Keynotes on OPC Registration
OPC Registration in 10 to 15 days.
Completely online service - No physical presence required
No minimum capital requirement
One Person Company or OPC is a type of proprietorship business where the company formation is performed by a single person. The One Person Company was grown up recently as the immense development over the sole proprietorship business.
It is very easy to perform OPC registration for business setup. One Click Business Solutions Private Limited is just a call away from your start-up registration and business setup. So you may contact us to incorporate your OPC in quick turnaround time.
One Click Business Solutions Private Limited has a proven track record to register numerous One Person Company. We work round the clock to provide our clients with the best consultancy and service. Our professionals help you to process OPC registration documents appropriately in order to avoid any situation that can prevent your start-up registration.
We are familiar with OPC registration online procedure that's why our experts can help you accelerating your business registration and setup. We know how to register OPC properly to avoid any legal hassle and other issues. So what are you waiting for? Get in touch with us as soon as possible to start your OPC company in low cost.
One Person Company or OPC is a type of proprietorship business where the company is created by a single individual. One Person Company Registration procedure is not difficult.
A One Person Company is the most modern type of business in India proposed under the Companies Act 2013. Incorporation of micro businesses with entrepreneurial thought took place to start a single person company. One Person Company can be registered easily under the provisions of the Company Act 2013. It was made effective for a single individual company to work without having partners. More people can get motivation and courage to start their own business. One Person Company is suitable for small businesses where the turnover does not exceed Rs 2 Crore.
Note – The nominee of the director should be Indian resident.
Minimum number of required director is one
One Person Company is a type of Private Limited Company where the company can be started by a single person
During the year, there is no need to call annual general meeting
Limited liability of the member
One shareholder only – Only a natural individual who is an Indian resident and also citizen of India is eligible for incorporation of a One Person Company
One Person Company is considered as distinct legal entity
Limited Liability - There is a limited liability associated with One Person Company that denotes the liability of the Director is limited. Personal asset of the Director cannot be used to pay off the debt of the business. Their property is safe.
Reduced Compliance - Compliances under One Person Company registration are reduced as compared to any other organization. Minimum paperwork is required.
No need of Minimum Capital - There is no minimum capital requirement for One Person Company registration. Though, the maximum authorized capital of One Person Company must not cross Rs 50 lakhs.
Enhanced Reliability – According to the needs of One Person Company, its books should be audited annually. It includes the enhanced reliability among the lending institution and vendors.
Permanent Existence – The illness, or death or incapacity of the director won't prevent the continuous procedure of the company as the nominee director will suppose to continue the business.
Easy to Set up and maintain – An OPC can be easily set up and maintained.
No Legal hassle – Once the Company is registered with one person, there is no chance of any legal issues between the directors. There is not any chance of ego clashes which generally occur.
Documentation - Documentation plays an important role in OPC Registration. The primary documents of promoters like ID, PAN and address proof need to be submitted with utility bills like water bill, electricity bill or telephone bill of the registered address with a NOC from the proprietor of premises as proof of the registered address of the company.
Selection of Name - The name of every company must be unique and should not violate the name of any other company or trademark as well.
DSC for all promoters of OPC - Under the information technology act, DSC is equal to the paper or physical signature. In order to register One Person Company, all the applications to ROC are to be filed in digital format signed by its proposed director. The filing procedure for OPC incorporation begins with the issue of a digital signature for the shareholder and director of the company.
Name Approval - RUN refers to an online application, which requires to be used for making an application for obtaining approval of the ROC for the proposed Name of the company. This is web-based application where two names can be filed. It includes a note on the business activities and the significance of the Name.
Filing of Spice Form to ROC – Once name approval of the OPC is completed, it is recommended to file the formal application for registration of the company in form SPICE to the ROC with proper documents as attachments. The documents need to be attached with Spice Form include MOA, AOA of the company, proof of the registered address with NOC from the landlord and KYC documents of promoters. Then the DSC of the promoters is used to sign the application, which is attested by a practicing Chartered Accountant, Cost Accountant, Company Secretary, or an Advocate practicing at High Court. Filing fee of the government for incorporating Company depends on the proposed capital of the company.
Incorporation of OPC with ROC - The final stage for the OPC incorporation includes Issue of certificate of incorporation after the verification of the application for OPC Registration. This is filed in Spice Form. The issue of the registration certificate for OPC is the definite proof of the incorporation of the company by ROC.
PAN and TAN number - Now, the issue of Pan Number and TAN is completed automatically at the time of registration of the Company. You do not require making any separate application. The PAN Number and TAN are printed on the certificate of incorporation itself. Once registration of the Company is completed, e-Pan and Tan letter is sent via email.
Documents of Directors/ Shareholders :
PAN card of each promoter
Two colour photographs of each promoter
Address Proof (bank statement / electricity, telephone bill, mobile)
Identity Proof (Voter ID / Passport / Driving License)
Documents related to registered address :
Utility bill as proof of registered address
Proof of registered office
Completely filled questionnaire
NOC From the proprietor of the premises
Only a natural person who is a resident in India and citizen of India
A person who is eligible to register One Person Company
He should be competent to be a nominee of being sole member of One Person Company
A resident of India is an individual who has stayed in India for minimum 182 days in the past one year
If any One Person Company exceeds a turnover of Rs 2 crores or has a paid-up capital more than Rs 50 lakhs, it must be turned into a public or private within six months
Digital Signature Form
Questionnaire – Company Registration
Declaration of Promoter - Non Deposit under SEBI and FEMA
INC9 Declaration of Promoter
MOA and AOA Subscriber Sheet
DIR2 – Consent of Director
NO Objection of owner
One Person Company is a good choice to continue a sole proprietorship. However it works under the wrap of a Private Limited Company.
One Person Company can be registered by the Indian resident because according to the instructions of the Ministry of Corporate Affairs, it includes only one director.
Books of accounts fulfilling the needs of statutory audit needs should be maintained with One Person Company. Income tax returns and annual filings must be submitted by One Person Company with the Registrar of Companies.
No there are no tax benefits accessible for One Person Company. Tax is to be paid at a flat rate of 30% on profit.
The cost of One Person Company is lower as compared to a private limited company. Professionals may vary to take incorporation and compliance fees or auditor fees in order to audit books of account will be charged separately.
No, a person can make only one OPC at a time. Besides, the rule is applicable to the nominee in One Person Company also.
One Person Company registration is completely online process. You don't require being present in our office or Ministry of Corporate Affairs.
Generally, 10 to 15 days are required for completing company registration procedure in India.
A registration certificate given by the registrar of the business is valid until any complaint took place.
OPC includes only one director. As he can be injured or get hurt, a nominee should be appointed. He will come into the scenario only when director will meet with any issue.
You need an authorized share capital of Rs 1 Lac only to begin your One Person Company business. There is not any difference in capital structure as compared to Private Limited Company.
Minimum one nominee is needed to begin an One Person Company who can act as a director as well as shareholder.