Q. Why startup should not choose One Person Company (OPC) as their form of business?

One Person Company lack this skill as there cannot be more than one shareholder in the company and hence it cannot raise funding by selling stake to the investors.

Q. What is the minimum capital requirement for One Person Company (OPC) registration in India?

There is no minimum capital requirement to register a One Person Company (OPC) in India. You can register the One Person Company (OPC) as per your choice of capital.

Q. Can a foreign individual/NRI’s start One Person Company in India?

No foreign individual/Non-resident Indian (NRI) can start the One Person Company (OPC) in India. As per law, only resident Individual person can start the One Person Company (OPC) in India.

Q. How to convert One Person Company (OPC) into Private Limited Company?

Conversion of One Person Company into a Private Limited Company is done either voluntary or mandatory. It is done by filing two e-forms to the ROC, i.e. INC 5 and INC 6.

Q. What is a total time taken to register One Person Company (OPC) in India?

The total time taken to register the One Person Company (OPC) in India is around 10 to 12 days. However, make sure you fulfils all the requirement for faster processing of application.

Q. What are the guidelines for mandatory or voluntary conversion of One Person Company (OPC) into a Private Limited Company?

Conversion of One Person Company into the private limited company can happen only in two cases, Voluntary and Mandatory conversion.

Q. What is yearly compliance cost for maintaining the One Person Company (OPC)?

The yearly compliance cost for maintaining the One Person Company (OPC) is somewhere around 8000 to 15000 which actually depends upon your turnover of the Company.

Q. What is the difference between LLP and One Person Company?

The LLP and One person Company is totally a different story altogether. A Limited Liability Partnership is modern way of doing the partnership business in India. Likewise, One Person Company is also a modern way of doing the sole proprietorship business in India.

Q. Can I convert my existing business into One Person Company (OPC) in India?

Yes, you can convert your existing business into One person Company (OPC). But since it is complex procedure, we need to talk to you directly.

Q. I am a Small Dealer, not Registered under VAT or Not having TIN, Do I need to Register under GST?

No, If you are a small dealer and does not have a VAT/TIN number, you do not require to register under GST.