF PRIVATE LIMITED COMPANY TO ONE PERSON COMPANY
A private limited company can convert itself into a one-person company (OPC) if it has a paid-up capital of less than Rs. 50 lakh and an annual turnover of less than Rs.2 crore.
One Person Company is a business entity run by a sole owner with the benefit of limited liability as that of Private Limited Company.In addition to this, One Person Company is a separate legal entity from its members, offering protection to its shareholders and can be formed by only one director.
|SINGLE OWNER||There is only one owner who can act both as a shareholder as well as the director.|
|LIMITS DIRECTOR'S LIABILITY||Businesses often need to borrow money. In structures such as the Sole Proprietorship, proprietors are personally liable for all this debt. So if it cannot be repaid by the business, the proprietor would have to sell his/her car, house or jewellery to do so. In an OPC, only the amount invested in starting the business would be lost; all personal property would be safe.|
|CONTINOUS EXISTENCE||If a promoter were to operate as a Sole Proprietorship, rather than an OPC, the business would come to an end on his/her death. As an OPC has a separate legal identity, it would pass on to the nominee director and, therefore, continue to exist.|
|EASY COMPLIANCES||OPC is one of the easiest forms of corporate entities to manage. Very few ROC filing is to be filed with the Registrar of Companies (ROC). No need to conduct Annual General Meeting (AGM), so lesser compliance cost.|
A Board meeting of director needs to conducted and a notice will be prepared and a date for the extraordinary general meeting (EGM) will be decided. During this time, we'll complete all the formalities, from filing conversion forms to alteration of your Memorandum & Articles of Association.
List of all members and creditors
Latest balance sheet
Letter of ‘No Objection’ from the members and creditors
Letter of Consent from the Directors by way of affidavit
Notice of Extra General Meeting (EGM), which is held to gain the approval of Directors for the conversion of the Private Limited Company to One Person Company.
Certified true copy of Special Resolution
Altered Memorandum of Association
Altered Articles of Association
Certified true copy of Board Resolution is optional