One Person Company Registration
A One Person Company is a private limited company that can only have one member and one director at a time. • Members and nominees must be natural people, Indian citizens, and residents of India.
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INTRODUCTION
What is One Person Company?
We must first examine the identity that a one person firm generates in order to comprehend its definition. A registration gives the directors and members company status along with several advantages. A private business must have a minimum of two members, however this is not the case for an OPC. The Companies Act of 2013 introduced this type of business structure in order to do away with this disadvantage and enable one person to benefit from One Person Companies. Online filing and processing streamlines the registration process for one person companies.
A one-person firm has a single shareholder who holds a 100% ownership position in the business. In order to preserve the perpetual character, the nominee must be appointed. This person will function as the owner’s substitute in the event of the owner’s demise or incapacity. One kind of Private Limited firm is a one-person firm.
ADVANTAGES
Advantages of Individual Company Registration
Differentiated Legal Status
The status of a one-person business would be acquired by it. In contrast to a proprietorship firm, such an OPC registration guarantees that the entity is independent of the owner. OPC has the authority to sign contracts with the parties and to possess the assets in its own name. The proprietor has no influence over the company's decisions. The primary advantage of registering with OPC is this.
Reduced Obligations for Compliance
Unlike a private corporation, a one person firm benefits from exemptions from numerous regulatory requirements. OPC is exempt from compliance requirements such as hosting board and general meetings, among others. Nonetheless, if there are multiple directors on the board, a board meeting is required.
Owners' Limited Liability
One advantage of registering OPC is that it creates a distinct legal entity for the firm, shielding the obligations and liabilities from the sole member's personal assets. A member's responsibility is capped to the amount of capital they have not yet paid. The member's personal assets are safeguarded even in the event of liquidation, with a few exceptions.
Division of Ownership and Management
Due to the obligation to manage and administer a business, the owner of an OPC may designate a director even if they are the only ones who own it. The director(s) are in charge of operations, while the member can make money by directing their efforts toward other ventures. But in a One Person Company, all stakeholder control is entirely within the shareholder's hands.
A LIST OF DOCUMENTS
Documents Needed for Online Registration of One Person Companies
PAN Card
PAN card of directors, nominee, and shareholder.
Identity Proof
The voter ID, passport, Aadhar card, and driver's license of the nominee, directors, and shareholders.
Proof of the Director's Address
Current phone and electricity bills, as well as the shareholder, nominee, and director's bank account statement.
Photograph
Current passport-size photos of directors, nominees, and shareholders
Proof of Business Address
most recent telephone and electricity bills for the registered office address
Owner's NOC
No Objection Certificate to be obtained from the owner(s) of registered office
Rent Contract
If there is one, the registered office's rent agreement should be submitted.
Name structure of an One Person Company
Special Name
As it establishes the firm identity, One Person firm names ought to be distinctive, ideally created words.
Business Item
The OPC name format shall have the second part of name suggesting the business activity of the company.
Type of Constitution
The last part of the company's name must be "(OPC) Private Limited."
ACTIVE REGISTRATION ONLINE
Registration of a Single Person Company
1. Respond to Quick Questions
- Select the Package that most closely matches your needs.
- Almost ten minutes were needed to complete our survey.
- Give the necessary documentation and basic information for registration.
- Use safe payment gateways to process payments.
2. Relax While Our Team of Experts Completes Everything
- A Relationship Manager has been assigned to assist you with OPC registration.
- Acquisition of Electronic Signatures (DSC)
- Request for OPC Name Reservation through SPICe
- drafting of documents, such as the AOA and MOA
- The incorporation certificate
- Application regarding TAN and PAN
3. You've Registered for an OPC
- All it takes is 11 – 15 working days*
THE ACTION
The OPC registration process ?
Days 1 - 3
- Review of supplied documents and data
- Certificate of Digital Signature Application
Days 4 - 7
- Verifying the availability of the name
- MoA, AoA, and other necessary document drafting
Days 8 - 10
- Approve the reservation under SPICe.
- Filing company registration application
- Application for DIN allocation
- Application for the company's PAN and TAN
Days 10 - 12
- Time spent by the government processing
Common Queries
The requirements listed below are necessary to register an OPC in India:
1. The shareholder needs to be an individual who resides in India.
2. At least one director is named; this person must reside in India.
3.A resident of India who is over the age of eighteen (18) should be distinctive as a nominee on the time of registration.
4. The deal with of the place of business should be indexed as OPC’s registered office.
- No, the minimum paid-up capital criterion for OPC registration has been eliminated. When registering OPC, the sum needed to launch a business must be subscribed. Additionally, in order to register, the subscriber needs to own at least one share. It is crucial to remember that the Authorized Capita must remain at least INR 1 Lakh.
- An person is the only one that would additionally join OPC. In order to installation a One Person Company, an character need to be a resident of India and be older than eighteen. A character should were in India for at least 182 days in the most modern calendar year so you may be taken into consideration an Indian resident. One such requirement is that an person may simplest be a part of one OPC at any point at some stage in or following registration.
- an inhabitant of India who is at least eighteen years old, or a major. In addition, the nominee needs to provide the corporation his or her permission to be appointed.
- A Director Identification Number (DIN) must be obtained before any natural person above the age of eighteen (18) can hold a director position in the organization. A foreign individual may also hold the position of director because there are no residency or citizenship requirements specified. The DIN Allotment application and the business formation application are been combined, with a maximum of three DIN allowed.
- A director identification number is a special number that is given to individuals upon application by the Ministry of Corporate Affairs. This makes it possible for anybody to serve as a designated partner in an LLP or a director in any company.
