One Person Company is enrolled company who has just a single investor. It is a privately owned business. Arrangements under the Companies Act 2013.
Company Cost Breakdown
* Stamp duty Extra for States: Punjab, Kerala, Madhya Pradesh
* Charges extra for NRI/Foreign Directors
DOCUMENTS REQUIRED FOR COMPANY REGISTRATION?
Copy Of PAN Card Of Directors
Utility Bills Or Voter's ID Or Driving License
Passport Size Photo
Passport Size Photograph Of Directors
NOC From The Owner With Utility Bills With Rent Agreement Or Registry Proof Or House Tax Receipt
Frequently Asked Questions
- Can a Sole Proprietorship be converted into a Private Limited Company?
Yes, a sole proprietorship can be converted into a Private Limited Company by executing an agreement.
- What are the requirements for the conversion of Sole Proprietorship into Private Limited Company?
- Minimum 2 shareholders
- Minimum 2 directors
- Minimum 1 lakh share capital
- What are the conditions for the conversion into Private Limited Company?
- All the assets and liabilities has to be transferred to the Company.
- The Proprietor should hold at least 50% shares of the Company for the next 5 years.
- The Proprietor can only receive benefits in the form of allotment of shares in the company.
- What are the benefits of converting a sole proprietorship into a Private Limited Company?
- The liability of the members is limited to their shares.
- Death or insolvency of the member does not affect the existence of the company.
- A Private Company has more creditworthiness due to its stringent compliances and disclosure.