One Person Company (OPC) to Private Limited Company
"Change your strategy, Create new Brand"
In a private limited company, all business profits and liabilities belong to the company itself and stakeholders may not be responsible for debts incurred by the company.
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One Person Company can be converted in to a Private Limited Company according to the provisions of the Companies Act. OPC can be converted in to Private Limited after two years of setup, or even before that if its turnover is more than Rs 2 crore and paid share capital surpasses Rs 50 lakhs in a financial year.
Yes, the suffix “One Person Company” will be replaced with “Private Limited”.
To register a Private Company in India there should be a minimum of two members.