Convert Proprietorship to OPC

Protecting your interest

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Description

OPC has several advantages over proprietorship firms and is best suited for small size businesses. This business structure gives full autonomy to the individual to make decisions and at the same time limit the liability towards creditors safeguarding personal assets. The owner can appoint directors to run the business and also have the benefit of perpetual succession.

Benefits over Proprietorship firm:

  1. Separate legal entity
  2. Limited liability
  3. Perpetual succession
  4. organised structure
  5. Easy to manage
  6. Trusted form of business

 

Documents required

  1. PAN Card and Aadhar card/ Voter ID/ Passport/ Driving License. of all directors, nominees
  2. Latest Bank statement/ Utility bill in the name of director and nominee, which should not be older than two months
  3. No Objection Certificate (NOC) from the owner, Utility bill (should not be older than two months) and Notarized Rent agreement (in case of rented property)/ Registry Proof or House Tax Receipt (in case of owned property)
  4. Written consent of the nominee is required to be filed with the Registrar of Companies (RoC)
  5. Latest  Passport-sized photograph of the directors and nominee.

 

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