Private Limited Company is a more trusted business entity compared to One Person Company. A Private Limited Company can attract investors much easily than One Person Company. An OPC only can converted in to Private Limited Company voluntarily after 2 years of its incorporation. After modifying the Memorandum of Association (MoA) and Article of Association (AoA), the application for conversion to Private Limited Company is to be made with Central Government (Ministry of Corporate Affairs). Even after the conversion to Private Limited Company, the legal existence of OPC continues and there by their rights and liabilities too persists. To convert an OPC to Private Limited Company, minimum 2 shareholders and directors must be appointed to fulfill the minimum requirement.