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What is OPC Registration?
Process to Register
OPC (One Person Company)?
Benefits of OPC (One Person Company) Registration?
Documents Required for
OPC Registration?
Online OPC Registration
through Legalhisaab?
OPC Registration
About OPC (One Person Company) Registration
OPC (One Person Company) registration is a process through which a single individual can register a company under the Companies Act, 2013. OPC is a type of company that has only one shareholder and one director.
Process to Register a OPC (One Person Company)
Here are the steps involved in OPC registration:
- Obtain Digital Signature Certificate (DSC): The first step is to obtain a digital signature certificate for the sole director and shareholder of the company. This is necessary as all the documents for registration are filed online and need to be digitally signed.
- Obtain Director Identification Number (DIN): The sole director of the company must apply for a DIN by submitting the necessary documents to the Ministry of Corporate Affairs (MCA).
- Name Reservation: After obtaining the DSC and DIN, the next step is to reserve a unique name for the company. This can be done online through the MCA portal by submitting an application and paying the necessary fees.
- Filing of Incorporation Documents: The next step is to file the incorporation documents with the MCA, along with the necessary fees and supporting documents. The documents include Form INC-32 (SPICe) (Simplified Proforma for Incorporating Company Electronically), Form INC-33 (e-Memorandum of Association), and Form INC-34 (e-Articles of Association).
- Issue of Certificate of Incorporation: Upon successful registration, the Registrar of Companies (ROC) will issue a Certificate of Incorporation, which confirms the registration of the company.
- Obtaining a Permanent Account Number (PAN) and Tax Account Number (TAN): After obtaining the Certificate of Incorporation, the company must obtain a PAN and TAN from the Income Tax Department.
- Registration for Goods and Services Tax (GST): If the company engages in any taxable supply of goods or services, it must register for GST with the relevant authority.
After the above steps are completed, the OPC will be officially registered and can start its operations. It is important to note that an OPC must be converted into a private or public limited company if it exceeds a certain turnover or has a paid-up capital above a certain threshold.
Benefits of OPC (One Person Company) Registration
The benefits of One Person Company (OPC) registration are as follows:
- Limited liability protection: OPCs offer limited liability protection to the sole owner, which means that their personal assets are protected in case the company faces financial difficulties.
- Separate legal entity: OPCs are a separate legal entity from their owner, which means that they can enter into contracts, acquire assets, and take legal action in their own name.
- Perpetual existence: OPCs have perpetual existence, which means that the company continues to exist even if the owner dies or is unable to manage the company.
- Easy to manage: OPCs are easier to manage than other types of companies as they require only one director and shareholder.
- Access to funding: OPCs can raise funds through various sources, such as loans from financial institutions, angel investors, and venture capitalists.
- Tax benefits: OPCs may be eligible for certain tax benefits, such as deductions for business expenses and reduced corporate tax rates.
Overall, OPC registration provides a number of benefits for individuals who want to start their own business with limited resources and want to limit their personal liability. It provides limited liability protection, separate legal entity status, perpetual existence, easy management, access to funding, and potential tax benefits.
Documents Required for OPC Registration:
1. Nominee & Director’s PAN Card
2. Nominee & Director’s Aadhaar Card
3. Nominee & Director’s Passport Size Photo
4. Nominee & Director’s Voter ID or Passport or Driving License
5. Nominee & Director’s Last 2-month Bank Statement
6. Registered Office Premises Proof: Electricity Bill and NOC
7. Nominee & Director’s Email ID & Mobile Number
8. Business Name
9. Business Activities Details
10. Director’s Capital and Shares
OPC Registration Process by us:
Step 1: Choose a Unique Name of the Company.
Step 2: Arrange all necessary documents.
Step 3: Free Consult with our Professionals
Step 4: Share all required documents with us.
Step 5: Our professionals will prepare the documents to submit the application.
Step 6: Wait for 3 to 4 days for approval.
Step 7: After approval you will get incorporation certificate and other documents.
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Frequently Asked Questions?
An OPC or One Person Company is a type of company that is owned and managed by a single person.
To register an OPC, you must have a single director and a nominee who will become the director in case of the original director’s death or incapacity. You must also have a registered office address and a memorandum and articles of association.
The process of registering an OPC involves filing the necessary documents with the Companies House, including the memorandum and articles of association, statement of capital, and details of the director and nominee director. You will also need to pay the registration fee and provide proof of identification for the director and nominee.
Registering an OPC provides the benefits of a limited liability company and allows an individual entrepreneur to operate and control the business without having to share control or profits with anyone else. It also provides legal protection for the personal assets of the owner.
An OPC has limited scope for expansion and cannot issue shares or invite investments. It also has more restrictions on the appointment of directors and requires a nominee director to be appointed.
An OPC must file an annual return and financial statements with the Companies House, hold a board meeting, and comply with various legal and regulatory requirements, such as the Companies Act.
Yes, an OPC can be converted into an Ltd by passing a special resolution and obtaining approval from the Companies House. However, this process can be complex and may require professional advice.
Yes, an OPC can be dissolved or struck off the register if it ceases to trade, goes into liquidation, or fails to file its accounts and annual returns on time. However, this process can also be complex and may require professional advice.