For registering a Private Limited Company, it is a must to have at least two directors. But, there are many situations when the founder is a single person and does not have a second co-founder. In this case it becomes inevitable to register the company with just one director.
One Person Company was started by the government to help entrepreneurs start businesses without any hassles. OPC extends the concept of a Limited Liability Company to one person instead of two founders. Besides Indian citizens, Foreigners, NRIs as well as organizations can also start an OPC in India. Following are the main requirements to set up an OPC:
- One Shareholder
- One Director
- One Nominee
- Physical Address for Registering the Company.
Completely Online Process
The process of starting an OPC is completely online and one does not need to be physically present at any government office for submitting documents. All the required documents have to be scanned and sent via mail to our experts, who then prepare the file in order and submit to the respective government authorities to get the registration completed.
Conversion into a Private Limited Company
Incase an OPC exceeds a turnover of INR 2 Cr or a paid up capital of INR 50 Lakhs, it must be converted into a Private Limited Company. The process of starting a PLC can be accesses https://leanflo.co/my-support/company-registration/