What Is OPC Registration ?
The idea of One Person Company (OPC) in India was introduced to give a boost to entrepreneurs who have great potential to start their own venture by allowing them to create a single person company. Since, no intervention from any third party is seen, it makes it more beneficial. So, if you want to start up your own business, you don’t have to worry about all the complex and tedious processes.
One Person Companies are helping tremendously in increasing the overall economy of India. More and more Entrepreneurs are coming up and setting up their business. Since, no intervention from any third party is seen, it makes it more beneficial.
One Person Company, which is a new concept in India, already sees a big boom. A huge impact on the economy and development of nation is expected. It gives opportunities to many and will therefore bring creative and young minds in front of everyone. So, if you want to start up your own business, you don’t have to worry about all the complex and tedious processes.
What Is Included In Our Package?
Prior Art Search
Application Drafting
Application Filling
Government Fees
Procedure For Company Registration
How we serve you the best
Complete our OPC Form
You are required to fill your details in our simple online questionnaire.
START
Obtain DSC and DIN for Director of OPC
Then, we shall obtain DSC and DIN for directors and apply for name approval of OPC
3 WORKING DAY
Verification and Name Approval of OPC
Details provided by you for OPC registrationwill be verified by our experts.
2 WORKING DAY
Apply for the COI of OPC
We will apply for and obtain certificate of incorporation for OPC and then apply for TAN and PAN.
10 WORKING DAY
Your OPC is now Ready
Once your OPC is registered, we shall send you TAN and PAN via courier.
CONGRATULATIONS
Documents Required For Company Registration
Why OPC Registration ?
How we serve you the best
Limited Liability
Separate Legal Entity
Uninterrupted Existence
Borrowing capacity
Minimum Requirements For OPC Registration
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One Shareholder
One Director
One Nominee
One Person
What Is An OPC?
A One Person Company is a company with a single member.It was introduced by the Companies Act, 2013. OPC extends the concept of limited liability to a company run by a single person. It is similar in respects to a private limited company with certain differences like fewer compliances and relaxation of certain restrictions. Thus, an OPC is subject to all the provisions of the Act like a private limited company unless expressly excluded.
Eligibility For OPC Registration
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Only a natural person who is a citizen of India and resident in India :
Is eligible to incorporate an OPC
Is eligible to be a nominee for the sole member of an OPC.
A Resident of India is a person who has stayed in India for at least 182 days in the preceding 1 year.
If an OPC exceeds a turnover of over Rs.2 crore or has a paid-up capital above Rs.50 lakhs, it must be turned into a private or public limited company within six months
Steps For Incorporation Of OPC
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Step 1. Obtain DSC and DIN :
The proposed directors must obtain a Digital Signature Certificate(DSC) from 8 authorised DSC makers.
Step 2. Reservation of name :
An application for the reservation of a suitable name must be made in Form No. INC-1.
Step 3. Entrenchment Provisions :
In case the articles of association contain provisions for entrenchment, the company must inform the Registrar of such provisions in Form No.INC-2 at the time of incorporation of the company or in case of existing companies (by amendment of the articles of association), the same must be filed in Form No.MGT-14 within 30 days from the date of entrenchment of the articles.
Step 4. Articles of Association :
Model articles of association have been provided in Tables F, G, H, I and J of Schedule I, as are applicable, and can be adopted by a company either in totality or otherwise.
Step 5. Application for incorporation of OPC :
An application must be filed, with the Registrar of Companies(ROC) within whose jurisdiction the registered office of the company is proposed to be situated, in Form No.INC-2.
Step 6. Signing of Memorandum and Articles of Association :
The MOA and AOA of the company must be signed by the sole member who is also the subscriber to the memorandum, who must give details of his name, address, description and occupation, if any, in the presence of at least one witness who must also attest the signature and must also sign and give his details.
Step 7. Affidavit of Subscriber and the director :
The affidavit must be submitted by sole member who has subscribed to the memorandum and named in the articles in Form No.INC-9.
Step 8. Particulars of Subscriber :
The sole member must file the particulars of subscription with the Registrar at the time of incorporation.
Step 9. Nomination by the sole member :
1. The subscriber to the memorandum of a One Person Company must nominate a person, after obtaining prior written consent of such person, who shall, in the event of the subscriber’s death or his incapacity to contract, become the member of that One Person Company.
2. The name of the person nominated shall be mentioned in the memorandum of One Person Company and such nomination in Form No INC-2 along with consent of such nominee obtained in Form No INC-3.
Step 10. Declaration by professionals
The declaration by an Advocate, a Chartered Accountant, a Cost accountant or Company Secretary in practice shall be in Form No. INC-8.
OR
Online Filing of OPC :
The Ministry of Corporate Affairs (MCA) has issued an integrated incorporation form INC-32. So now, an OPC can be incorporated online by filling the Simplified Proforma for Incorporating Company Electronically (SPICe) form in Form INC-32 (using Digital Signature Certificate of the Director)along with (eMOA) in Form INC-33 and (eAOA) in Form INC-34.
Frequently Asked Questions
OPC Registation
At least one nominee is required to start an OPC who can act as shareholder as well as director.
Any individual/organization can become the member of One person company including foreigners/NRI’s.
The entire procedure is 100% online and you don’t have to be present at our office or any other office for incorporation. A scanned copy of documents has to be sent via mail.
There is absolutely no other payment. We will send you an invoice that is all-inclusive, with no hidden charges.
You need to have a bank account with a minimum balance. This could be as little as Rs. 5000. You don’t need to invest any more capital to start the business.
A lot of people considering an OPC registration go with the private limited company structure because it is mandatory to convert an OPC to a private or public limited company if turnover is over Rs. 2 crore or paid up capital is over 50 Lakhs.
An OPC limited by shares must comply with following requirements :
Must have a minimum [paid up share capital of INR 1 Lac.
Shares will not be allowed to be transferred to anyone else.
An OPC is prohibited from giving any invitations to public to subscribe for the securities of the company.
An OPC is exempted from doing the following compliances :
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
Balaji IP Practice provides OPC incorporation services across India in all cities. We have done OPC registration in Mumbai, Delhi, Gurgaon, Noida, Bangalore, Chennai, Hyderabad, Ahmedabad, Kolkata, Surat, Pune, Jaipur, Lucknow, Kanpur, Nagpur and other Indian cities.
Balaji IP Prectice.com is one of the best online service portals to help register OPC’s in India. We have 25 years of experience in application of OPC registration. Balaji IP Prectice has 30+ regional offices in India and expand its network in India with 2000+ customers for OPC Company.
Yes, you as a salaried person can become the director in private limited, LLP or OPC private limited company. You need to check your employment agreement if that allows for such provisions. In most, cases employers are comfortable with the fact that their employee is a director in another company.
No, you can’t convert your LLP into a Private Limited Company as it is not MCA. Both the LLP Act, 2008 and the Companies Act, 2013 don’t have any provisions on conversion of LLP in a private limited company. However, if you want to expand your business you can register a new Private Limited Company with the same name as that of the LLP. The LLP Company just needs to issue a no objection certificate.
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