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Whenever we plan to establish a company it's necessary to overview all the benefits, features, process and eligibility. One Person Company Registration is one such company that delivers excellent benefits. OPC Registration is ideal for the businessperson who is willing to start a venture alone. Before stepping into the world of companies it is important for you to have a little overview of what The provision of act and rules states that only one person can be the director & shareholder of the OPC company.
One Person Company (OPC) as suggested by its name is a company with only one member. One person can perform as a shareholder and a director. One Person Company registration is a separate legal entity separated from its promoter, it has its assets and liabilities. The promoter is not individually liable to repay the debts of the company. Only a single person can open an OPC company.
The OPC registration can be made online and registered under the Company Act, 2013 with MCA (Ministry of Corporate Affairs) & ROC (Registrar of Companies) &. The registration states that only one person can be the director & shareholder of the company. OPC company registration related rules are discussed here, kindly go through the provisions and rules for registration purpose. Following are some points to be kept in mind while proceeding for one man company registration-
You can easily register one person company under the provisions of the Companies Act, 2013 and rules made thereunder. The laws are simple that is the single-person company to work as a company without the complexity of having partners. The OPC is fit for small companies where the yearly turnover is not expected to cross Rs. 2 Crores. In OPC Registration it's essential to note that the candidate or the director must be Indian Resident.
One must adhere to the following are the eligibility guidelines for OPC Registration in India:
For Register one person company in India, you have to fulfil the following pre requirements as-
We are offering the most attractive package of OPC Company registration in which you will get all requisite approvals and certificates by MCA which is mandatory as per new provisions of Companies Act, 2013. Our deliverables as-
The advantages of registering an OPC Company:
OPC is a separate legal entity. It is eligible to do their act own that an entrepreneur can do. It has right to buy, sell, dealing into properties and taking other actions.
By doing OPC registration online you can also get funds from venture capital, financial institutions, angel investors, etc. An OPC can borrow and lend money for the business operation of its.
Under this type of registration there is lots of possibilities and opportunities. Member of company is only liable to the amount of the cost of the share it own. The person can take more risks in business without harming or hurting the loss of personal assets.
Due to sole ownership, the right related to decision making and others are in your hands only. No other persons involvement is there, being a sole owner gives you liberty to make decision by your self.
Any remuneration paid to the director will be allotted as deduction as per income tax law, unlike proprietorship. This is the most unique feature of OPC registration online.
OPC registration online avails all the advantages under Enterprises Development Act, 2006. The recent start-up OPC is micro, small, or medium, therefore they are included under this act. As per the Act, if the purchaser holds any late payment. Moreover, he/she is allowed to receive interest which is times the bank rate.
MCA Registration of One Person Company does require some major documents and forms. So, before enlisting the documents required let's have look over the necessary forms for one person company registration:
These are important for filling forms in OPC registration. Digital Signature Certificate (DSC). Do mention the address & Director name in the SPICe Form.
The next step while joining an OPC registration is to choose the name of the Company. The name of the Company must add the suffix "(OPC) Private Limited'. There are 2 choices available for getting the name approved. By making an application in SPICe + Form or by using the RUN Web service of MCA. By giving only 1 selected name along with the importance of keeping that name for OPC Registration. However, the Ministry has chosen to allow 2 proposed Names. Also, one re-submission (RSUB) while holding Unique Names (RUN Service) for the Companies. MCA approves the name and goes to the next level.
You have to develop the following documents which are submitted to the ROC for one person company registration:
On verification, the Registrar of Companies (ROC) will assign a Certificate of Incorporation and you can commence your business/company.
So, after getting the certificate of incorporation, NSDL will issue a soft copy of the PAN and TAN of the company. According to the new process, the government is also providing PF Registration, ESI Registration, Professional Tax Registration, GST Registration in single application. Government is also providing bank account opening options to companies.
The OPC registration process sums up in simple 5 steps. Do apply today itself.
OPC registration fees start Rs. 2,999/-* all depending on the process. Many applicants already have DSC & DIN. So the process includes OPC registration cost less because the application for DSC & DIN is skipped. For simplifying the registration process there are many online portals. But our portal offers the most affordable price for One Person Company registration fees
Our CA Services Online are cost-efficient and competing with different businesses. We work for customer benefits- Aim is to make the customer happy with our prosperous services. For getting any kind of assistance related to your business, contact an income tax consultant near me on the platform of LegalPillers. We have a panel of experienced income tax consultants near me on the portal of CA Services Online.
On an average basis 16000 companies and LLPs registered during a month with Ministry of Corporate Affairs. Budding entrepreneurs prefer to go for Private Limited Company, LLP or OPC for starting their business in India.
One Person Company Registration is also a type of Private Limited Company having features of only one director in Board. OPC is also similar as Pvt. Ltd Company having better option for those who want to be sole owner of his business.
One Person Company can be register with Ministry of Corporate Affairs by submitting Spice+ Form along with requisite fees. For better assistance contact our professionals at 9625279785 − 9267941961.
Starting an OPC Company in India now easy. You just need to submit some basic documents such as copy of Adhaar Card, PAN Card, Bank statements, email id, contact number, electricity bill etc. On the basis of documents and information registration professionals will submit it with MCA and get your company approved.
Yes, a OPC can have numbers of employees. There is no restriction or prohibition by government on number of employees in OPC.
Yes, a single person can register a One Person Company as it represents by its name.
yes OPC is also a type of Private Limited Company, containing similar features and authorities in it.
You have to write your OPC name as - ABC (OPC) Private Limited.
For one person company registration you must have some basic id address documents with you, one person company registration process will take around 7-10 days to get it complete. For registration purposes contact our CA Services Online. We are offering experienced income tax consultants at very reasonable professional fees.
if you want to register your company with MCA(http://www.mca.gov.in/) and do not want to involve any person in your business, OPC company is the best option for you.
A Indian resident can register a One Person company in India. Must have attained majority.
For OPC registration there must be one person as shareholder and director and one person as nominee in the OPC registration process. Basic documents related to id address proof would be required there.
Government has waived off the minimum capital requirements from company registration. Now even you can do OPC registration online in just Rs. 10 as capital also.
There is no such drawbacks in OPC company, however if your capital goes beyond 50 lakhs and Turnover beyond 2 cr, then you need to convert your OPC into Pvt Limited mandatorily.
If your turnover goes beyond Rs. 2 cr in every year, you shall be liable to convert your OPC Registration into Private Limited Company Registration.
There is only one person as shareholder and director in OPC registration, in case any miss-happening occurs, there must be a person who can take care of the company after the director. For this purpose MCA has mandated the process of appointment of nominees in OPC Registration.
There is no limit to having minimum capital in a company. You can start your company with whatever amount you want as capital.
OPC is registered with MCA and other business registration forms like Partnership, Sole proprietorship ect are not registered with MCA. For getting detailed clarity over registration purposes contact our income tax consultants at 9625279785 − 9267941961.
Limited liability means you are only liable to pay that much amount which you have contributed to the company as shares. You have only that much liability and in case of any debt arises your personal assets will not be attached, subject to certain conditions.
For starting the business for One Person, connect with LegalPillers, our CA Services Online, income tax consultant near me will assist you and help you in getting your Business Registered.
Only a natural person who is an Indian citizen and resident in India is eligible to act as a member and nominee of an OPC registration process. Resident in India means a person who has stayed in India for a time of not less than 182 days during the instantly heading one business year. Age of the nominee or director shall be 18 year or above for being in the OPC registration process.
There is only one member required in One Person company registration, apart from members there is one nominee is also required.
There are so many benefits for registering One Person company like-
Yes, an Open Person Company can also have a CEO, appointing CEO or otherwise is the company's internal matters. For more details contact our income tax consultants at 9267941961-9625279785.