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OPC Registration

A one person company is a company which contains exactly one member. It is a separate legal entity from its promoter and the promoter has limited liability.

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Entrepreneurs who are capable of starting a venture on their own can make use of one person company (OPC) in India. In one person company, there is only one shareholder who is an Indian citizen and Indian resident i.e. stayed in India for at least 182 days in the preceding year. Shareholder nominates another person as a nominee in case of death or incapacity of the shareholder. One person company was introduced in the companies act 2013 to encourage self-employment. You can not incorporate more than one person company or be a nominee of more than one OPC. Rules of OPC company do not permit Non-Banking Financial Institutions.

A one person company is a company which contains exactly one member. It is a separate legal entity from its promoter and the promoter has limited liability.

 Entrepreneurs who are capable of starting a venture on their own can make use of one person company (OPC) in India. In one person company, there is only one shareholder who is an Indian citizen and Indian resident i.e. stayed in India for at least 182 days in the preceding year.

Shareholder nominates another person as a nominee in case of death or incapacity of the shareholder. One person company was introduced in the companies act 2013 to encourage self-employment. You can not incorporate more than one person company or be a nominee of more than one OPC. Rules of OPC company do not permit Non-Banking Financial Institutions.

An affidavit from every subscriber of the memorandum (i.e. members) and first directors, if any, that they have not been convicted of any offence in relation to the formation or management of any company, or have not been found guilty of any fraud or any breach of duty to any company during preceding five years. One Person Company in India is a separate legal entity from its promoter, offering limited liability protection to its sole shareholder.

Identity proof of director and nominee(PAN card)

Address proof of director and nominee(Aadhar card, Driving Licence, Electricity bill, Passport)

Address proof of office (Rent agreement or sale deed, electricity bill, property tax receipt)

NOC from landlord

DSC and DIN of director

Passport photo of director

Status of a separate legal entity: An OPC registration in India receives the status of a separate legal entity. Here the liability of the member is limited to his or her shares and he or she is not personally liable for the losses that are incurring.

 Easy to obtain funds: As One Person Company is a separate legal entity it is easy to raise funds through venture capitals, angel investors, incubators, etc. One Person Companies get loans easily than a proprietorship firm. It is very easy to obtain funds.

  Fewer Compliances: There are certain exemptions to the OPC when it comes to compliances under the Companies Act, 2013. There is no need for the Company Secretary to sign the books of accounts and annual returns and is to be signed only by the director.

Easy Incorporation: It is easy to incorporate an OPC as only one member and one Nominee are required for the incorporation. The member can be the Director too. For incorporating an OPC in India the minimum paid-up capital required is Rs.1 lakh. Thus, it is easy to incorporate a One Person Company as compared to other forms of the entity.