To convert a Private Limited Company into a One Person Company, a Private Limited Company needs to have a capital of less than 50 lakh. Additionally, it has to have a yearly turnover of less than two crores. Furthermore, appointing a nominee is mandatory. However, the process of converting an OPC to a Private Limited Company takes time, but it is essential that it be completed in a period of 25 days.
Advantages of Setting Up a Convert a Pvt. Ltd. Company to a One Person Company :