one person company

Things to know about One Person Company

Incorporation of one person company:   Both sole member and nominee shall be natural persons, Indian citizens and residents in India. Only a natural person who is an Indian citizen and resident in India- Shall be eligible to incorporate a one person company; Shall be a nominee for the sole member of a one person company. The term resident India means a person who has stayed in India for a period of not less than one hundred and eighty two…

Read More

Conversion of One person Company into Private Limited Company

Here, we are going to see the conversion of One Person Company into Private Limited Company based on some criteria. They are as follows: One Person Company to Private Limited Company: There are two ways to convert OPC into Pvt Ltd company. One is voluntary conversion and other one is compulsory conversion. Voluntary conversion: When OPC got incorporated, it cannot convert itself into any other form of company for two years from the date of incorporation. If the time period…

Read More

One Person Company and its nomination procedures

Here, we are going to look at how one person company can be formed by following the prescribed procedures. We already know that what is one person company since the name itself clearly indicates that the company with the single director can form a firm. Some doubts may arise, when comes to formation. Look at this content, you will get a clear idea. One Person Company: A person who is an Indian resident: will be the eligible one to incorporate…

Read More