Compare One Person Company Packages
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An OPC is a hybrid structure, it combines most of the benefits of a sole proprietorship and a company form of business. It has only one person as a member who will act in the capacity of a director as well as a shareholder. Single Entrepreneur can manage his business on his own. OPC provides a whole new bracket of opportunities for those who look forward to start their own ventures with a structure of organized business. OPC will give the young businessman all benefits of a private limited company which categorically means they will have access to credit, bank loans, limited liability, legal protection for business, access to market etc, all in the name of a separate legal entity.
DSC is the equivalent of physical or paper certificates in digital format. As the application For OPC Registration is filed online with Digital Signatures of the director, hence the process starts with the issuance of the digital signature for all the directors/promoters. Photo, ID and Address proof is to be submitted along with Form for issuance of DSC
It is a permanent number issued by the registrar of companies, as a unique identification number to the director of a company or designated partner of the LLP. As per new companies Act, 2013 no person can hold an office of the director unless he is issued a DIN. For allotment of DIN, an application to ROC is made with Photo, Attested ID and Address proof duly attested by CA, CS or CMA
Name of each company or LLP must be unique, new and should not be same or similar to an already registered company, LLP or a Trademark. After the DSC and DIN allotment, an application is made to the ROC for approval of name; the registrar is vested with discretionary powers concerning approval of name. Our advisors shall be a help to you while deciding the name of the company or LLP.
Name of each company or LLP must be unique, new and should not be same or similar to an already registered company, LLP or a Trademark. After the DSC and DIN allotment, an application is made to the ROC for approval of name; the registrar is vested with discretionary powers concerning approval of name. Our advisors shall be a help to you while deciding the name of the company or LLP.
All the steps as described below finally culminates into the registration of the company with the issuance of the certificate of Incorporation. With spice e-form, DIN, name Approval and Incorporation related documents like affidavits; declarations are filed at once. However, only one name can be suggested in the spice form. The certificate of incorporation is the conclusive proof of the registration of the company.
Two colour photographs of directors / shareholders
Identity Proof of each director, (Aadhar Card, Passport, Driving License or Voter ID Card).
Address Proof (Bank Statement or Passbook, electricity bill, telephone bill, or any utility bill) Address Proof
Proof of the registered address of Company (Sale Deed, electricity bill, tax paid receipt or any other utility bill)
No objection Certificate from the owner of premises where registered office of the company shall be situated
Pan Card of each partner, The name must match with IT database.
Only resolution is required to be communicated to members and entered in the minute book. It should be signed and dated by the members. The date of signature will be deemed as the date of holding annual general meeting or extra ordinary general meeting.
This leads to fast decision making and execution. Yet he/she can appoint as many as 15 directors in the OPC for administrative functions, without giving any share to them.
Very few ROC filing is to be filed with the Registrar of Companies (ROC). One Person Company can more focus on other functional and core areas.
In case of One Person Company, the shareholder liability is limited to his shareholding. This means any loss or debts which is purely of business nature will not impact, personal savings or wealth of an entrepreneur.
An One Person Company can avail the various benefits provided to Small Scale Industries like lower rate of Interest on loans, easy funding from bank without depositing any security to a certain limit and others.
Any remuneration paid to the director will be allowed as deduction as per Income tax law, unlike proprietorship. Other benefits of presumptive taxation are also available subject to income tax act.
We offer our clients the best pricing plans suitable for all their needs. What’s yours?
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
A person can be member in only one OPC.
A Company must have a minimum of One Director, a sole shareholder can himself be the sole director. A Company have a maximum number of 15 directors.
Following are the restrictions in OPC:
• A minor cannot become a member or nominee of OPC or can hold share with beneficial interest.
• An OPC cannot be incorporated or converted into Not Profit Organisation.
• An OPC cannot carry out Non-Banking Financial Investment activities including investment in securities of any form of body corporate.
• An OPC cannot convert voluntarily into any kind of company unless two years have been expired from the date of incorporation of Company.
• Annual Return shall be signed by the company secretary, or where there is no company secretary, by the director of the company
• Mandatory rotation of auditor after expiry of maximum term is not applicable.
• The financial statements of a OPC can be signed by one director only.
• Cash Flow Statement is not a mandatory part of financial statements for OPC.
In case the paid-up share capital of an OPC exceeds fifty lakh rupees or its average annual turnover during the relevant period exceeds two crore rupees, then the OPC has to be mandatorily converted into other form of company.
No defined minimum capital level for incorporating a company.
