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Convert Proprietorship to OPC
Evolve Your Proprietorship to Take Advantage of OPC Benefits
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Transition Proprietorship to OPC
A One Person Company (OPC) is an enhanced version of a sole proprietorship, making it an excellent organizational structure for medium-sized enterprises. Converting a sole proprietorship into an OPC is a wise choice for business owners. This structure allows the sole promoter to maintain complete control over the company while also limiting their liabilities, thereby protecting personal assets. The owner of the OPC acts as the sole shareholder, and, like a Private Limited Company, an OPC can appoint a separate individual to manage its operations. Additionally, appointing a nominee is a requirement for OPCs.
Advantages of OPC Compared to Sole Proprietorship
Limited Liability for Owners
The protection of the company's assets ensures that the owner's liability is limited to the extent of their own share.
Easy-to-Manage Structure
The structure of a One Person Company (OPC) is straightforward since it consists of only one member. There’s no obligation to hold annual or additional extraordinary general meetings, and decision-making is streamlined, as the sole member has complete authority without needing anyone else's approval.
Opens Up Better Business Opportunities
Larger organizations tend to favor dealing with One Person Companies (OPCs) over sole proprietorships. Since OPCs are registered similarly to private companies, they benefit from the trust associated with this structure, making it easier to secure funding from financial institutions. This also instills confidence among suppliers and customers in the business.
Organized Structure
The One Person Company (OPC) offers a framework akin to that of a private limited company, ensuring a structured organization along with the advantage of limited liability. In contrast, a sole proprietorship lacks this level of organization.
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Our expert team will manage the Conversion of proprietorship to opc
Certificate of incorporation will be mailed after completion of registration
How to Convert of PROPRIETORSHIP TO OPC with Corporate Shastra
Document Requirements
Identity Proof: A scanned copy of the PAN Card for all directors and the nominee, along with an Aadhar Card, Voter ID, Passport, or Driving License.
Address Proof: A recent bank statement or utility bill in the name of the director and nominee, not older than two months.
Registered Office Proof: A No Objection Certificate (NOC) from the property owner, a utility bill (dated within the last two months), and a notarized rent agreement (if applicable) or registry proof/house tax receipt for owned properties.
Consent of nominee: A written consent from the nominee must be submitted to the Registrar of Companies (RoC)
Passport size photograph: A recent passport-sized photograph of all directors and the nominee.
Explore Conversion of Proprietorship to One Person Company Registration in India
What is the minimum capital requirement to start OPC?
The capital requirement of OPC and a private limited company are the same. It needs an authorized capital of ₹1 lakh, to begin with. But, none of this actually needs to be paid-up. This means that you don’t really need to invest any money into the business. The capital should not be more than ₹50 lakh during incorporation.
For how long is the Company incorporation valid for?
What are the compliance requirements for OPC?
Comparison of Business Structures
Proprietorship | Partnership | OPC | LLP | Private Limited | |
|---|---|---|---|---|---|
Ownership | Sole Ownership | Min 2 partners Max 50 partners | Only 1 member | Min 2 Designated Partners | Min 2 Directors Min 2 Shareholders Max 15 Directors Max 200 Shareholders |
Separate
Legal Entity | No | No | Yes | Yes | Yes |
Applicable Law | No specified Act | Partnership Act, 1932 | Companies Act, 2013 | Limited Liability Partnership Act, 2008 | Companies Act, 2013 |
Statutory Audit | Not Mandatory | Not Mandatory | Mandatory | Based On Applicability | Mandatory |
Liability | Unlimited | Unlimited | Limited | Limited | Limited |
Perpetual Existence | No | No | Yes | Yes | Yes |
Ownership Transferability | No | Yes (Restricted) | Yes (Restricted) | Yes | Yes |
Taxability | Low | High | Moderate | High | Moderate |
Compliance
Requirement | Low | Low | High | Moderate | High |