OPC Registration ( One Person Company) at 3999 2018-05-23T12:48:23+00:00

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What is OPC Registration ?

A new concept has been introduced in the Company’s Act 2013, about the One Person Company(OPC). In a Private Company, a minimum of 2 Directors and Members are required whereas in a Public Company, a minimum of 3 Directors and a minimum of 7 members. A single person could not incorporate a Company previously.
But now as per Section 62 of the Company’s Act 2013, a company can be formed with just 1 Director and 1 member. It is a form of a private company but the compliance requirements are lesser than that of a private company.One Person Company (OPC) concept allows single founders to enjoy the status of a company. Forming a OPC helps to have full control over affairs of the business while keeping the liability limited.

Though a One Person Company(OPC) allows a lone Entrepreneur to operate a corporate entity with limited liability protection, a OPC does have a few limitations. For instance, every One Person Company (OPC) must nominate a nominee Director in the MOA and AOA of the company – who will become the owner of the OPC in case the sole Director is disabled. Also, a One Person Company must be converted into a Private Limited Company if it crosses an annual turnover of Rs.2 crores and must file audited financial statements with the Ministry of Corporate Affairs at the end of each Financial Year like all types of Companies. Therefore, it is important for the Entrepreneur to carefully consider the features of a One Person Company prior to incorporation.Furthermore, if an OPC hits an average three-year turnover of over Rs. 2 crore or has a paid-up capital of over Rs. 50 lakh, it must be turned into a private limited company or public limited company within six months.

Choose OPC Registration as :-

opc registration

There are a number of exemptions available for One Person Company (OPC)which are as follows:-
• Sign on annual returns.
• Hold Annual General Meetings and Board Meetings.
• Sign on Financial Statements.
• Option to dispense with the requirement of holding an AGM.
• Power of Tribunal to call meetings of members.
• Calling of extraordinary general meeting.
• Notice of meeting.
• Statement to be annexed to notice.
• Quorum for meetings.
• Chairman of meetings.
• Proxies
• Restriction on voting rights.
• Voting by show of hands.
• Voting through electronic means.
• Demand for poll.
• Postal ballot.
• Circulation of members’ resolution.

Advantages Of OPC Registration

  • Compliance burden
    The One person Company (OPC) incorporates into the meaning of “Private Limited Company” given under section 2(68) of the Companies Act, 2013. Subsequently, an OPC will be required to conform to procurements relevant to private limited companies. On the other hand, One Person Company has been given various exclusions and in this way have lesser compliance related burden.
  • Perpetual Succession
    An One person Company being an incorporated entity will likewise have the component of perpetual succession and will make it simpler for entrepreneurs to raise capital for business. The OPC is an artificial entity from its proprietor. Creditors should therefore be warned that their claims against the business can’t be squeezed against the proprietor.
  • Simple to Get Loan from Banks
    Banking and financial institutions prefer to lend money to the company instead of proprietary firms. In a large portion of the circumstances, the entrepreneurs to convert their firm into a Private Limited company before authorizing funds. So it is ideal to register your startup as an One Person company rather than proprietary firm.
  • Annual return filing
    One Person Company’s yearly return is required to be signed by a director. The mandatory requirement of Company Secretary Signature is not applicable to OPC.
  • No prerequisite to hold annual or Extra Ordinary General Meetings
    Just the resolution might be conveyed by the member from the organization and entered in the minutes book and signed and dated by the member and such date should be considered to be the date of meeting.
  • Board Meeting
    An One Person Company might lead at least one meeting of the Board of Directors in every 50% of a calendar year and the gap between the two meetings shall not be less than ninety days.

Minimum Requirements For OPC Registration

Minimum 1 Shareholder
Minimum 1 Director required
The director and shareholder can be same person
Minimum 1 Nominee
Minimum Share Capital shall be Rs 1

Procedure For OPC Registration

Documents Required For OPC Registration

Identity and Address Proof:
Identity and the address proof will be needed for all the directors and the shareholders of the company to be incorporated. In case of an Indian national, PAN card is mandatory. For the foreign nationals, apostilled or notarised copy of the passport has to be submitted mandatorily. All documents submitted should be valid. The residence proof documents like the bank statement or the electricity bill must be less than 2 months old.

Registered Office Proof:
All companies should have a registered office in India. To prove admittance to the registered office, a recent copy of electricity bill or gas bill or water bill or telephone bill must be submitted. Along with the rental agreement, utility bill or the sale deed and a letter from the landlord with her/ his consent to use the office as a registered office of the company should be submitted.

List of documents to be submitted by the Director and the Shareholders:
Scanned copy of PAN Card or Passport (Foreign Nationals & NRIs)
Scanned copy of Voter’s ID/Passport/Driver’s License
Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
Scanned passport-sized photograph
Specimen signature (blank document with signature [directors only])
Note: Any one of the directors must self-attest the first three documents. In case of foreign nationals and NRIs, all the documents must be notarised (if currently in India or a non-Commonwealth country) or apostilled (if in a Commonwealth country).

For the Registered Office:
Scanned copy of Latest Telephone or Electricity or Gas Bill or Water bill
Scanned copy of Notarized Rental Agreement in English
Scanned copy of No-objection Certificate from property owner
Scanned copy of Sale Deed/Property Deed in English (in case of owned property)
Note: Your registered office need not be a commercial space; it can be your residence, too.

What are factors one should consider in selecting the company name

The name of the company is very important. It is considered the first impression for the suppliers, buyers and the stakeholders. It must, therefore, be suggestive, relevant and attractive. There are various factors that one must keep in mind while naming the company.

It must be short & simple:
The name must be concise and not be too long. People should be able to say it easily and they should be able to recollect your company’s name the first time they read it or hear it.

It must be meaningful:
The name of the company should be related to the business. It must fit the company’s branding.

It must be unique:
The name of the company mustn’t be the same or identical to an already existing company or a trademark. One must preferably avoid the plural version.

Add Suffix:
The name of the company must end with the suffix “Private Ltd” in a case of a Private limited company and “LLP” in case of a limited liability partnership.

It shouldn’t be illegal / offensive:
The name of the company shouldn’t be against the law. It shouldn’t be abusive or against customs and the beliefs of any religion.

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Compare Your Options

Basic

8998*
  • OPC Registration
  • ROC Filing

Standard

21998*
  • OPC Registration
  • Annual Compliances for PVT LTD
  • Turnover upto 10 Lakhs

Deluxe

9997*
  • OPC Registration
  • GST Registration
  • Professional Tax Registration

Popular

11496*
  • OPC Registration
  • GST Registration
  • Professional Tax Registration
  • Trademark

Ultimate

16495*
  • OPC Registration
  • GST Registration
  • Professional Tax Registration
  • Trademark
  • ISO Certification

*Consultancy fees
(government fees will be on actual)

FAQ

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.
For the above purpose, 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.
A person can be a member of only one OPC.
There is no specific tax advantage to an OPC over any other form. The tax rate is flat 30%, other tax provisions like MAT & Dividend Distribution Tax applies as they apply to any other form of company.
In case the paid-up share capital of an OPC exceeds fifty lakh rupees or its average annual turnover of immediately preceding three consecutive financial years exceeds two crore rupees, then the OPC has to mandatorily convert itself into a private or public company.

These documents contain the rules, vision and mission of your organisation, and define, among other things, the exact business and the roles and responsibilities of shareholders and directors

When a One Person Company gets incorporated, it cannot convert itself to Private or Public company for a period of not less than two years from the date of incorporation.If the time period has elapsed and two years time period is over, a One Person Company can apply for converting itself to Private Limited Company or Public limited company.The Conversion process should be done as per the rules and regulations laid down by the Companies Act, 2013 under Section 18, and Rule 7(4) of the Companies (Incorporation) Rules, 2014

The basic mandatory compliance are:-
• Maintenance of proper books of accounts
• Statutory audit of Financial Statements
• Filing of business income tax return every year before 30th September
• Filing Annual ROC return which includes form MGT

• A minor shall not eligible becoming a member
• Foreign citizen
• Non Resident
• Any person incapacitated by contract

Registrationarena can incorporate a One Person Company in 7- 12 days. The time taken also depends on the relevant documents provided by the applicant and the speed of approvals from the government. To ensure a speedy registration, kindly pick a unique name as the proposed Company name and also ensure that you have all the required documents prior to the starting of the registration process.

Mandatory Conversion of One Person Company (OPC) to Private Limited Company (PLC) is required in case a One Person Company meets certain parameters, like:
a) Effective date of increase in the paid-up share capital of a One Person Capital beyond rupees fifty lakhs, AND
b) An increase of average annual turnover during the period of immediately preceding three consecutive financial years is beyond rupees two crores.
In the above case, the One Person Company shall be mandatorily required to convert itself into either a private or a public company Within a Period of Six Months. In this article, we look at the procedure for conversion of one Person Company into a private limited company or limited company

The entire procedure is done online and one does not have to be present at our office or any other place for the incorporation. A scanned copy of the documents have to be sent via mail. The incorporation certificate is received from mca on the registered email id of the applicant.

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Why Registration Arena

On Time Delivery

Just tell us a few details about your brand and we’ll process your application. In three working days, you’ll be ready to use the symbol alongside your brand name.

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We make your interaction with government as smooth as is possible by doing all the paperwork for you. We will also give you absolute clarity on the process to set realistic expectations.

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Our team of experienced business advisors are a phone call away, should you have any queries about the process. But we’ll try to ensure that your doubts are cleared before they even arise.

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