{"id":406,"date":"2019-06-28T11:34:45","date_gmt":"2019-06-28T11:34:45","guid":{"rendered":"https:\/\/aktassociates.com\/blog\/?p=406"},"modified":"2020-01-15T16:23:54","modified_gmt":"2020-01-15T10:53:54","slug":"one-person-company-registration-procedure-documents-india","status":"publish","type":"post","link":"https:\/\/aktassociates.com\/blog\/one-person-company-registration-procedure-documents-india\/","title":{"rendered":"One Person Company (OPC) Registration: Procedure, Required Documents\u00a0"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >In this article, we will discuss about...<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #1e73be;color:#1e73be\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #1e73be;color:#1e73be\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/aktassociates.com\/blog\/one-person-company-registration-procedure-documents-india\/#Introduction\" title=\"Introduction\">Introduction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/aktassociates.com\/blog\/one-person-company-registration-procedure-documents-india\/#Process_for_Registration_of_OPC\" title=\"Process for Registration of OPC :\u00a0\">Process for Registration of OPC :\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/aktassociates.com\/blog\/one-person-company-registration-procedure-documents-india\/#One_Person_Company\" title=\"One Person Company :\">One Person Company :<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/aktassociates.com\/blog\/one-person-company-registration-procedure-documents-india\/#Application_for_DSC_Digital_Signature_Certificate\" title=\" Application for DSC (Digital Signature Certificate):\u00a0\"> Application for DSC (Digital Signature Certificate):\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/aktassociates.com\/blog\/one-person-company-registration-procedure-documents-india\/#Apply_for_DIN\" title=\" Apply for DIN :\"> Apply for DIN :<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/aktassociates.com\/blog\/one-person-company-registration-procedure-documents-india\/#Application_of_Name_Approval\" title=\" Application of Name Approval :\"> Application of Name Approval :<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/aktassociates.com\/blog\/one-person-company-registration-procedure-documents-india\/#The_Documents_Required_for_Registration\" title=\" The Documents Required for Registration :\"> The Documents Required for Registration :<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/aktassociates.com\/blog\/one-person-company-registration-procedure-documents-india\/#Filing_of_forms_with_Ministry_of_Current_Affairs_MCA\" title=\"Filing of forms with Ministry of Current Affairs (MCA) :\">Filing of forms with Ministry of Current Affairs (MCA) :<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/aktassociates.com\/blog\/one-person-company-registration-procedure-documents-india\/#The_Issuance_of_the_certificate_of_Incorporation\" title=\" The Issuance of the certificate of Incorporation :\u00a0\"> The Issuance of the certificate of Incorporation :\u00a0<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/aktassociates.com\/blog\/one-person-company-registration-procedure-documents-india\/#Frequently_Asked_Questions_FAQs\" title=\"Frequently Asked Questions (FAQs) :\u00a0\">Frequently Asked Questions (FAQs) :\u00a0<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/aktassociates.com\/blog\/one-person-company-registration-procedure-documents-india\/#What_is_the_eligibility_to_become_a_member_of_an_OPC\" title=\"What is the eligibility to become a member of an OPC?\u00a0\">What is the eligibility to become a member of an OPC?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/aktassociates.com\/blog\/one-person-company-registration-procedure-documents-india\/#In_how_many_OPCs_a_person_is_allowed_to_be_a_member\" title=\"In how many OPCs, a person is allowed to be a member?\u00a0\">In how many OPCs, a person is allowed to be a member?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/aktassociates.com\/blog\/one-person-company-registration-procedure-documents-india\/#On_forming_an_OPC_is_there_any_tax_advantage_available\" title=\"On forming an OPC, is there any tax advantage available?\u00a0\">On forming an OPC, is there any tax advantage available?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/aktassociates.com\/blog\/one-person-company-registration-procedure-documents-india\/#Does_OPC_have_any_threshold_limits_for_being_getting_converted_into_any_public_or_private_company\" title=\"Does OPC have any threshold limits for being getting converted into any public or private company?\u00a0\">Does OPC have any threshold limits for being getting converted into any public or private company?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/aktassociates.com\/blog\/one-person-company-registration-procedure-documents-india\/#What_are_the_compliances_an_OPC_needs_necessarily_to_follow\" title=\"What are the compliances an OPC needs necessarily to follow?\u00a0\">What are the compliances an OPC needs necessarily to follow?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/aktassociates.com\/blog\/one-person-company-registration-procedure-documents-india\/#Who_is_not_eligible_to_form_a_One_Person_Company\" title=\"Who is not eligible to form a One Person Company?\u00a0\">Who is not eligible to form a One Person Company?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/aktassociates.com\/blog\/one-person-company-registration-procedure-documents-india\/#How_can_an_OPC_be_converted_to_Private_Ltd_Company\" title=\"How can an OPC be converted to Private Ltd? Company?\u00a0\">How can an OPC be converted to Private Ltd? Company?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/aktassociates.com\/blog\/one-person-company-registration-procedure-documents-india\/#What_are_the_requirements_for_the_voluntary_conversion_of_an_OPC_into_a_Private_Ltd_Company\" title=\"What are the requirements for the voluntary conversion of an OPC into a Private Ltd Company?\">What are the requirements for the voluntary conversion of an OPC into a Private Ltd Company?<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Introduction\"><\/span>Introduction<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">the inception of Company Act 2013, a new concept of significant importance known as the One Person Company(OPC) was introduced. Earlier, it was not possible for a single person to form a company. At least 2 directors and members were required to form a Private Company and at least 3 directors and 7 members were required to form a Public Company.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, it has now become possible for a person to form a company with just only 1 director and 1 member, as per section 2(62) of the Company Act, 2013. And the compliances required to be fulfilled for such company are much less than as compared to the compliances for a Private Company.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-425 size-full aligncenter\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/one-person.jpg\" alt=\"one person Company Registration \" width=\"700\" height=\"400\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/one-person.jpg 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/one-person-300x171.jpg 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/one-person-20x11.jpg 20w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Process_for_Registration_of_OPC\"><\/span><strong>Process for Registration of OPC :\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Step 1:\u00a0 First apply for Digital Signature Certificate (DSC)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Step 2: Then apply for Director Identification Number (DIN)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Step 3: Name Approval Application for Company&#8217;s Name.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Step 4: The Documents Required for Registration.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Step 5: Filing Forms with Ministry of Corporate Affairs (MCA)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Step 6: The Issuance of certificate of Incorporation<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>Note:<\/strong> DSC and DIN are not needed for Name Availability under RUN (Reserve Unique Name) web service. This can also be done through MCA portal by Account Login.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"One_Person_Company\"><\/span>One Person Company :<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Application_for_DSC_Digital_Signature_Certificate\"><\/span><strong> Application for DSC (Digital Signature Certificate):\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Following documents are required to obtain the proposed director&#8217;s Digital Signature Certificate :\u00a0<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Aadhaar card<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Address Proof<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Phone Number<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">PAN card<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Email Address\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Photo<\/span><\/li>\n<\/ol>\n<ul>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Apply_for_DIN\"><\/span><strong> Apply for DIN :<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">After the formation of DSC, the name and address proof of the proposed director is required to apply for DIN (Director Identification Certificate) in SPICe form. For existing companies, only Form DIR-3 is available. This says that the applicant is not required to file Form DIR-3 separately with effect from Jan 2018. As well as, the DIN for up to 3 directors can also be applied within SPICe form.\u00a0<\/span><\/p>\n<ul>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Application_of_Name_Approval\"><\/span><strong> Application of Name Approval :<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Deciding the name of the company is the next step in incorporating an OPC. The format for the company name will be as &#8220;ABC(OPC) <a href=\"https:\/\/aktassociates.com\/blog\/private-limited-company-annual-filing-compliances-procedure\/\" target=\"_blank\" rel=\"noopener noreferrer\">Private Limited<\/a>&#8220;<\/span><span style=\"font-weight: 400;\">One can get Name Approval by applying in Form SPICe 32 or by use of RUN web service of MCA to get one preferred name. And these are the only two methods to do so. But now, it is possible to have two proposed names and one RSUB (Resubmission ) for reservations of unique names, as allowed by the ministry itself, with effect from 23rd March 2018.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We can move further to the next step, after the name approved by the Ministry of Current Affairs (MCA) :\u00a0<\/span><\/p>\n<ul>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"The_Documents_Required_for_Registration\"><\/span><strong> The Documents Required for Registration :<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Following are the documents required to be prepared before submitting to the ROC\u00a0<\/span><\/p>\n<ol>\n<li><span style=\"font-weight: 400;\"> The Company will first require &#8220;The Memorandum of Association (MOA )&#8221; consisting of object clauses, stating the principal business for which the company is formed and all the objects to be followed by the Company.<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> The Company will then require &#8220;Article of Association (AOA)&#8221;, defining the purpose of Company and specifying the regulations for the operations going to be carried out by the company.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> A nominee is then needed to be appointed on the behalf of the proposed director or member, in case if anything happens to them, the nominee will carry out the duties on their behalf because there are only 1 director and member. The consent of nominee will be taken along with his Aadhar Card and PAN, in the Form NIC-3.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> The documents for the ownership of the proposed company&#8217;s registered office and a NOC (No-Objection Certificate) from the owner will be required as proof.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> The proposed director&#8217;s Affidavit and Consent of Form DIR-2 and Form INC-9 is a\u00a0 must.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> As a proof certifying that all compliances are made, a declaration certificate by the professionals is needed too.<\/span><\/li>\n<\/ol>\n<ul>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Filing_of_forms_with_Ministry_of_Current_Affairs_MCA\"><\/span><strong>Filing of forms with Ministry of Current Affairs (MCA) :<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Along with the director&#8217;s and the professional&#8217;s DSC, the above-mentioned documents will be then attached to Form SPICe, SPICe-MOA, and SPICe-AOA and uploaded at the MCA site or portal for approval.\u00a0<\/span><span style=\"font-weight: 400;\">Once the documents are uploaded, the PAN and TAN for the company which has to be uploaded to the MCA after affixing the proposed director&#8217;s Digital Signature Certificate will be generated just after the Form 49A and 49B is generated.\u00a0<\/span><\/p>\n<ul>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"The_Issuance_of_the_certificate_of_Incorporation\"><\/span><strong> The Issuance of the certificate of Incorporation :\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The Certificate of Incorporation will be issued by the ROC (Registrar of Companies), as soon as, all the uploaded documents are verified. And once all the documents are verified, our business can be started.\u00a0\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_FAQs\"><\/span>Frequently Asked Questions (FAQs) :<span style=\"font-weight: 400;\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h4><span class=\"ez-toc-section\" id=\"What_is_the_eligibility_to_become_a_member_of_an_OPC\"><\/span><strong>What is the eligibility to become a member of an OPC?\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">To act as a member or nominee of an OPC, a person should be a citizen of India and Resident In India. Only then, he is allowed to be a member of OPC. <\/span><span style=\"font-weight: 400;\">In the above statement, a person who has stayed in India for a duration of 182 days or more during the immediately preceding one financial year, is known as &#8220;Resident In India&#8221;.\u00a0<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"In_how_many_OPCs_a_person_is_allowed_to_be_a_member\"><\/span><strong>In how many OPCs, a person is allowed to be a member?\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">A person is allowed to be member or nominee of only one OPC, no more, no less!<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"On_forming_an_OPC_is_there_any_tax_advantage_available\"><\/span><strong>On forming an OPC, is there any tax advantage available?\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">OPC doesn&#8217;t have any kind of tax advantage. The tax is applied on OPC same as on any other form of company, which is flat 30%, not to forget MAT and DDT applies the same as well.\u00a0<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Does_OPC_have_any_threshold_limits_for_being_getting_converted_into_any_public_or_private_company\"><\/span><strong>Does OPC have any threshold limits for being getting converted into any public or private company?\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">If the OPC&#8217;s immediately preceding three consecutive financial year&#8217;s average annual turnover exceeds not less than 2 crore rupees and the paid-up share capital of OPC exceeds 50 lakh rupees, then the<a href=\"https:\/\/aktassociates.com\/blog\/one-person-company-vs-sole-proprietorship\/#more-780\" target=\"_blank\" rel=\"noopener noreferrer\"> One Person Company<\/a> is under an obligation to necessarily get converted into either public or private form.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"What_are_the_compliances_an_OPC_needs_necessarily_to_follow\"><\/span><strong>What are the compliances an OPC needs necessarily to follow?\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">The compliances mandatory for an OPC are as explained below :<\/span><\/p>\n<ol>\n<li><span style=\"font-weight: 400;\"> One Board Meeting is must to be held within each half of the Calendar year and a time gap of at least 90 days should be between the two board meetings.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Books of Accounts should be made and maintained properly.\u00a0\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Financial Statements should be audited precisely.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Before 30th September of each and every year, there should be the proper filing of business income tax returns.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> ROC Annual Return should be necessarily filed in <a href=\"https:\/\/aktassociates.com\/blog\/know-all-about-form-mgt-7-annual-return\/\">Form MGT 7<\/a>, whereas the financial statements should be filed in Form AOC- 4.\u00a0<\/span><\/li>\n<\/ol>\n<h4><span class=\"ez-toc-section\" id=\"Who_is_not_eligible_to_form_a_One_Person_Company\"><\/span><strong>Who is not eligible to form a One Person Company?\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">A person, who is a minor (having age of fewer than 18 years) is not eligible for forming or becoming a member of OPC.<\/span><\/p>\n<ol>\n<li><span style=\"font-weight: 400;\"> A person who is a foreign citizen.<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> A Non-Resident Citizen.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> A person being incapacitated by contract.<\/span><\/li>\n<\/ol>\n<h4><span class=\"ez-toc-section\" id=\"How_can_an_OPC_be_converted_to_Private_Ltd_Company\"><\/span><strong>How can an OPC be converted to Private Ltd? Company?\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">An OPC needs to meet certain requirements or parameters, in order to get mandatorily converted into a Private Limited Company. They are :\u00a0<\/span><\/p>\n<ol>\n<li><span style=\"font-weight: 400;\"> The paid-up share capital of OPC should be exceeding above fifty lakh rupees.<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> The average annual turnover of the immediately preceding 3 consecutive financial years should be more than two crore rupees.\u00a0<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">As for the above case, a period of six months is given for a One Person Company to mandatorily convert itself into a Public or Private Company.<\/span><\/p>\n<h4><a href=\"https:\/\/aktassociates.com\/start-a-business\/one-person-company\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1038\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/One-person-company-3-1.png\" alt=\"One person company\" width=\"700\" height=\"150\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/One-person-company-3-1.png 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/One-person-company-3-1-300x64.png 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/06\/One-person-company-3-1-20x4.png 20w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/a><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"What_are_the_requirements_for_the_voluntary_conversion_of_an_OPC_into_a_Private_Ltd_Company\"><\/span><strong>What are the requirements for the voluntary conversion of an OPC into a Private Ltd Company?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ol>\n<li><span style=\"font-weight: 400;\"> An OPC can be converted into either Public or Private Company, only after 2 years of getting incorporated, but not before 2 years.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> If the time period is elapsed, an OPC can apply for the conversion, once the duration of 2 years from the date of incorporation is completed.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Under Sec 18 and Rule 7(4) of the Companies Rules of 2014, the Company Act of 2013 laid down some rules and regulations, according to which the process of conversion should be carried out.\u00a0<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">So now we are familiar with what exactly a One Person Company is, along with the process for registration of such company. Not only this, but we have also have seen all the rules and regulations along with the necessary compliances to be fulfilled for OPC and the conversion process of OPC into Public or <a href=\"https:\/\/aktassociates.com\/blog\/procedure-private-limited-company-name-change\/#more-811\" target=\"_blank\" rel=\"noopener noreferrer\">Private Company<\/a> too.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That being said, if you have any queries or doubts about OPC or the establishment and working of OPC or any other doubts, then do ask us through the comments below!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Introduction the inception of Company Act 2013, a new concept of significant importance known as the One Person Company(OPC) was &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"One Person Company (OPC) Registration: Procedure, Required Documents\u00a0\" class=\"read-more button\" href=\"https:\/\/aktassociates.com\/blog\/one-person-company-registration-procedure-documents-india\/#more-406\">Read more<span class=\"screen-reader-text\">One Person Company (OPC) Registration: Procedure, Required Documents\u00a0<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":415,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>One Person Company | Registration | Procedure | Required Documents<\/title>\n<meta name=\"description\" content=\"One Person Company Registration. 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