ONE PERSON COMPANY (OPC) REGISTRATION IN INDIA

The revolutionary new concept of one person company has been introduced in the Companies Act 2013. Often we see many Sole Proprietorship concern working in its individual name as a proprietorship concern. Sole means single and proprietorship means ownership. Sole Proprietor is the business which is owned and controlled by a single owner and have unlimited liability. This mean if a proprietor is failed to meet his debts or obligation, his personal property can be used to dispose off or to satisfy the liability, but OPC creates a separate legal entity and allows for the limitation of liability. The biggest reason to start an OPC would be that it could be converted in to private limited company in future

Requirement for Registration of One PersonCompany (OPC)

  1. 1. OPC requires only one person as a shareholder i.e. 100% shareholding in one hand.
  2. 2. Apart from shareholder appointment of one nominee is requisite in OPC.
  3. 3. Maximum number of Director in an OPC can be raised to 15 only by passing special resolution.
  4. 4. Maximum Paid Capital in an OPC can be Rs. 50 Lac and Average turnover limit is Rs. 2 Crores.
  5. 5. Mandatory Conversion to Private limited Company is necessary in case an OPC exceeds the limit of Rs 2 crores turnover.

Benefits of Registration of One Person Company(OPC)

  1. 1. Quick Online Registration of One Person Company (10-20 days varying state to state).
  2. 2. An OPC is one man show and has more work independence (100% Shareholding of one person).
  3. 3. Voluntary Conversion of an OPC into a Public/Private Limited Company is allowed subject to expiry of 2 years after incorporation
  4. 4. An OPC structure has very basic Post Incorporation Compliances .

PROCEDURE OF ONLINE ONE PERSON COMPANY REGISTRATION

DSC OF DIRECTOR

DIN OF DIRECTOR

Preparation of INC- 29
(which Includes Name reservation, various declaration, MOA/AOA Registration etc)

Filing of INC -29

Wait for approval from ROC

Register now at a very small Price of Rupees: ₹12999
No hidden cost - unlike others !

Stamp duties are extra for:

Punjab:₹8500

Madhya Pradesh:₹6000

Kerela:₹1000

Karnataka:₹2000

Frequently Asked Questions ?

Q. What is One Person Company? 
A. One Person Company is also a private limited company which allows to operate by one person. It requires only one person as shareholder and director unlike in normal Private limited company. A company registration opportunity by Ministry of Corporate Affairs (MCA) for sole proprietor businessman to operate business by a separate legal entity having 100% control over it.
Q. Why to go for One Person Company? 
1. Looking for a registered business under 100% own control.
  2. Not looking for Funding in next 2 years.
3. Best for small set up of business.
4. Convertible to normal Private Limited Company.
5. No consequence of disparity in Ideas, concepts, working etc.
Q. How much time will it take to register a One Person company? 
A. It normally takes 7-10 working days after submission of all requisite documents. But sometimes it may vary to 10-25 days also which depends of state of registration, as each state has its own Registrar of Companies(ROC) to register One Person Company.
Q. What are the additional compliance for One Person Company? 
A. Apart from regular compliance of Income Tax, all one person companies are required to follow all compliance as per Companies Act, 2013. There are several compliance which is applicable after certain compliances. But some annual compliance to be follow by all one person company i.e.
1. Appointment of Auditor i.e. filing of ADT-1.
2. Annual Filing of company i.e. AOC-4(Financial of company) and MGT-7(Annual Return).
Q. What is minimum capital required for private limited company? 
A. A One Person company required a minimum capital of Rs. 1, 00,000. This amount is supposed to deposit by the shareholder in the bank account of company. Then the same amount can be used by the company for its operations.
Q. What are the documents required for private limited company registration? 
A. 1. PAN card of Director and Shareholder.
2. Photographs of Director and shareholder.
3. ID Proof and Address proof of Director and Shareholder.
4. Address proof of registered address of Company.
Q. Will company360 help in your post incorporation compliances? 
A. Yes, Company360 will assist you in your post incorporation compliances.

Popular Posts on Company360.in

llp or private limited right choice for your startup company
18.authorized capital vs paid up capital
reference on DIN private limited company and llp registration
important points during private limited company registration
private limited company subsidiary registration
stratupindia scheme registration preocess