Convert Private Limited to OPC: A Guide

Converting a Private Limited Company (PLC) to a One Person Company (OPC) offers benefits like sole ownership, limited liability, and reduced compliance. The process involves passing a board resolution, clearing outstanding debts, and altering the company’s MoA and AoA. After filing an application with the Registrar of Companies (RoC) and obtaining approval, the company’s status is updated. OPCs have fewer compliance requirements, such as no AGMs and fewer board meetings. However, OPCs are limited in raising capital and transferring ownership, making the conversion suitable for solo entrepreneurs with smaller, less capital-intensive businesses. It's important to evaluate the pros and cons before converting and seek expert advice.