Conversion of One Person Company to Private Limited
One person company can be converted into Private Limited Company either voluntarily or compulsorily.
|Filing of Application
3 to 5 Working Days
|Drafting of basic documents including MOA and AOA
5-7 working days
|Processing of Application and work completion
15-20 working days
Advantages of conversion of One Person Company into Private Limited
Simple Conversion Process
One Person company can be converted into private limited, by complying with the prescribed limited formalities of the Companies Act, 2013.
Limited liability is the greatest benefit of Private Limited Company. If any legal liability arise then neither it’s member nor it’s director’s personally affected; Liability of the members are only for the unpaid amount on shares held by them and not more than that. Shareholders are not liable for Company’s debts and liabilities.
Venture capitalists or Angel Investor’s prefer Private Limited Companies for Investment or funding. It is very easy to issue equity shares and get Investement.
Frequently Asked Questions (FAQs)
How Registrationseva help with conversion of One person company into Private Limited?
Registrationseva can help in conversion of One person company into Private Limited in 30 to 35 working days, subject to ROC processing time.
Can Private Limited can be incorporated with 2 directors?
Yes, you can incorporate private limited company with 2 directors.
How much money do I need to start a Private Limited Company?
For conversion of One Person Company into Private Limited, no minimum capital is required. You can proceed with conversion with the existing capital.
What is meant by compulsorily conversion?
When a one person company has paid up capital of 50 lakhs or more or the annual turnover of the relevant financial year exceeds Rs 2 crore, then the company has to compulsorily convert itself into private limited company.
Will the change of status have any legal effect?
The conversion will not affect any rights or obligations of the company and any legal proceedings by or against the company.
Documents & Informations Required to Process?
For Directors And Shareholders (In Scan only) :
1. PAN Card
2. Identity Proof – Anyone (Election ID/Passport/Driving License/Aadhar Card)
4. Address Proof – Anyone and Latest by One Month (Bank Statement/Mobile Bill/Telephone Bill/Electricity Bill)
NOTE: AADHAR CARD/DL/PASSPORT/VOTER-ID WILL NOT BE ACCEPTED AS ADDRESS PROOF.
Note: There is no specific set of documents required, rather we will provide you the documents time to time for signature and filing purposes.