One Person Company is a unique concept introduced by the Ministry of Corporate Affairs in order to encourage the small traders and entrepreneurs. One of the major advantages of a OPC is that there can be only one member in a OPC, where as a minimum two members are required for incorporating and maintaining a Private Limited Company or a Limited Liability Partnership. Similar to a Company. A natural person, who is a citizen of India, shall be eligible for registering a One Person Company. Also the person should be resident of India. This is the fundamental concept of a One Person Company. In fact, One Person Company is defined in the Companies Act as a Company which has only one member. A single shareholder holds 100 percent shareholding.One person can form a company without any additional shareholder, and if the member is willing to add shareholders, all he needs to do some procedural compliances to convert OPC in to a regular private limited company and file it before MCA.
It’s now very easy to start one person company and it can all be done online. Now you can start a limited liability partnership in few days. What’s more, the cost of incorporating is an allowable expense against corporation tax.
One Person company is a separate legal entity and capable of doing everything that an entrepreneur would do.As per the Companies Act, if nothing is mentioned in the incorporation document, it would be assumed the sole shareholder shall also be the sole director
One Person Company have to face minimum compliance burden as compared to private limited companies , hence One Person Company can more focus on other functional and core areas.
One Person Company is a Private Limited Structure; this is the most popular business structure in the world. Gives suppliers and customers a sense of confidence in business and helps to retain them by giving corporate designations.
Banking and financial institutions prefer to lend money to the company rather than proprietary firms. It is better to register your startup as a One Person Company rather than proprietary firm.
You, only the owner helpful in quick decision-making, controlling and managing the business without following any elongated processes and methodologies as adopted in other companies. The sense of belonging inspires to grow the business further.
A company registered by a single person, in which only one shareholder and Director will be present. Apart from that one nominee has to be appointed.
Make sure that proposed name is not similar to existing private limited company or LLP or OPC or Public company. Also ensure that proposed name is not a registered trademark taken by anybody under IP act.
As as name defines only one person required to start one person company.
Yes, it can be converted into Private Limited Company, if the One Person Company has exceeded the threshold limit by filing necessary forms.
Startup Setupcan register OPC within 15 to 20 days of time. But the documents submitted should be as per our requirements and also within time. If there is any delay in submitting the docs the mentioned time frame may change.
Minor – A minor cannot even hold beneficial interest in OPC.
Overseas Citizen of India.
Non Resident Indian.
To Start a OPC quickly, make sure the proposed name of is very unique. Names that are similar to an existing private limited company / limited liability partnership can be rejected and extra time will be required for resubmission of names
The minimum capital requirement is Rs. 1,00,000/- to start OPC
A Director is the person who manages and control the affairs of the company. A Director is the brain of a Company. They occupy a pivotal position in the structure of the company. Directors take the decision regarding the management of a company collectively in their meetings known as Board Meetings.
A Digital Signature establishes the identity of the sender or signee electronically while filing documents through the Internet. The Ministry of Corporate Affairs (MCA) mandates that allDesignated Partners to apply with a Digital Signature for Designated Partner Identification Number.
Send us necessary documents required for OPC incorporation our expert will advise on same.
Digital Signature Certificate and DIN is required for proposed OPC Incorporation. DIN and DSC can be obtained for proposed OPC in 1-2 working days.
Our Expert Team will prepare necessary documents such as AOA , MOA with required teams and conditions as per your business need. Name approval & documents approval takes time of 5-6 days.
Our Expert Team make application of OPC incorporation to ministry of corporate affairs . After application in 5-6 working days MCA issue certificate of incorporation. Subject to Approval of MCA
Our experienced team of professional and help you in deciding and incorporating Private Limited, LLP, One Person Company, proprietary firm and other business entities. We advise on complete one roof services for business registrations.
We are a team of expert’s offering Business Taxation Services in direct and indirect taxation to the manufacturers, Traders, Dealers and service providers of the industry for all taxation in India. Effective tax planning helps to reduce pricing.
Indian companies and LLP are require do comply with various statutory provisions by filling return with MCA. Our teams helps for timely filling of compliance. Timely filling of returns avoid late filling penalty.