The One Person Company Registration is a business structure that allows a single person to start and run a company. It’s a legal entity separate from its owner, providing liability protection to the owner while allowing them to manage the company successfully. It is a new concept introduced with the company’s Act 2013. OPC has the benefits of a sole proprietorship, and it requires lesser compliance needs than a private limited company. OPC can be registered with just one member or one director, whether he or she is a resident or non-resident Indian start an OPC in India.
What are the benefits of OPC company?
- Easy to set up and manage
- Needs minimal maintenance
- Taxation rebates
- Better operational control and low-cost operations
- Ideal for small start-ups or small businesses
- Receive interest on even late payments
- Limited liability
- Easy and hassle-free funding
How do we help you with OPC registration?
The experts and legal professionals at Darshan Corporate Pvt Ltd specialize in company registration and compliance in India. Our team guides you at every step and ensures that all the legal requirements are optimally fulfilled, and there should be no pitfalls while registering with OPC. We help you to proceed with flawless and hassle-free registration. We provide reliable services with step-by-step guidance to our clients. Contact us now to get a free consultation for OPC registration with ease.
What are the necessary documents required for OPC registration?
- PAN card, voter ID card, and Aadhaar card of the director.
- Utility bills i.e. telephone bill or electricity bill
- Bank statement
- Sale Deed copy
- Rent/ lease agreement
- MOA & AOA
- Passport-sized photo
Procedure to register with One Person Company:-
- Obtain DIN & DSC: Obtain the Digital Identification Number and Digital Signature Certificate which are necessary documents required during registration.
- Draft Memorandum and Articles of Association: MOA and AOA outline the company’s rules, and regulations.
- File documents: File the crucial documents, including MOA and AOA, with government authority including the Registrar of Companies (ROC) or a similar agency.
- Pay fees: Pay the required fee as prescribed with the fee schedule.
- Verification and approval: Once all the documents are submitted, the verification starts by the Registrar of Companies, and if they feel satisfied, they will issue a certificate of incorporation, which proceeds with the official creation of the OPC.
- PAN and TAN: It’s crucial to apply for PAN and TAN after obtaining the certificate of incorporation.
- Bank account: Now, you can access the bank account for the name of OPC using the incorporation certificate, PAN, and other crucial documents.
- Compliance: OPC needs to comply with various legal regulations, and requirements, including annual financial statements, and annual returns with the Registrar of Companies.
You need to know before begin everything.
OPC has limited liability benefits and is as flexible as LLP. It is an ideal hybrid for one member who wishes to start a firm as one director or one member.
A statutory audit is mandatory for OPC. A company needs to hire a CA as the auditor of the company to verify the books of accounts and audit reports.
Yes, OPC can raise funds through financial institutions and venture capital. To raise more funds, OPC can also be converted into a Private Limited Company.
In case of promoter’s death, a nominee can be a member of the company.
No, OPC is not required to conduct an annual general meeting.