One Person Company Registration


Ideal for entrepreneur who have alone started a venture.

Ideal for entrepreneur who have alone started a venture.

Starting At

Rs. 12,499 only(All Inclusive)

SAVE 50% COST!!!

(Takes 10-20 days)

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875-000-8585
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KNOW ALL ABOUT OPC REGISTRATION

OPC REGISTRATION?


The idea of One Person Company (OPC) in India was introduced to give a boost to entrepreneurs who have great potential to start their own venture by allowing them to create a single person company. Since, no intervention from any third party is seen, it makes it more beneficial. So, if you want to start up your own business, you don’t have to worry about all the complex and tedious processes.

One Person Companies are helping tremendously in increasing the overall economy of India. More and more Entrepreneurs are coming up and setting up their business. Since, no intervention from any third party is seen, it makes it more beneficial.

One Person Company, which is a new concept in India, already sees a big boom. A huge impact on the economy and development of nation is expected. It gives opportunities to many and will therefore bring creative and young minds in front of everyone. So, if you want to start up your own business, you don’t have to worry about all the complex and tedious processes.

Choose OPC because

  • Only one member is required.
  • Unaffected by death of member or change in ownership.
  • Easy to set up and maintain comparatively.
  • Limits the liabilities of its members
  • Minimal Paperwork is required.
  • Can act as Stockbroker or Sub-broker
  • Not many compliances

WHAT IS INCLUDED IN OUR PACKAGE?


DIN for 1 Director

Digital Signature For 1 Director

Name approval

MOA/AOA

ROC registration Fees

Company Pan Card

PROCEDURE FOR OPC REGISTRATION?


DOCUMENTS REQUIRED FOR OPC REGISTRATION?


Copy of PAN Card of owner

Passport size photograph of owner

Copy of Aadhaar Card/ Voter identity card

Copy of Rent agreement(If rented property)

Electricity/ Water bill (Business Place)

Copy of Property papers(If owned property)

Landlord NOC (Format will be provided)

WHY OPC REGISTRATION?


Limited Liability

Separate Legal Entity

Uninterrupted Existence

Borrowing capacity

MINIMUM REQUIREMENTS FOR OPC REGISTRATION


One Shareholder

One Director

One Nominee

One Person

WHAT IS A OPC?


A One Person Company is a company with a single member.It was introduced by the Companies Act, 2013. OPC extends the concept of limited liability to a company run by a single person. It is similar in respects to a private limited company with certain differences like fewer compliances and relaxation of certain restrictions. Thus, an OPC is subject to all the provisions of the Act like a private limited company unless expressly excluded.

ELIGIBILITY FOR OPC REGISTRATION


Only a natural person who is a citizen of India and resident in India:

a) Is eligible to incorporate an OPC

b) Is eligible to be a nominee for the sole member of an OPC.

A Resident of India is a person who has stayed in India for at least 182 days in the preceding 1 year.

If an OPC exceeds a turnover of over Rs.2 crore or has a paid-up capital above Rs.50 lakhs, it must be turned into a private or public limited company within six months

STEPS FOR INCORPORATION OF OPC


Step 1. Obtain DSC and DIN:The proposed directors must obtain a Digital Signature Certificate(DSC) from 8 authorised DSC makers.

Step 2. Reservation of name:An application for the reservation of a suitable name must be made in Form No. INC-1.

Step 3. Entrenchment Provisions:In case the articles of association contain provisions for entrenchment, the company must inform the Registrar of such provisions in Form No.INC-2 at the time of incorporation of the company or in case of existing companies (by amendment of the articles of association), the same must be filed in Form No.MGT-14 within 30 days from the date of entrenchment of the articles.

Step 4. Articles of Association:Model articles of association have been provided in Tables F, G, H, I and J of Schedule I, as are applicable, and can be adopted by a company either in totality or otherwise.

Step 5. Application for incorporation of OPC:An application must be filed, with the Registrar of Companies(ROC) within whose jurisdiction the registered office of the company is proposed to be situated, in Form No.INC-2.

Step 6. Signing of Memorandum and Articles of Association: The MOA and AOA of the company must be signed by the sole member who is also the subscriber to the memorandum, who must give details of his name, address, description and occupation, if any, in the presence of at least one witness who must also attest the signature and must also sign and give his details.

Step 7. Affidavit of Subscriber and the director: The affidavit must be submitted by sole member who has subscribed to the memorandum and named in the articles in Form No.INC-9.

Step 8. Particulars of Subscriber: The sole member must file the particulars of subscription with the Registrar at the time of incorporation.

Step 9. Nomination by the sole member:

(1) The subscriber to the memorandum of a One Person Company must nominate a person, after obtaining prior written consent of such person, who shall, in the event of the subscriber’s death or his incapacity to contract, become the member of that One Person Company.

(2) The name of the person nominated shall be mentioned in the memorandum of One Person Company and such nomination in Form No INC-2 along with consent of such nominee obtained in Form No INC-3.

Step 10. Declaration by professionals: The declaration by an Advocate, a Chartered Accountant, a Cost accountant or Company Secretary in practice shall be in Form No. INC-8.

OR

Online Filing of OPC:

The Ministry of Corporate Affairs (MCA) has issued an integrated incorporation form INC-32. So now, an OPC can be incorporated online by filling the Simplified Proforma for Incorporating Company Electronically (SPICe) form in Form INC-32 (using Digital Signature Certificate of the Director)along with (eMOA) in Form INC-33 and (eAOA) in Form INC-34.

EXEMPTIONS FOR AN OPC


  • Sign on annual returns.
  • Hold Annual General Meetings and Board Meetings.
  • Sign on Financial Statements.
  • Option to dispense with the requirement of holding an AGM.
  • Power of Tribunal to call meetings of members.
  • Calling of extraordinary general meeting.
  • Notice of meeting.
  • Statement to be annexed to notice.
  • Quorum for meetings.
  • Chairman of meetings.
  • Proxies
  • Restriction on voting rights.
  • Voting by show of hands.
  • Voting through electronic means.
  • Demand for poll.
  • Postal ballot.
  • Circulation of members’ resolution.

CONCERNS RELATED TO OPC REGISTRATION


  • Minimum authorised share capital required for One Person Company having share capital is Rs.1,00,000/-.
  • Minimum and maximum number of members for One Person Company is one only.
  • The subscriber to the Memorandum must make the payment for the total amount of shares subscribed by him to the company upon incorporation.
  • It is a separate legal entity yet only one person is responsible for the workings of the company. A total contrast from what Sole Proprietorship offers.
  • There can be only one member at a time. However, one nominee is mandatory to be appointed. This member and nominee cannot be a minor.
  • An OPC can be limited by guarantee or limited by shares or unlimited company.
  • An OPC limited by shares must comply with following requirements:

    Must have a minimum [paid up share capital of INR 1 Lac.

    Shares will not be allowed to be transferred to anyone else.

    An OPC is prohibited from giving any invitations to public to subscribe for the securities of the company.

  • No OPC can voluntarily convert into any other kind of company within two years from the date of incorporation of One Person Company, except when the threshold limit of paid up share capital, being fifty lakh rupees, is crossed or its average annual turnover during the relevant period exceeds two crore rupees.
  • An OPC cannot convert into a company registered under OPC.
  • An OPC is required to give a legal identity by specifying a particular name under which the activities of the company can be carried on. The words ‘One Person Company’ must be mentioned below the name of the company, wherever the name is affixed, used or engraved.
  • An OPC is subject to the same taxes as a Private Limited Company.
  • When an OPC limited by shares or by guarantee enters into a contract with the sole member of the company, who is also the director of the company, the terms of contract or offer must be recorded in writing or contained in a memorandum or recorded in the minutes of the Board meeting held next after entering into the contact.
  • An OPC must Inform the Registrar about every contract entered into by the company with the sole member of the company within a period of fifteen days from the date of approval.

FACTORS TO CONSIDER IN OPC NAME SELECTION


The name of your OPC is very important. Your OPC’s name is the first impression to your buyers, suppliers and stakeholders. It should therefore be attractive, relevant and suggestive. There are several factors that you should keep in mind while choosing a name for your company.

Short & Simple

The name should be concise and not be too long. People should be able to recall and pronounce your company’s name easily the first time they hear or read it.

Meaningful

The name of your OPC should be relevant to your business. It should fit the company’s branding strategy. For example, Infosys refers to information systems or IT technologies.

Unique

Name of your OPC should not be exactly the same or identical to an existing LLP or company or trademark or for which a trademark has been applied for. You can go to search.legalraasta.com to check if your company name matches any others. Ideally, you should avoid plural version e.g, “Snapdeals” or merely changing the letter Case or punctuation marks or spacing in an existing LLP, Company and Trademark name.

Suffix

OPC’s are not required to end their name with “Private Limited” or “Limited”.

Should not be illegal / offensive

The name of your LLP should not be against law. It should not be abusive or against the customs and beliefs of any religion and should not use words or phrases which are used as a slur and are offensive to a particular group of people. Further, names cannot include foul words or phrases.

Should not violate any laws

Your OPC’s name should not be given under and violate the Emblems and Names (Prevention of Improper use) Act, 1950. Click here to check the names. (See the Schedule).

Should not use the words “British India”.

FREQUENTLY ASKED QUESTIONS


1. How many people are required to start One Person Company?
-At least one nominee is required to start an OPC who can act as shareholder as well as director.
2. Who can become a member in One Person Company?
-Any individual/organization can become the member of One person company including foreigners/NRI’s.
3. For incorporation of One Person Company do I have to be present in person?
– The entire procedure is 100% online and you don’t have to be present at our office or any other office for incorporation. A scanned copy of documents has to be sent via mail.
4. Are there any other payments to be made for incorporation certificate in addition to fee paid at the time of registration?
-There is absolutely no other payment. We will send you an invoice that is all-inclusive, with no hidden charges.
5. How much money do I need to invest upfront to start the business?
-You need to have a bank account with a minimum balance. This could be as little as Rs. 5000. You don’t need to invest any more capital to start the business.
6. Should I incorporate a Private Limited Co. Instead?
-A lot of people considering an OPC registration go with the private limited company structure because it is mandatory to convert an OPC to a private or public limited company if turnover is over Rs. 2 crore or paid up capital is over 50 Lakhs.
7. What are the compliance requirements under OPC?
  • An OPC limited by shares must comply with following requirements:

    Must have a minimum [paid up share capital of INR 1 Lac.

    Shares will not be allowed to be transferred to anyone else.

    An OPC is prohibited from giving any invitations to public to subscribe for the securities of the company.

  • When an OPC limited by shares or by guarantee enters into a contract with the sole member of the company, who is also the director of the company, the terms of contract or offer must be recorded in writing or contained in a memorandum or recorded in the minutes of the Board meeting held next after entering into the contact.
  • An OPC must inform the Registrar about every contract entered into by the company with the sole member of the company within a period of fifteen days from the date of approval.
8. What are the compliance exemptions for an OPC?
– An OPC is exempted from doing the following compliances:

  • Sign on annual returns.
  • Hold Annual General Meetings and Board Meetings.
  • Sign on Financial Statements.
  • Option to dispense with the requirement of holding an AGM.
  • Power of Tribunal to call meetings of members.
  • Calling of extraordinary general meeting.
  • Notice of meeting.
  • Statement to be annexed to notice.
  • Quorum for meetings.
  • Chairman of meetings.
  • Proxies.
  • Restriction on voting rights.
  • Voting by show of hands
  • Voting through electronic means.
  • Demand for poll.
  • Postal ballot.
  • Circulation of members’ resolution.
9. In which cities does LegalRaasta incorporate OPC?
– LegalRaasta provides OPC incorporation services across India in all cities. We have done OPC registration in Mumbai, Delhi, Gurgaon, Noida, Bangalore, Chennai, Hyderabad, Ahmedabad, Kolkata, Surat, Pune, Jaipur, Lucknow, Kanpur, Nagpur and other Indian cities
10. Why should I choose LegalRaasta for OPC registration?
– Legalraasta.com is one of the best online service portals to help register OPC’s in India. We have 10 years of experience in application of OPC registration. LegalRaasta has 30+ regional offices in India and expand its network in India with 2000+ customers for OPC Company.

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30+ Offices in India

10+ Years Experience

Economical and Fast

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