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OPC REGISTRATION

One Person Company (OPC) Registration is the form of Registration that can be done with single Person i.e one member. OPC Registration is introduced in india through companies Act 2013. It is a corporate Form of Registration. One Person Company (OPC) is also a very attractive Legal Entity for firms currently operating as Proprietorships in India. "One Person Company means a company which has only one member". Under this type of Business Entity, there is no need for mandatory minimum two directors, as is the case in Private Limited Company incorporation. It is Preferred when there is only one Person/Member and he want to start work. One Person Company registration is the best form of registration for single Person. As a solo promoter, you can incorporate your company as well as have the advanced of restricted liability and unique legal entity of your company. By using OPC, you need not find a co-founder or partner. OPC Registration in India is an essential procedure that helps you to run your business successfully. If you want to register your OPC, you can gather sufficient details regarding the eligibility, One Person Company (OPC) Registration and much more. These are useful details that help you to complete the registration process successfully.

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Eligibility for OPC Registration/One Person Company Registration

  • 1.  OPC can only be incorporated as a Private Limited Company.
  • 2.  OPC can have only one person as member and one as his nominee, whose name should be mentioned in Memorandum of Association.
  • 3.  Only a natural person who is an Indian citizen and Resident in India is eligible to incorporate an OPC and be a nominee for the sole member of the OPC. (Rule 3(1) of Companies (Incorporation) Rules, 2014)?
  • 4.  A single person is eligible to incorporate only one OPC or become nominee in only one such company. (Rule 3(2) of Companies (Incorporation) Rules, 2014)
  • 5.  Where a natural person, being member in One Person Company becomes a member in another such Company by virtue of his being a nominee in that One Person Company, such person shall withdraw his name from any one company within a period of one hundred and eighty days. (Rule 3(3) of Companies (Incorporation) Rules, 2014)
  • 6.  No minor can become member or nominee in OPC or can hold shares with beneficial interest (Rule 3(4) of Companies (Incorporation) Rules, 2014)
  • 7.  Minimum One Director is required to Form an OPC.
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Reasons to Start a One Person Company (OPC)

Limited Liability

In a one person company the liability of the single shareholder will be limited to the unpaid subscription money in his name. whereas there is no such limitation in the case of a Proprietorship. The structure of One Person Company (OPC) is similar to a Private Limited Company (Pvt Ltd). It Provides you with the Legal Status to do Business.

Separate Legal entity

One Person Company (OPC) is considered as a distinct/separate Legal identity separate from its owner. This clause legally separated the personal assets of shareholder(s) and director(s) in the company. The personal assets of shareholders and directors are legally protected in case of any default by One Person Company (OPC).

Legal Existence(Perpetual Succession)

A One Person Company (OPC) has 'perpetual succession' i.e. it's existence will continue, until unless it has been legally dissolved. The legal existential status of One Person Company (OPC) remains unchanged, even after death/other departure of shareholder. The company also continues to legal exist in case of Changes of Ownership.

Lesser Compliances

One Person Company (OPC) requires relatively less compliances as compared to Private Limited Company (Pvt Ltd) or a Public Limited Company (listed or unlisted),

Ltd. One Person Company (OPC) is also exempted from Procedural Formalities like Annual General Meetings (AGM), General Meetings (GM) and Extraordinary General Meetings.
Enhanced Investment

All credit Institution like Banks, Financial Institutions, Non Banking Financial Company (NBFC) etc prefer to provide business finance to a well structured and fiscally well manager company like One Person Company (OPC) rather than partnership firms and/or proprietorship.

Transparency

Greater Transparency of Financial Statements, because of Annual Return Filing and the fact that under One Person Company (OPC), an investor shall be dealing with One Designated Director in the company and not with a group of promoters, thereby ensuring greater cooperation.

Building Brand

Since One Person Company (OPC) is a validated Legal and Independent/Individual Entity, the concerned Entrepreneur can also build a Global Brand for the Company's products or services.

Asset Ownership

One Person Company (OPC) being a legal independent entity, can purchase, and sell Assets (including machinery, property, land, factory, intellectual property, patents, trademarks etc) in its name, as and when desired. Additionally, the nominee director cannot claim any ownership of the company while serving in that position.

Easy to Sell OPC

One Person Company (OPC) is easy to sell to investors. Comparatively Less Documentation, Less Time and Less Cost is involved in the sale of One Person Company (OPC). Be a part of the Govt of India's StartUp India campaign and successfully claim subsidies, register Patents & get on list of Venture Capitals / Private Equity for Funding.

Other Requirement

Nominee Director: Each and every One Person Company (OPC) must nominate a nominee Director in the AoA and MoA. This person i.e. Nominee Director will become the owner of the OPC in case the sole director is disabled.

Limitations of OPC

OPC to lose its status if paid up capital exceeds Rs. 50 lakhs or average annual turnover is more than 2 crores in three immediate preceding consecutive years.

No minor shall become member or nominee of the One Person Company or hold share with beneficial interest.

Such Company cannot be incorporated or converted into a company under section 8 of the Companies Act, 2013.

Such Company cannot carry out Non Banking Financial Investment activities including investment in securities of any body corporate

No such company can convert voluntarily into any kind of company unless 2 years have expired from the date of incorporation, except in cases where capital or turnover threshold limits are reached.

An existing private company other than a company registered under section 8 of the Act which has paid up share capital of Rs. 50 Lakhs or less or average annual turnover during the relevant period is Rs. 2 Crores or less may convert itself into one person company by passing a special resolution in the general meeting

Limitation Of One Person Company Registration

Annual Turnover

One Person Company (OPC), must be converted into a Private Limited Company (Pvt Ltd) or Public Limited Company (Ltd), if the three year Average Annual Turnover of the OPC crosses INR (Rs.) Two Crores or in case the One Person Company (OPC) has a paid-up capital or Rs. 50 Lakhs or more. The conversion process must be completed in six months timeframe from the fulfillment of above mentioned conditions

Privileges available to OPC Some of the privileges and benefits identified with OPCs are:

  • 1.  OPCs would provide the start-up entrepreneurs with new business idea.
  • 2.  OPC provides an outlet for the entrepreneurial impulses among the professionals.
  • 3.  The advantages of limited liability. The most significant reason for shareholders to incorporate the 'single-person company' is certainly the desire for the limited liability.
  • 4.  OPCs are not proprietorship concerns; hence, they give a dual entity to the company as well as the individual, guarding the individual against any pitfalls of liabilities. This is the fundamental difference between OPC and sole proprietorship.
  • 5.  Unlike a private limited or public limited company (listed or unlisted), OPCs need not bother too much about compliances.
  • 6.  Businesses currently run under the proprietorship model could get converted into OPCs without any difficulty.
  • 7.  OPCs require minimal capital to begin with. Being a recognized corporate, could well raise capital from others like venture capital financial institutions etc., thus graduating to a private limited company.
  • 8.  Mandatory rotation of auditor after expiry of maximum term is not applicable.

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Registration Process

The registration process of your OPC is classified into 4 steps. Including:

  • Getting DIN
  • Getting digital signature
  • Registration filing
  • Getting name reservation
Getting digital signature

The certificate of a digital signature is acquired for a sole promoter as well as a nominee to process the Proprietorship (OPC) Registration. The DSC application can require the passport size images of an applicant, address proof, and identity proof.

Getting Director Identification Number

This number must be acquired for the nominee or promoter.

Name Availability

After getting the digital signature, you can submit the name reservation application to the MCA for getting the Proprietorship Registration in India.

You need to about 6 name options. The name application is processed in twenty-four to seventy-two hours by the MCA. The name recommended must conform to various naming standards as well as OPC must end.
Registration

After getting approval for a name, you can file registration application to MCA with the signed Articles of Association and Memorandum of Association. Additionally, address proof, residence proof and identity proof of the nominee and the member is required. Along with this, other documents like declaration and affidavits of sole promoter must be properly submitted. Additionally, the consent of nominee director is attached in the Form INC-3.On filling for the corporation, the approval is permitted by the ROC. If you find any issues while submitting the documents, you can resubmit the registration application for One Person Company (OPC) Registration.

Formatives of post-registration

The compliance procedure for the POC is same as the private limited company. The documents required to file INC-22 for Proprietorship Registration are:

  • 1.  Rent agreement or lease deed together with the rent receipts
  • 2.  A proof which the company is permitted to use an address as a register office of a company when the similar thing is owned by other person or entity and is truly not taken on the lease by firm

Our Packages

One Person Company Registration

Rs 5,499/-

  • 1 DSC
    1 DIN
    Name Approval Certificate
    Certificate of Incorporation
    PAN
    TAN

One Person Company Registration + Trademark Registration + MSME

Rs 11,999/-

  • 1 DSC
    1 DIN
    Name Approval Certificate
    Certificate of Incorporation
    PAN
    TAN
    Trademark Registration

One Person Company Registration + ISO Certification + MSME

Rs 11,999/-

  • 1 DSC
    1 DIN
    Name Approval Certificate
    Certificate of Incorporation
    PAN
    TAN
    ISO Certification

Package Includes

DSC OF 2 DIRECTORS
DIN OF 2 DIRECTORS
INCORPORATION CERTIFICATE
MOA & AOA
COMPANY NAME APPROVAL CERTIFICATE
COMPANY STAMP, PAN & TAN REGISTRATION
FREE FILLING OF AUDITOR ADDITION FORM ADT-1
ASSISTANCE IN OPENING CURRENT ACCOUNT IN BANK
 

Steps/Process

Step 1

Incorporation Documents

Incorporation Documents are prepared and sent for Signatures.

Step 2

Apply for Digital Signatures

Once ID proofs and signed documents are received, Digital Signature is applied for Directors

Step 3

Apply For DIN

After DSC, application is filed with MCA for getting the DIN Number

Step 4

Incorporation Form Spice

Incorporation Application is prepared and filed with ROC

Step 5

Incorporation Certificate

MCA check and Approves the Incorporation Application.

Step 6

PAN and TAN

PAN is applied based on Incorporation Certificate after that TAN is applied Once we receive copy of PAN card

Documents Required for One Person Company Registration

Self certified copy of PAN card of all Directors - 2 Copies
Four color passport size photograph of each Director
Copy of any utility bill or bank statement in the name of Directors
Mobile & Email of all Directors, 2-3 proposed Name & Objects of Company
Copy of Business proof of premises where company will be registered
Self certified copy of address proof of all Directors - 2 copies, Anyone of Passport/Voter ID/Driving Lincense/Aadhar Card
Incase of rented premises - Rent agreement + Latest electricity bill in the name of landlord + NOC
Incase of owned premises - Copy of sale Deed + Latest electricity bill in the name of owner

FAQ

It is a new concept made for a single person who want to start business in a corporate form. In this type of Registration same person will be the director and shareholder of the company.
Yes nominee is required in OPC company registration
OPC can do turnover of Rs 2 Crore above which opc will be mandatorily converted to Private.

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