Nationality: One Person Company only allows a permanent resident of India with an Indian nationality to form the company along with the nominee who does not allow any foreign investment or foreign MNC to invest their subsidiaries in one person company.

Compulsory Winding up When Company did something which is unlawful or illegal then Government by force shut down the company.

Note: Procedure of winding up a company is similar for every company Incorporated in India.

LLP is a worldwide recognised business entity registered with the ministry of corporate affairs and governed by the Limited Liability Partnership Act, 2008 which limits the liability of partners and provides flexibility of a partnership.

Though, Private Limited Company is the most popular form of business in India however; you can also convert it to another business form if you wish to grow it on a large scale.

Due to the regulation of government and accordance with law, once in a year, every company requires having their accounts audited by the auditor.

As Sole Proprietorship Firms are not governed by any law.

OPC has more benefits than a private company hence any private company dealing with all sorts of businesses is applicable to convert itself to an OPC with the rules and provisions given in Section 18 of the Indian Companies Act of 2013, and the Companies (Incorporation) Rules of 2014 [CR-2014] Eligibility Criteria for Converting to One Person Company Legal Provisions related to Conversion of Private Company into One Person Company are given in Section 18 the Companies Act, 2013 read with Rule 7 of Companies (Incorporation) Rules, 2014.

Every Private Limited Company is required to cope up with the legal regulations that are imposed by the government to maintain proper data & functionality of companies in The Indian Economy.

What is the minimum requirement for the conversion The requirements stated by the government for the conversion under the First Provision of SEC 14(1) are: Minimum requirement of 7 shareholders and three directors are required Minimum Authorized paid-up capital up to five Lacs About 75% of members consent Few Amendments in the article of Association A new, unique name for the company Complete annual returns filing with the registrar What are the documents required for the conversion?