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Sole Proprietorship into One Person Company

Evolve your proprietorship and tap on to the OPC advantage

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OVERVIEW
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FAQ'S

Overview

One person company is an improved and better form of a sole proprietorship firm.

One person companies are a great business organization structure for medium-sized businesses.

One person company is an improved and better form of a sole proprietorship firm and thus conversion of sole proprietorship into One Person Company is a good business decision.

This business structure gives the single promoter a full control over the company and at the same time limiting his liabilities to safeguard his personal assets.

The owner of this company is a shareholder.

Appointment of a nominee is mandatory in case of OPC.

Overview

PAN and Aadhaar Card

Both PAN and Aadhaar Card of all Indian Shareholders and Directors

Identity Proof

Either Voter ID, Passport, or Driving License of the Shareholders and Directors.

Proof of Address

Copy of the latest Telephone Bill, Electricity Bill, or Bank Account Statement of the Shareholders and Directors

Photographs

Latest passport size photographs of all the Shareholders and Directors

Business Address Proof

Either of the latest Utility Bill (Electricity, Telephone, Gas, Water) or Property Tax Bill of the registered office address. Rent agreement and NOC from the owner in case of rented property

Proof of Address

Copy of the latest Telephone Bill, Electricity Bill, or Bank Account Statement of the Shareholders and Directors

Benefits of OPC over sole proprietorship

Separate Legal Entity hence limited liability

Protection of the company’s personal assets assures that the owner has limited liability to the extent of his/her own share.

Opens better business avenue's

Large organizations prefer to deal with OPC instead of proprietorship firms. OPC is registered just like a private company and private companies are the trusted form of business which makes it easy for them to get funding from the financial institutions. It gives suppliers and customers a sense of confidence in the business.

An easy to manage structure

The structure of OPC is manageable as there is only one member. There is no requirement to hold an annual or added ordinary general meeting. There is no requirement to wait for anyone’s approval as there is only one person who is the single authority to make decisions.

Organized Structure

The OPC gives the company a structure similar to a private limited company and hence make it organized with the benefit of limited liability. A sole proprietorship does not provide an organized structure.

Read More About Deciding Company Name >

Documents Requirement

Identity Proof

Scanned copy of PAN Card of all directors, nominee and Aadhar card/ Voter ID/ Passport/ Driving License.

Address Proof

Latest Bank statement/ Utility bill in the name of director and nominee which should not be older than two months

Registered Office Proof

No Objection Certificate (NOC) from the owner, Utility bill (should not be older than two months) and Notarized Rent agreement (in case of rented property)/ Registry Proof or House Tax Receipt (in case of owned property)

Consent of nominee

Written consent of nominee is required to be filed with the Registrar of Companies (RoC)

Convert into OPC in 3 easy Steps

  • It takes less than 10 minutes to fill in our Questionnaire
  • Provide basic details & documents required for registration
  • Make payment through secured payment gateways
  • Assigned Relationship Manager
  • Procurement of Digital Signatures (DSC)
  • Application for Name Reservation
  • Documents drafting including MOA and AOA
  • Certificate of Incorporation
  • All it takes is 12 – 15 working days*
 
 

Process of converting Proprietorship to OPC

  • Application for Digital Signature Certificate
 
  • Checking Name availability
  • Application for Name Reservation under “RUN“
  • Reservation of Name
  • Drafting of MoA, AoA & other documents
  • Payment of Stamp Duty
  • Notarization of required documents
  • Filing application for company registration
  • Application for DIN Allotment
  • Application for PAN and TAN of company
  • Government processing time
 
 
 
 

Our Clients

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Have Questions? Find Answers Here

The capital requirement of OPC and a private limited company are the same. It needs an authorized capital of 71 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.
Once a Company is incorporated, it will be active and in-existence as long as the annual compliance is met regularly. In case, annual compliance is not complied with, the Company will become a Dormant Company and may be struck off from the register after a period of time. A struck-off Company can be revived for a period of up to 20 years.
No, an individual can form only one OPC at a time. The rule is the same for the nominee director too.
To register One Person Company (OPC) in India, acquiring the DSC (Digital Signature Certificate) and DIN (Director Identification Number) by all the directors and Subscriber to MOA (owner) along with the Nominee is mandatory. The Registered Office shall also be in existence for online Private Limited Company Registration.

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