One Person Company
"Your Vision, Your Venture – Register as a One Person Company Today!"
Introduction:
Nowadays it has become a very popular form of business as many entrepreneurs are opting for One Person Company. In OPC, a single promoter gains full authority over the company thereby restricting his/her liability towards their contributions to the enterprise.
In recent times, the One Person Company (OPC) was launched as a good refinement over the sole proprietorship. With the help of experts at ValuExpert, you can easily register your One Person Company without any hassle.
New Company registration process is online and it takes 4-5 working days from the date you give your complete documents to us and subject to the availability of the proposed name.
One Person Company Benefits:
One Person Company (OPC) has many advantages as compared to Companies and Proprietorship firms.
a) Organized Sector of Proprietorship:
OPC will bring the unorganized sector of proprietorship into the organized version of a Private Limited Company. Various small and medium enterprises, doing business as sole proprietors, might enter into the corporate domain. The organized version of OPC will open avenues for more favorable banking facilities. Proprietors always have unlimited liability. If such a proprietor does business through an OPC, then the liability of the member is limited.
b) Compliance Burden:
The One person Company includes in the definition of “Private Limited Company” given under section2 (68) of the Companies Act, 2013. Thus, an OPC will be required to comply with provisions applicable to Private Companies. However, OPCs have been provided with several exemptions and therefore have a lesser compliance-related burden.
c) Minimum requirements:
i) Minimum 1 Shareholder
ii) Minimum 1 Director
iii) Director & Shareholder may be a same person.
iv) Minimum 1 Nominee
v) No Need for any Minimum Share Capital
d) Existence:
Sole Proprietorships come to an end with the death of the proprietor. However OPC has a separate legal identity hence it would pass on to the nominee and therefore, continue to exist.
Pre-registration Requirements:
1) Unique Name:
Unique Name for the Company which should not resemble with existing name of the Company and trademark.
2) Director & Shareholder:
The one-person company can be incorporated with one Director and one shareholder. The Director and Shareholder can be the same person.
3) Registered Office:
Registered office for the Company can be residential or commercial and it can be rented.
4) Capital Contribution:
Now there is no minimum paid-up capital requirement for a One Person Company. Authorized capital is the maximum number of shares which the company can issue to its shareholder. It would be best if you prescribed the authorized capital in MOA and AOA during its incorporation.
5) Nominee:
A nominee is a person who shall, in the event of the Death of a member or his incapacity to enter into a contract, become a member of OPC. The Nominee may at anytime withdraw his consent, by giving notice to member and OPC as well. It is mandatory to appoint a nominee at the time of incorporation of the company.
Registration Process:
1) Share Documents:
Our experts will call you and get a free consultation on the name of the company, capital contribution by the shareholder, and documentation required for new company registration.
2) Name Reservation:
Our expert would make a name reservation with the authority so that the company name is reserved.
3) Apply for DSC:
The next step is to apply for a digital signature Certificate. It is used to digitally sign the e-forms.
4) Filing of Incorporation e-form:
Our expert will file the incorporation e-form which is the final step in getting your Company Registration.
5) Certificate of Incorporation:
After processing the application by the department the certificate of incorporation is issued by the authority.
6) Ready to Work!
Once the certificate of incorporation is received, you are ready to work and take your business to great heights of excellence!
Registration Documents:
1) From Directors and Shareholders:
a) Scanned copy of PAN card & Aadhaar Card.
b) Pass-port-sized photographs.
c) Identity Proof (Scanned copy of Voter ID/ Driving License/Passport)
d) Address proof (Scanned copy of Utility Bill – electricity/water/mobile), make sure that the address proof is not older than 2 months
e) Mobile No. & Mail ID
2) For Registered Office:
a) Rent Agreement or the Lease Deed or the Sale Deed of the place being used as Registered Office; or,
b) Address Proof of the Registered Office (electricity Bill), make sure that the address proof is not older than 2 months.
c) No-Objection Certificate (NOC) signed by the actual owner of the Property.
(Important note: 1) All above proof must be self-attested. For the foreign nationals, all documents must be apostilled or notarized and scanned passport copy is mandatory.)
