One Person Company Registration

    - Work handled by professionals
    - Complete Online Process
    - Suitable for person with sole proprietorship business model

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OPC Registration

One Person Company (OPC) registration is forward thinking concept where promotes the incorporation of micro-businesses and persons with entrepreneurial dreams but has no time, resources or means to get more partners to execute the business plan. It can be considered as the combo of Sole proprietorship business model and the normal company legal entity business model, where the OPC company would enjoy the best of two worlds. You can register one person company under the provisions of the companies Act 2013 and the rules thereto, where it was made possible for a single person company to act as a company without the complexity of having partners. Such encouraging more people to come forward to start business. In One Person Company the person has Limited Liability for the shares he hold in the company he/she incorporated while operating an incorporation given in this case there is only sole shareholder.

The primary reason for choosing One person Company (OPC) registration is that the given person has a business idea that needs to be represented in a corporate format and the idea solely can carried out by the same person with limited resources they have. OPC company can have more than one directors, but the shareholder cannot be more than one, and also no person shall be allowed to incorporate more than 1 one person company.

<p>By incorporation of OPC, the company can enjoy the benefits in banking point of via just alike Private limited companies, One Person Companies are eligible for Banking loans, credits and enjoy the benefits of Limited liability company.<br></p>
At Unilex Consultants we provide you a hassle free one person company registration online process which would be dealt by our professionals within a time frame of 10 days and is subjective to governmental processing time. Our team takes care of the documents required for OPC registration and aids in provide you the realistic estimation of one person company registration cost.

Advantages of One Person Company

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LIMITED LIABILITY

Legal protection and a limited liability to the shareholders are the main reason why business registration seek online company registration route.

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CONTINUITY OF EXISTENCE

pvt ltd company registration would exist in succession fashion as the governmental body treats it as a separate entity in terms of law.

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BUSINESS CREDIBILITY -

A One Person company scores better in terms of credibility as it falls under the central government directly unlike other mutual profit organizations.

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LESS BURDEN

As there are less legal Complexity involved in the One Person Company when compared to other registration methods, the person can concentrate more on the niche they belong to improve.

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FUNDRAISING

For a One Person Company it can represent itself in seeding rounds to get investment from the Angel Investors and Venture Capital firms just like how Private limited Company.

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QUICKER ACTIONS

As you there is only one person to take actions and make the calls to what to implement and what not to, the turnaround time is much faster and the execution can be done soon too.

Documentation for one person company registration

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Passport size Photograph

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Copy of PAN Card

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Copy of Electricity Bil

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Sale Deed (if owned)

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Copy of Aadhar Card

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Address Proof (Bank Statement/Mobile/Telephone Bill)

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Copy of rent agreement (if rented)

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NOC

Packages





Note:


opc

Process involved in registering a One Person Company Registration

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1

Getting sorted with Digital signatures

1-2 working days

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2

Applying for the name

2-3 working days

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3

Filling for the incorporation

3-5 working days

Requirements for OPC registration

    - DIN and DSC of all the Directors
    - Minimum 1 Directors
    - Only 1 shareholders
    - One nominee
    - There should be some amount as paid up share capital.
    - At least one Indian resident Director.
    - Registered office address in India.
Sl. No. Particulars Private Limited One Person LLP
1 Eligibility Any individual may form a PLC. Only a natural person who is an Indian citizen and resident in India. shall be eligible to incorporate an OPC. Any individual and body corporate may be a partner in LLP.
2 Taxation Taxed at 30% plus surcharge and cess as applicable. Taxed at 30% plus surcharge and cess as applicable. Taxed at 30% plus surcharge and cess as applicable.
3 Closure/Dissolution/ Winding ups Can be initiated- Voluntarily, or By the Tribunal Can be initiated- Voluntarily, or By the Tribunal Can be initiated- Voluntarily by the partners or; By the Tribunal
4 Existence or Survivability PLC is not dependent on the directors or shareholder. Can be dissolved only voluntarily or by Regulatory Authorities. Existence of an OPC is not dependent on the Director or Nominee Director. Could be dissolved only voluntarily or by Regulatory Authorities. LLP can continue its existence irrespective of changes in partners.
5 Credibility High Medium Medium
6 Statutory Audit Compulsory Compulsory If Contribution > Rs 25lacs or, Turnover > Rs. 40lacs
7 Minimum Requirement Members-2 Directors-2 Member – 1 Director – 1 Nominee of Sole Member – 1 Designated Partners – 2
8 Fund Raising Options High Low Low
Privileges on choosing OPC :

  • - One Person Company registration in flexible in nature offering to represent the company as credible entity.
  • - Eligible for loans from banks as they are represented as a company identity.
  • - No complex process involved as the primary goal is to give simpler steps for encouraging more entrepreneurs to come forward.
  • - No complex process involved as the primary goal is to give simpler steps for encouraging more entrepreneurs to come forward.
  • - The liability is established under the Companies Act of 2013.
  • - Is free from taxation out of the box till 2 crores of turnover.

Mandatory Requirements for One Person Company (OPC) Registration

  • - DIN and DSC of all the Directors
  • - Minimum 1 Directors
  • - Only 1 shareholders
  • - One nominee
  • - There should be some amount as paid up share capital.
  • - At least one Indian resident Director.
  • - Registered office address in India.

Unique Features of single person company

    - One Person Company registration in flexible in nature offering to represent the company as credible entity.
    - Eligible for loans from banks as they are represented as a company identity.
    - No complex process involved as the primary goal is to give simpler steps for encouraging more entrepreneurs to come forward.
    - The liability is established under the Companies Act of 2013.
    - Is free from taxation out of the box till 2 crores of turnover.

FAQs About OPC registration

Who can apply for One Person Company (OPC) Registration ?
Only a natural person who is an Indian citizen and resident in India shall be eligible to act as a member and nominee of an OPC company. The term “resident in India” means a person who has stayed in India for a period of not less than one hundred and eighty two days during the immediately preceding one financial year.
What is OPC ?
OPC is a combination of sole proprietor business and private company. OPC is governed by companies act, 2013, but enjoys many relaxations under the act as compared to other entities.
How to register OPC company?
OPC registration online procedure is same as other form of companies i.e. through SPICE form under companies act.
Whether clause of compulsory rotation of auditors is applicable on OPC?
Provision for compulsory rotation of auditor in section 139(2) are not applicable to OPC as they apply to listed companies and companies belong to such class or classes as may be prescribed (unless central govt. applies it to OPCs through notification).
What are benefits of choosing OPC registration?
They are a single entity model where only one person can be the sole shareholder. Represents the best of both worlds Sole proprietorship and Private limited company It offers limited liability of the shares for the person who incorporated the company. As there is only one person involved in the actual incorporation of the company, the person must be an Indian Residing Citizen in order to establish his or her business as an One Person Company. There is no rule where the minimum capital are defined. Audit it not mandatory in an OPC registered Firm.
Who are not Eligible to be a member of One Person Company?
Minors i.e people under the age of 18 are not valid to be a member or a shareholder or even a nominee. Cannot be a Foreign Citizen. Non Resident. Person incapacitated to contracts.
What are the guidelines for selecting a name of a company?
The actual name and the object of the company can differ and there are no rules that specify that they should be targeted for the same consonance. The Promoter have the option of using their initials as the name of the company which also could be abbreviated. The company name can be standard and is not required to change with the change in business. No NOC is required if any person name is used.
What are unique features of One Person Company (OPC)?
OPC can representative and registered in the ways of Private Limited Company. Only one person can be the shareholder in the company. One Person Company (OPC) may be either a company limited by share or a company limited by guarantee or an unlimited company The company name would be follower by OPC tag at the end. There must be a nominee present for the incorporating person. The person must be a citizen of India
How to convert an OPC into a private limited company?
OPC can be voluntary converted to a private company by form INC-6, if it crossed 2 crore turnover or 50 lac paid up capital in any financial year then conversion is mandatory.

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