One Person Company
Nowadays, startups and entrepreneurship are in trend, and OPC, or One-Person Company, has gained popularity as a concept. The Companies Act of 2013 has developed the OPC (one-person company) concept, a revolution in the field for solo entrepreneurs willing to have their own ventures. The article turns its own lens to the complicated processes of One-Person Company registration, the advantages it brings, and the process itself.
How long does it take?
Legally Own Your Company in Just 15 Days!!
Step 1 : Digital Signature Certificate
1 Working Days : The Digital Version of Physical Certificates, DSC acts as a virtual seal that authenticates your companyâs identity electronically. The Cryptographic Technology used to create unique Digital Signatures helps keep all your critical and sensitive documents safe.
Step 2 : Director Identification Number
1 Working Days : Owning a company automatically makes you the director of the Company for which DIN is a must. This eight-digit identification number with a lifetime validity has all the details of the directors maintained in a database, safeguarding the interest of the company.
Step 3 : Name Approval
Upto 5 Working Days : Everybody wants to give their company an unique identity and a unique name is the foremost priority for the same, which has to be approved by MCA to ensure that the proposed name is not in use by any other companies.
Step 4 : Incorporation of Documents
Upto 8 Working Days : Incorporation Documents like Memorandum of Association(MOA) and Article of Association(AOA) needs to be approved and verified by the government for smooth functioning of the company. Simultaneously, we @Compregi apply for PAN and TAN of your company.
Documents Required for an One Person Company Registration
1ID Proof
Scanned copies of
- PAN CardÂ
- Aadhar Card
- Voter ID
- Passport
- Driving License
of all the directors of the company are needed.
Address Proof
Bank Statement/Utility bill in the name of the Director, not older than 2 months.
Registered Office Proof
-No Objection Certificate(NOC) from the owner.
-Utility bill(not older than 2 months).Â
-Notarized rent agreement,in case of rented property, or, registry proof, in case of owned property.
Photograph
Latest Passport size photograph.
What Do You Get
DSC
Virtual Seal for you to sign the documents.
DIN
Lifetime validity DIN to safeguard the interest of the company.
Memorandum of Association
Ensures the existence of the company by defining rules and objectives of the business.
Articles of Association
Ensures the existence of the company by defining rules and objectives of the business.
PAN Card
Companyâs Personal Account Number to open a bank account.
TAN Number
Essential 10 digit alpha-numeric number for tax compliance mechanism under Indian Laws.
Incorporation Certificate
Bears all the details of the company setting it a legal separate entity.
One Person Company Registration Cost
We at Compregi believe in complete transparency in the complete registration process of your company. Below mentioned cost structure includes all the necessary government fees required at multiple stages of registration.
| FEATURES |
StartUp Rs. 5,999/- |
Professional Rs. 9,999/- |
Enterprise Rs. 17,999/- |
| Registration | |||
| Company Registration | â | â | â |
| Company's PAN | â | â | â |
| Company's TAN | â | â | â |
| EPFO Registration | â | â | â |
| ESIC Registration | â | â | â |
| GST Registration | x | â | â |
| UDHYAM (MSME) Registration | x | â | â |
| Physical Kit | |||
| Digital Signture | â | â | â |
| Company's Document File | â | â | â |
| Letter for Bank Account | â | â | â |
| Company's Stamp | x | â | â |
| Framed Certificate | x | â | â |
| Professional Letter Heads | x | 25 | 50 |
| Professional Visiting Cards | x | x | â |
| Compliance | |||
| Director's ITR Filing | â | â | â |
| GST Return Filing | x | 3 Months | 12 Months |
| Auditor Appointment | x | â | â |
| DIR -3 KYC | x | x | â |
| INC -20 Form Filing | x | x | â |
| ROC Return Filing | x | x | â |
| Company's ITR Filing | x | x | â |
| EPFO Return Filing | x | x | â |
| ESIC Return Filing | x | x | â |
| Consultation | |||
| Company's Name Search | â | â | â |
| Website Domain Search | â | â | â |
| Website/App. Development | â | â | â |
| Brand Logo Design | â | â | â |
| Social Media Marketing | x | â | â |
| Trademark Registration | x | â | â |
| Payment Gateway | x | â | â |
| Drafting Legal Documents | x | x | â |
| Legal Retainership | x | x | â |
| CHOOSE PLAN | CHOOSE PLAN | CHOOSE PLAN |
What does the term "One Person Company Registration" refer to in India?
One Person Company registration in India is a legal procedure that provides for the formation of a company with the limitation of liability for its owner. According to section 2(62) of the Companies Act, 2013, OPC is a company established and run with just one person as its members. This groundbreaking regulation has made the process of starting one’s own business easier to set up in a way that enables entrepreneurs to start their enterprises without the burden of involving more partners or shareholders.
One-person company (OPC) registration has become a favoured method among self-employed professionals, consultants, and others who must register their businesses. OPC is a unique forum where the sole member and the company are free from liability for the company’s debts.
CompRegie comprehends the significance of OPC, and it is, for this reason, we give you not just the expertise but also guide and advise you through the one-person company registration in India process. Assembled professionals from our team facilitate a trouble-free registration process and the smooth running of businesses without making entrepreneurs worry about registration procedures.
Characteristics of One Person Company in India
One person company registration in Jaipur and other parts of India has a few aspects that make it be a good choice for the single or individual entrepreneurs. Let’s explore some of the key features of OPCs
Limited Liability Protection
Limited liability protection, in the form of one-person company registration, is probably the main benefit of registered sole members. Firm members cannot be held liable to an extent greater than the capital they contribute, protecting their wealth from any loss related to the company’s business dealings.
Separate Legal Entity
A OPC inception and hence formation of the company is independent from the shareholder who may own it. The consequence of this is that the company is legally considered as an independent entity, which can enter into agreements, own property, and be held responsible or take other parties to court. Besides own identity, it the business also gains legal status that contributes to business reputation and professional image.
Simplified Compliance Requirements
While other types of incorporations are known to be more complicated, OPCs stand out with their easy-to-follow compliance obligation. The banks do not necessarily need to hold annual general meetings (AGMs), nor must they elect independent directors. This saves the members from administrative hassles and provides them the leverage of managing the business activities efficiently.
Perpetual Succession
OPC is a legal entity that, despite its members, is unaffected by the sole member’s death, incapacity, or retirement since OPCs have perpetual existence. The director put in place by the company member should function as the continuity manager and guarantee the continuation of the company’s businesses in such cases.
Easy Transferability
The transfer of possession of OPC shares is uncomplicated; therefore it is possible for the only member of an OPC to involve new investors or to sell the company as they desire. This flexibility is another important reason to pick one person company registration in India.
At CompRegi, we are the one-stop venture for one person company registration. Apart from providing you with straightforward and easy registration, we help you with features and benefits. Our specialists walk businesspersons through the entire process of registration from start to end so that all the procedures bear fruit and the registration process is successful
Checklist for registering a One Person Company in India
Before you plan to proceed with the registration of one person company remember to have the following in hand:
- Not patented company name
- An official address
- Digital Signature Certificate (for sole and nominee directors)
- Director Identification Number (for sole and nominee directors)
Required Documents for OPC Registration in India
Keep documents required for GST registration of one person company of sole and nominnee directors ready to complete the process:
- Identity Proof (Sole Director and Nominee)
- Address Proof (Sole Director and Nominee)
- Passport Size Photo (Sole Director and Nominee)
- Specimen Signature (Sole Director and Nominee)
- Address Proof of Registered Business or Office
- NOC from Property Owner (if business premises are Rented)
- Copy of Bank Statement
Steps for One Person Company Registration
The one person company registration procedure involves the following steps:
- Ensuring the Sole Member and Nominee Director to be Digital Signature Certificate (DSC) holder.
- Get the necessary documents to make a DIN for the sole member and nominee director.
- Make your company name just by filling out the SPICe+ form.
- The SPICe+ form, MOA, AOA, and other relevant documents are duly filed.
- The Registrar of Companies (ROC) should approve the company’s incorporation and issue a Certificate of Incorporation.
Restrictions on One Person Company
While OPCs offer numerous benefits, there are certain restrictions to be aware of:
- An OPC cannot be incorporated into a Section 8 company (not-for-profit).
- An OPC cannot perform Non-Banking Financial Investmentâ activities.
- An OPC cannot admit to a minor as a member or a nominee director.
- An OPC cannot simply turn into any other type of company via voluntary conversion for 2 years after the incorporation date.
Our specialists at CompRegi help you navigate such restrictions and ensure you are aware of the mandatory legal requirements, allowing entrepreneurs to focus on their business development.
One Person Company Registration With CompRegi
Here’s how CompRegi assists in one person company registration in India:
- An expert overview on the registration criteria and the documentation for an OPC.
- Helping an aspirant to achieve DSC and DIN.
- Concerted efforts for drafting MOA and AOA.
- The Registrar of Companies (ROC) was the only official recipient of the simple electronic payment of the SPICe+ form and all the other official papers.
- Timely coordination with the ROC helps for a smooth filing of the registration process.
- Tips on the precautions after registration and the regulatory standards are the main concern.
- Lower prices with a clear tariffs system for a one-person company incorporation.
- Individual responses to customerâs questions and consideration of their concerns in the registration process to speed up the process.
Why Choose Compregi?
The Experts and professionals at Compregi help you with all the process, right from opening a bank account for your company to legally getting your business started. We believe in complete transparency in all the processes and keep you updated with each ongoing step. We value your time and ensure you with the complete registration process within the promised time period. So join us for a seamless registration and endless possibilities for your business.
FAQs
Does an NRI hold the right of forming an OPC in India?
Yes, an NRI can register an OPC in India if she/he meets all the requirements set by the FEMA law.
Should a private OPC be required to hire a company secretary?
No, appointing a company secretary is not a prerequisite for activating OPC.
Can a OPC be transformed into private limited company?
Yes, an OPC can be transformed into a private limited company, but it is highly dependent on the conditions and procedures that are in place.
What is the cost of registering a one-person company in India?
An application starts from INR 900, which varies with the authorized capital of the OPC. The service provider rates may vary and are usually in the range of âđ 5,000 to âđ 15,000 depending on where the services are offered.
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