OPC provides a whole new bracket of opportunities for those who look towards to start their own ventures with a structure of organized business. OPC will give the young businessman all benefits of a private limited company which categorically means they will have access to credits, bank loans, limited liability, legal protection for business, access to market etc all in the name of a separate legal entity.
WHATS INCLUDED IN THIS PACKAGE ?
What is the process for Converting Private limited firm to OPC ?
No. As per the Act, Only Indian born citizens can form a One Person Company. Non-resident Indians or individuals who do not reside in India for over 182 days cannot incorporate a OPC.
No, FDI is not allowed for One Person Company, if it is, then it will lose its One Person Company status.
No, the Act clearly states that, the nominee should also be an Indian resident citizen.
As per the Act, Nominee of one OPC, cannot be a nominee of another OPC. In this event, the Nominee has to withdraw his membership from either of the OPCs within one hundred and eighty days.
As per the Act, the average annual turnover during the relevant period should not exceed Rs.2 Crores. If it exceeds, then the company automatically get converted to a Private Limited Company.
The Act has not made any restriction for a One Person Company to become a member of another Private Limited Company.
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