All You Need to Know About Starting a Company
Conversion from Private Limited to One Person Company
If a private limited company has a paid-up capital of less than Rs. 50 lakhs and an annual turnover of less than Rs. 2 crores, it can be converted into an OPC.An OPC will require a nominee. The whole process is time-taking because you will not be able to use the INC-29 procedure. It needs to be completed within 25 working days.Our services will include everything like the filing of the forms for conversion,the modification of your Memorandum of Association and Articles of Association.
Testimonials
“I've been availing the services of ClickNTax for my companies for more than a year and will be continuing to do so in the near future. The reason is obvious… it’s their super quick and efficient customer support. To name a few, Sachin, Yaseen, Sonakshi and the list goes on. Highly recommended!”
Ankit Mishra
K-Tech Engineers (India) Pvt.Ltd.“One of the best online place for all your legal services. I used them for setting up a company, GST registration and filing, IT filing and for legal notices. They clear all the queries very patiently and make all the processes quite easy. But the best part is they charge very less cost compared to other online services.”
Shubham
Indian Courier Express“Very Professional. Co-operative. ClickNTax helped us to take informed decisions throughout the process. All done conveniently. Follow ups were quick. Thank you ClickNTax. :)”
Arun Gupta
GuideSkillAdvantages of One Person Company
Limits Director's Liability
On growing businesses need to lend money frequently. Proprietor has the personal liability for all this debt in the Sole Proprietorship. So, in case of non-payment of debt by the business, the Proprietor made to pay this debt by selling his personal assets. In an OPC, personal assets of the proprietor are safe and only the amount invested in starting the business will be lost under any circumstances.
Continuous Existence
In a Sole Proprietorship,the business would come to an end after the death of his promoter. Whereas, an OPC has a separate legal identity andit will be passed on to the nominee director and hence, its existence will be continued.
Fewer Compliances
Annual filings are reduced to a great extent because an OPC can have only one director and a shareholder. Work related to share certificates and the statutory registers is also reduced.
