Private Limited to One Person Company
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Private Limited to One Person Company
Incase You are planning to convert your Private Limited to One Person Company or even confused between choosing the right body corporate between a Private Limited and One Person Company, we have listed below a basic comparison between the two.
| Parameters | OPC | Private Limited Company |
|---|---|---|
| Name of entity | OPC Pvt. Ltd. | Pvt. Ltd. |
| Minimum Capital Required | No mandatory requirement | No mandatory requirement |
| Maximum Paid up Capital | If the paid up capital exceeds Rs.. 50 lakh, One Person Company has to be converted into a private limited company | No Maximum cap |
| Number of Member | minimum and maximum 1 member | Minimum 2 and maximum 200 members |
| Minimum Number of directors | Minimum 1, maximum 15 directors | Minimum 2, maximum 15 |
| Annual Filings and returns | Annual returns and financial statements with the Registrar Of companies | Annual returns and accounts need to be filed with the ROC every year |
| Share transfer | By altering the MOA | By transferring shares |
| Board Meetings | In case of single director, No board meetings. Otherwise each half year between 90 days maximum gaps. | one board meeting each quarter of the year with the maximum gap between two meetings being 120 days. |
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