Proprietorship To OPC

One Time Compliance

11450* Basic Package

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Overview

All about Conversion of Proprietorship to OPC

Enhance your ownership and make the most of the OPC advantage

Turn Entrepreneurship into OPC

Single person venture is a greater and advanced form of sole proprietorship company. One person companies are the perfect organization model for mid-level business. Single person venture is an enhanced and smarter form of sole proprietorship venture, and hence converting sole proprietorship into a One Person Company is a better business idea. Business model of such provides the single promoter complete hilt over the company, as well as keeps the responsibilities minimal as well for the greater protection of the concerned person’s whole properties. Proprietor of this venture is a shareholder as well. Equivalent to Private Company, OPC may also select another person as a director for management. Appointing nominee is optional when it comes to OPC.

Advantages

Safeguard personal properties of a company ensures that the owner holds minimal liability as per his own share.

Widens smarter business ways

Enterprises of larger-scale like to join hands with the OPC, rather than the proprietorship companies. OPC is put under registration as per the private company, and the private companies are indeed quite reliable that turns things easy for them to get funded from the financial ventures. It provides suppliers and their associated customer base with a greater level of confidence in the specific business.

An easy to handle model

In general, the model of OPC is manageable, considering the fact that there remains only one member in it. There is no need to conduct yearly or further general meeting. There is also no need to wait for the approval of anyone considering the fact that there is only a single person who the explicit authority is regarding decision making.

Strategically established model:

The OPC provides the company with a proper model identical to the private limited company and thus turns it strategic as per the advantages associated with the limited liabilities. A sole proprietorship does not provide a well-managed model.

Amendment in the registration of Shop and establishments

If any business wants to make any amendments, then they must intimate it to the Inspector in charge. All the businesses have to inform within the prescribed time. Similarly, if any business wants to close the Establishment, they must inform the concerned authority. They have to surrender their registration to cancel it. After reviewing your application, the officer will cancel your registration.

Records that the businesses must maintain under Shop and Establishment Act

According to the Shop and Establishment Act, every business has to obtain permission from the department of labor. They must keep the register up-to-date about all the details. It includes details of employment, fines, deductions, salary, advances, and holidays. This requirement may vary from one state to another. The files about annual holidays and number of employees should be submitted to the municipal corporations every year.

Document Required

Identity Proof

It is essential to produce a thoroughly scanned copy of PAN Card of the entire directors associated, including the nominees. At the same time, one also needs to produce the Aadhar Card, Voter Identity Proof, authorized passport, and proper driving license.

Address Proof

Regarding this, one needs to produce most updated bank statement or any kind of utility bill. However, this is essential to be in the name of the concerned director. Bills in the name of nominees should be produced as well. But, it is essential to ensure that those should not be more than a couple of months older.

Proof of the office registered

The first thing essential to ensure or provide in this context is to provide the No Objection Certificate from the concerned owner and utility bill, both of which are desired not to be more than a couple of months older. A Notarized Rent agreement for rented property/ Registry Proof or House Tax Receipt for owned property should be produced.

Consent of nominee
Consent of the nominee in written form is essential to be filed along with Registrar of Companies or RoC
Passport size photograph
Most recent passport size photograph of the directors and nominee

Time Lines

(10 to 15 Days)
Purchase the Service
Upload / send the Documents
Discussion with expert
Filing of application with registrar authorities
Receipt of Registration Certificate
Confirmation to client

Service Covered

Pricing for what you want required service

Basic

11450*

Expert Consultation
1 DIN Application (if DIN of director is not available)
1 DSC token
Authorised Capital Rs. 1 Lakh¹
Incorporation Fee and Stamp Duty Fee²
Open a Current Account³
PAN and TAN
Registration with GST
Conversion Process

Business

13950*

Expert Consultation
1 DIN Application (if DIN of director is not available)
1 DSC token
Authorised Capital Rs. 1 Lakh¹
Incorporation Fee and Stamp Duty Fee²
Open a Current Account³
PAN and TAN
Registration with GST
Registration with MSME
Share Certificate
Conversion Process

Enterprise

17450*

Expert Consultation
1 DIN Application (if DIN of director is not available)
1 DSC token
Authorised Capital Rs. 1 Lakh¹
Incorporation Fee and Stamp Duty Fee²
Open a Current Account³
PAN and TAN
Registration with GST
Registration with MSME
ESI and PF Registration
Share Certificate Hard Copy
3 months GST return filing upto 50 invoice per month
3 months account upto 75 entries per month
10 MOA / AOA
Conversion Process

Notes:
* This price is inclusive of all Govt filing fee and excluding GST amount.
1. Additional authorised capital can be increased any time after paying additional stamp duty and other charges.
2. Stamp duty additional required Rs. 7,500 in case of Madhya Pradesh, Rs. 3,000 in case of Kerala and Rs. 10,000 in case of Punjab state incorporation.
3. Current Account will be choosen as per your preference.

FAQ's

What is the least capital essential for getting started with OPC?

Capital needs of OPC and Pvt Ltd are quite equivalent. It demands an authorized capital amount of 1 lakh INR get started with, though none has to be really paid. One doesn’t need to invest any amount in the business. Capital amount should not cross 50 lakh during initiation.

What’s the duration of validity for the Company incorporation?

Post establishment of the company, it gets functional until the annual compliance is fulfilled consistently. If the yearly compliance is not compiled, it turns in to a Dormant Company and may get struck off from the registered post a while. A struck-off Company can be lifted for around 20 years.

What is essential compliance for OPC?

An OPC confined by shares must meet well with following aspects:

1) Must possess least authorized share capital of 1 lac

2) Shares can’t be transferred to anyone else

3) OPC is restricted from inviting any public to go for the securities of the company.

When OPC confined by shares, gets into the contract with the explicit member of company who is a director as well; the contract norms or offers should be maintained in writing. Moreover, those should be kept in memorandum or maintained in minutes of the Board meeting conducted further post being included in contact.

OPC should notify Registrar regarding each contract put into the company with an explicit company member in a period of fifteen days from approval day.

Is it possible to apply for multiple OPC at a time?

No, one can apply only one at a time. The same rule applied for nominee directors as well.

What are the requisites for One Person Company (OPC) Registration in India?

For registering One Person Company or OPC in India, acquisition of DSC Digital Signature Certificate) and DIN (Director Identification Number) from entire directors and Subscriber to MOA (owner) along Nominee is essential. The Registered Office should also be physically present for Private Limited Company Registration, online.

What must be addressed for ensuring instant incorporation of One Person Company digitally?

The company’s promoter should ensure the stipulated name of the OPC for online registration is explicit. Additionally, documents in support of Subscribers, Nominee, and Directors, including Registered Office, must be as needed.

Can one turn One Person Company to a Private Limited Company despite registering One Person Company?

An OPC can be turned in to Private of Public Company only post 2 years of incorporation date.

Who remains nominee in One Person Company?

The need for nominee appointment is suggested for keeping the character if Perpetual Existence, in other words, Uninterrupted Existence of the One Person Company. A nominee has to be appointed while incorporating OPC. When a death occurs, or one fails to be in contract by a present member, the nominee will turn in to a member of one person Company

Proprietorship To OPC