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Register one Person Company for proprietors with limited liability and Perpetual Existence-Register Online and fast

INR 6,499 4,499/- including Govt. Expenses Hurry Up!!! Get it now or never in this price.

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Package inclusions

  1.  Free Incorporation Advisory by expert Chartered Accountant

  2.  DSC & DIN of Directors

  3.  Name Reservation

  4.  Consent of Nominee

  5.  MoA & AoA

  6.  Form INC-32 Approval

  7.  Company PAN & TAN

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Overview

This format has been introduced in India recently as an improvement over sole proprietorship, and refers to the type of company where number of directors may be one or more, but there can be only one shareholder. Simply, a company incorporated by a single person and take all the benefits of a limited liability is referred to as a one person company. There is no requirement of a second party as in the co-founder of the company.

This concept support entrepreneurs who on their own are capable of starting a venture by allowing them to create a single person economic entity. One of the biggest advantages of a One Person Company (OPC) is that there can be only one member in a OPC, while a minimum of two members are required for incorporating Private Company or a LLP. Similar to a Company, a OPC is a separate legal entity from its promoter, offering limited liability protection to its sole shareholder, while having continuity of business and being easy to incorporate.

The OPC format has been gaining huge popularity in India and is growing in leaps and bounds, attributing mainly to its ease of incorporation and no third-party intervention. It has also been contributing massively to our economic development, as it supports aspiring entrepreneurs who have the creativity and capability to start their own venture, thereby encouraging great potentials to jump on the start-up boat and sail it to ‘the land of happy times’.

Though an OPC format allows a lone entrepreneur to operate a corporate entity with limited liability protection, every OPC must nominate a nominee Director in the MOA and AOA of the company, who will become the owner of the OPC in case the sole Director is no longer able to run the company owing to death or disability.

An OPC must be converted to a Private or Public Limited Company within six months if it crosses anannual turnover (averaged over three years) of INR 2 crores, or has a paid-up capital of INR 50 Lakhs. Like all other companies, OPCs are also required to file their audited financial statements with the Ministry of Corporate Affairs at the end of each financial year.

Complykart is the Industry leader and trusted Company in Registration and managing hundreds of Companies across India. With a team of expert professionals, we offer exceptional services in minimum time. Get a free consultation for One Person Company registration and business setup in India by scheduling an appointment with our expert professionals.

 

Advantages of OPC

Single member incorporation and operation

The main advantage of the OPC is that it can be incorporated and managed by a single person with a vision to start and run a business, without any third party interference. Furthermore, it provides an advantage over Sole Proprietorship by limiting the liability of assets of its owner.

Perpetual succession

The company retains its legal status even after the death or incapacity of its sole member, but passing down the ownership to its nominee director which is mandatory by the Law.

Easy incorporation and Sustenance

One Person Company (OPC) needs to meet comparatively less compliances than a Private or Public Limited Company and is also relieved from procedural formalities such as Annual General Meetings General Meetings and Extraordinary General Meetings.

Limited liability

The member has no personal liability to the creditors of the company for its debts therefore their personal assets are safe.

Can act as Stockbroker or Sub-broker

Although an OPC cannot open its stocks for public, being a juristic person, it can invest in other companies’ stocks, and can also act as stockbroker or sub-broker.

Registration Procedure

  • 1

    Furnish the Pre-requisites

    The documents, as explained by our experts should be readied before starting the registration process. This includes a registered office address with documentary proof.

  • 2

    Obtain a Digital Signature Certificate (DSC)

    All document submissions are done electronically and hence every company must obtain a Digital Signature Certificate (or DSC), which is used to verify the authenticity of the documents.

  • 3

    Name Approval

    An application for the reservation of a suitable name must be made in Form RUN which is approved by the Registrar in 2-3 days.

  • 4

    Memorandum and Articles of Association

    Memorandum & Article of Public Company are drafted which contains the place of business, its Business and other functioning of Company.

  • 5

    Nomination in INC-3

    The Shareholder of OPC is required to appoint an individual as nominee who will act in the event of uncertainties.

  • 6

    Filling of Form with ROC

    The Form is filed with Registrar of Companies and registration fee for the company is paid and every change is made in the legal documents which are then verified.

Documents Required for Registration

  • PAN is mandatory for Member and Nominee.
  • Notarized copy of Passport for Foreign Nationals
  • Reservation of Application of name in RUN Form.
  • Identity Proof of Member and Nominee.
  • Address Proof of Member and Nominee.
  • Copy of Proof of Registered Office Address.
  • Written Consent o0f Nomine in Form INC-3.
  • If the place is rented, the No objection certificate from the landlord is required.
  • How Complykart helps in this Entire Process

    Consulting

    Our OPC Incorporation experts will provide you best consultancy on Registration procedure and the required documents to be provided.

    Help in preparing Relevant Documents

    We help our clients in preparation of application and necessary documents to be presented to Registrar for Registration.

    Filing of Document with Registrar

    We will fill the e-Form INC- 32, MOA & AOA along with necessary documents required for getting the approval which is obtained within 10 -12 days.

    Follow-Up

    Our experts continuously follow up with the development with the Authorities and ensure speedy registration process.

    Compare Your Options

    Private Limited Limited Liability Partnership Partnership Firm One Person Company Proprietorshup Firm
    Ideal For entrepreneurs with Vision Profesionals & small Traders Small Businesses Firms Indivisual Promoter Small Business
    Venture Capital Fundind Available Available Not Available Not Available Not Available
    Limited Liability Protection Limited on Promoters Limited on Promoters Unlimited Liability Limited on Promoter Unlimited Liability
    Existence of Business Perpetual Existence Perpetual Existence No Perpetual Existence Perpetual Existence No Perpetual Existence
    Tax Advantage Fewer Benefits Maximum Benefits No Benefits Fewer Benefits No Benefits
    Compliances High Low Minimum High Minimum
    Time taken in Incorporation 7-8 Days 20-25 Days 5 Days 7-8 Days 5 Days
    Cedibility High High Low Low Minimum
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