ONE PERSON COMPANY (OPC)
- Register your company online.
- Complete online process.
- Processing time 10 – 14 days
One Person Company Registration
One Person Company (OPC) is basically introduced to provide the full authority of his/her business in an organized way to a single person i.e. director/promoter. The concept of One Person Company is enacted under the legality emphasis of the Companies Act, 2013. However, before the introduction of the One Person Company, a single person could not start a company in this manner except for the option of a sole proprietorship. An OPC also gets the same identity details like Corporate Identification Number (CIN) which is approved by the Ministry of Corporate Affairs, Govt. of India as the same authority provides to Private Limited Company / Public Limited Company / Limited Liability Company (LLP).
Advantages of the One Person Company Registration in India.
- The major advantage of a One Person Company is a single person can form an (OPC) Private Limited Company in India and it is called a separate legal entity.
- The same person enjoys full authority over the company’s matters.
- Lesser cost of annual compliance in terms of annual accounts is not required to sign by Chartered Accountants up to a certain limit.
- Upon the death of a member, it doesn’t mean that OPC is closed. Even the nominee gets inherited his assets/liabilities upon him in place of the member.
- One-person companies can also accept funds or investments from anywhere.
- The limit of the paid-up capital and the turnover presently applied for OPCs (paid-up share capital for Rs 50,00,000 and an average turnover, while the respective period of, 2 cr rupees) is being removed therefore it is no restrictions on the high scaling of OPCs in terms of their paid-up capital & turnover.
Document/Details required to register an LLP in India
- PAN of Member and Nominee.
- Aadhar of Member and Nominee.
- Photo of Member and Nominee.
- Currently updated bank statement or utility bill bearing the Name and Address of Member and Nominee.
- Proof of Business Place – Rent Agreement and NOC from Landlord/Landlady along with Utility Bill like Electricity Bill, Gas Bill, Telephone Bill and others bearing the same name of Landlord/Landlady
- Primary mobile number and email id.
Process of One Person Company registration
An OPC can obtain a certificate of incorporation by following the due procedure which is detailed as;
- Select a desirable and unique name for registering One Person Company. (only unique name either it is not registered with Ministry of Corporate Affairs (MCA) or Trademark Registry)
- After approval of name then the procedure for filing incorporation documents for One Person Company starts. (Reservation of name is allowed for 20 days only after name approval in prescribed format)
- Applying for Digital Signature Certificate (DSC) for the only person being a director in OPC.
- After installing DSC into the device then prepare the respective forms after reading of form kit.
- Submit the form after all necessary documentation and details.
- After 2-3 days the approval for the same will have.
- The status of OPC can be checked through the respective portal.
- Certificate of Incorporation will have to your registered email as well as can be downloaded from the portal.
- A firm can also get registered itself with Trademarks Registry for the protection of business in terms of its brand value in the market.
- The whole procedure for registering OPC can take one week to two weeks if the procedure gets continued.
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