One person Company Registration

The meaning behind One Person Company (OPC)

A Person Company is a company solely owned by one shareholder. As the sole shareholder, the OPC is a person that is an Indian citizen, as well as a resident Indian. While, as its sole owner the shareholder is entitled to take all the earnings and profits from the OPC, his liabilities to the company are limited to the unpaid part of the capital that he has subscribed. There is no minimum amount of paid-up capital required for setting in place for the OPC to be established in India. But The Companies Act 2013 prescribes a maximum capital investment of Rs. 50 lacs as well as a maximum annual turnover of. 2 crores to get OPC registration.

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OPC Registration in India.

Important decisions needed to begin a Person Company

Proposed Business Activity.
Name that is proposed for the OPC.
Capital amount authorized.
The amount of Paid Up Capital.
The principal location of the business.
Directors who are the first to be appointed by the OPC.

List of Checklists to be used for One Person Company Registration

To be eligible for One Person Company registration in India You must first meet certain requirements, according to the Companies Act 2013. These requirements are related to ownership number, the number of directors, and the name of the address, capital, and the name of the business. If you do not meet these requirements it is not possible to proceed with OPC incorporation in India. The complete list of requirements has been listed as follows:

Checklist to help with OPC Registration There is only one shareholder who's an individual living in India and an Indian citizen.

At least one resident director.
An address for business registration.
A valid and unique name for the company.
An address registered for the principal location of the business.
A certain amount of capital was invested in the business.

Stepwise procedure for OPC enrollment in India

One-Person Company Registration in India is a need in the Companies Act, 2013. The process for online OPC registration starts by applying with the Registrar of Companies, along with the required documents. The application may be verified by any member of the business using the Digital Signature Certificate. When the application is submitted the Registrar will review the application thoroughly. If he is satisfied with the application as well as the documents submitted. he will be able to register OPC and issue the Certificate of OPC registration online in less than one week.

Step 1- Documentation

Documentation plays a crucial function in OPC Registration. The principal documents for the director who is applying such as PAN and ID proof and proof of address are required to be presented along with recent utility bills. such as a water bill, electricity bill, or phone bill for the business address registered and an official certificate from the owner of the property. The list of required documents to be submitted for OPC registration is provided below for your convenience.

Step 2 - Choosing the name for OPC Registration

It is important to note that the requirements for a suitable name for a business are outlined within the Companies Act, 2013. A company's name company must be distinctive and not be the same as the name of a company or LLP. Additionally, it must not be like any registered or applied trademark. Because it is the case that an OPC can be registered under the name of a private limited corporation. its name cannot include words that show that it is a patron of the government and is "undesirable" according to the view of the government. To find out if there are suitable names, you may sign up for the Name Search service and also.

Step 3 - Request the DSC of the director applying for the job

DSC can be described as the digital counterpart of a physical signature. It is issued under the Information Technology Act. To be eligible for One Person Company registration, the application that is filed using the ROC must be authenticated by the director of the company who applied for it with a digital signature certificate only. So, we can conclude that the procedure of filing applications for OPC Registration begins with the creation of the signature of the director who is applying for registration for the Company.

Step 4. Name Approval to Register for OPC Registration

If you've chosen an appropriate company name for your Person Company, you will need to register it through the Office of the Registrar of Companies. To do this you may either submit the RUN application or Part A of the SPICe+ application to apply for OPC registration. The RUN application offers two possibilities for resubmission after the names suggested in the application are invalid. PART A part of the SPICe+ application provides only one possibility of resubmission even if the names suggested in the application are invalid. Two names can be proposed for each application, in RUN and the SPICe+ PART A.

Step 5 - Spice Application Filing for ROC to apply for OPC Registration

After approval that the OPC's name is approved OPC, The applicant will then be able to begin to apply for OPC registration. which is available in Part B. SPICe and application? It is required to provide the basic information about the OPC which includes its address, name, and DIN of directors and shareholders, and the names of all shareholders. the capital of the company, planned business operations of the business, etc, After you have filled in the necessary information then you can upload the required documents to support the application, and then sign the application with the director's DSC. The application should be submitted to the Registrar of Companies.

Step 6: Issuance Of Certificates of OPC Registration and the allocation of CIN

The last step in the OPC registration is the issuance of the Certificate for OPC Registration following confirmation of all information provided and the documents. that is attached to the application. This Certificate given by the OPC is conclusive proof that the ROC has completed the single-person registration of a company online. Alongside this Certificate of OPC Registration, the ROC also issues an ID Number for Corporate to the OPC to ensure its identity.

Step 7: PAN & TAN Number for the OPC

After receiving your Certificate of Registration immediately following receipt of the Certificate of Registration, the Department of Income Tax allots PAN and the TAN for the OPC. These documents are needed to meet tax-related compliances. Too, while PAN is required for the payment of income tax and the filing of the ITR form, TAN is the part that allows OPCs to collect and deduct taxes at the source. It is important to note that the PAN along with the TAN numbers appears on the OPC Registration Certificate. OPC Registration is given to the OPC and, following that, the e-Pan and eTan documents are sent to the email address of the user.

Documents needed to be submitted for OPC registration in India

The documentation required to be submitted for OPC Registration in India is classified into the official documents of the director applying for the registration. as well as the documentation of the office space, and finally, the corporate documents themselves. Below is a detailed listing of all the necessary documents needed to be submitted for OPC registration. If you fail to submit all these documents may result in the denial or denial of the application to OPC registration ROC.

Documents of the director applying to be

Passport Size Color Photograph, Pan Card

Identity Evidence: (any one document)

Passport, Voter ID, Driving License, Aadhar Card

Address Evidence: (any one document)

Telephone Bill, Gas Bill, Electricity Bill.

Bank Statements not older than 2 months

The documents of the Registered Business Address

Address proof:

Telephone bill, Electricity bill, Water Bill

Gas Bills that are not more than two months

There is no objection Certificate (NOC) from the Owner

NoC Download Format

Legal Drafts

Memorandum of Association

Articles of Association

SSC Sheet for Signed Subscribers

Questionnaire For Company Registration

Frequently Asked Questions

A Person Company is a sole owner company that is like a Proprietorship Company. But, unlike a proprietorship and a proprietorship. The responsibility of the sole shareholder of an OPC is restricted to the amount unpaid of capital the shareholder has signed up to. Furthermore, unlike a proprietor an OPC's sole shareholder an OPC is not involved in the administration of the business since managing the company is directed by the director, who is chosen from the shares of the owner. We have compiled a thorough and comprehensive chart of comparison of all kinds of companies, to give you a greater understanding.

An OPC is inherited by any nominee for the shareholders following his death or demise. Every next owner of an OPC must select an individual nominee within the first 24 hours after that he has the title of the OPC. A person cannot be appointed a nominee until they have given their consent to be one. The nominee's agreement together with the notification of appointment should be sent to the Registrar of Companies in Form INC 3.

The OPC could be able to achieve an annual turnover that can reach Rs. 2 Crores. When the limit for turnover is higher than the amount of this limit and the OPC will need to be changed to an open or private limited company.

The nominee for OPC's shareholder OPC should be an individual who is an Indian native Indian as well as an Indian citizen. which signifies that no non-Indian individuals or non-resident Indians or body corporate may be named as nominees for an OPC?

Limited Liability means that the shareholder or the owner in the OPC will not be personally responsible to settle the outstanding debts and obligations of the business. Furthermore, his obligation to the company is limited to the unpaid part of the capital that he signed up to.

Company Registration

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