One Person Company Registration in India

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SIMPLE & TRANSPARENT PRICING

Basic

Rs. 10000/-

all inclusive fees

One person company registration with DSC, DIN, name approval, incorporation fee, PAN, TAN, share certificates, Inclusive of government fee.

Standard

Rs. 12000/-

all inclusive fees

One person company registration with DSC, DIN, name approval, incorporation fee, PAN, TAN, share certificates and one year TDS filing, Inclusive of government fee.

Premium

Rs. 16000/-

all inclusive fees with trademark

One person company registration with DSC, DIN, name approval, incorporation fee, PAN, TAN, share certificates, one year TDS filing and trademark filing*. Inclusive of government fee.

OPC Registration –

The credit of incorporating One Person Company in India is given to the Companies Act, 2013 who created it with the objective of supporting businessman who are are capable of starting a venture on their own by permitting them to construct a single economic entity. The biggest advantage of starting an One Person Company (OPC) that one can yield is that there can be only a single individual in a OPC , whereas a minimum of two members are compulsory for registering and preserving a Private Limited Company or a Limited Liability Partnership (LLP). Just like a Company, a One Person Company is a separate authorized body from its advertiser, providing limited liability protection to its one and only shareholder, at the same time as having everlasting continuation of business and being an effortless structure to register.


Thus an OPC structure can be defined as amalgam form of structure, wherein 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.


Sujata Associates one of the India’s leading business consultant provides company registration services in India , as well as offers a wide range of company registration services like private limited company registration, one person company registration and etc . People can avail more services offered by Sujata Associates by click of a mouse , as by accessing its official website sujataassociates.com.


Chief Characteristics of an OPC –

1. A One Person Company is always incorporated as a private limited company.
2. It must have only a single member at any point of time and may have only a single director during its tenure .
3. The words “One Person Company” must be mentioned or included in brackets below the name of the company.
4. One person cannot incorporate more than a single OPC or become a nominee in more than a single OPC.
5. No minor shall become member or nominee of the One Person Company or hold a share with the interest of gaining monetary benefit .


Advantages Of opening an OPC –

The biggest advantages of starting an One Person Company is that no other director or subscriber is required as the name hints that only a single person is required to form the company . Below there are certain advantages of incorporating One Person Company :


Lifetime Continuaton -

When an One Person Company is registered as a body it will carry the characteristic of Lifetime Continuaton and will result in making it easy for businessman to raise capital for business. The OPC is an non-natural body from its proprietor. Thus the should be caution about their claims against the business that can’t be squeezed against the administrator.

Minimum Requirements - An OPC requires a Minimum 1 Shareholder , Minimum 1 Director ( The director and shareholder ) can be same person , Minimum 1 Nominee , Minimum Share Capital shall be Rs. 1 Lac (INR One Lac) . Letters ‘OPC’ to be suffixed with the name of OPCs to distinguish it from other companies.

Easy Access to Bank Loans - Banking and financial institutions favor to lend money to the company rather than proprietary firms. In most of the cases Banks insist the entrepreneurs to transform their firm into a Private Limited company before sanctioning funds. So it is better to register your startup as a One Person private limited rather than proprietary firm.

An Separate Identity – One Person company holds the chief characteristic of a separate legal entity and is proficient enough for doing the whole thing that an entrepreneur will do.

Abundant amount of protection - In case of death/disability of the single person should be provided through appointment of another individual as contender director. On the termination of the original director, the contender director will manage the affairs of the company till the date of transmission of shares to legal heirs of the terminated member.

Benefit to Small Scale Industries - An One Person Company is capable of gaining various benefits offered to the Small Scale Industries like low Interest rates on loans, easy funding from bank without depositing any security amount to a certain limit, various benefits under Foreign Trade policy and etc . Such benefits can be enjoyed by any business during its starting years.

ROC Filling | Company Income Tax Filling |GST Registration and Migration

Sujata Associate ia an accounting Firm and we are expertise in Companies Act 2013 and we help in Company Registration, Private Limited Registration , Limited Laiblity Registration , Public Limited Company Registration , Partnership Company Registration and Propriotrship Company Registration. Sujata Associates also help in Company Audit ,Maintaince of Company Accounts ,Sale Tax Return Filling and Income Tax Filling.

Documents Required For OPC Registration –



OPC registration requires barely few so documents, which are as follows :

• Reservation application of name in INC-1.
• Identity proof, address proof and PAN card copy of nominee and member.
• Written Consent of Nominee in form INC-3.
• Memorandum and Affidavit of sharer for form INC-9.
• Application for Company Registration.
• Registrar Office Address in Form INC-22.
• Registered office's address proof.


Procedure of Registering One Person Company –

Any person who is willing to start a One Person Company can easily register with the help of leading business consultant Sujata Associates by submitting these documents and appointing a candidate who becomes the accountable person from the company in case of death or incapacity of registered director.


Subsequent steps are to be taken in order to
register for One Person Company:

• First, the proposed director, or the person who wants to register the company on his/her name has to submit his Digital Signature Certificate to the registrar office. After this step , he/she is provided with a Director Identification Number (DIN) stating his rights in the company.
• The Next step involves selecting the suitable name for the company. A person can select any name which he/she wants, as long as the name is available. After submitting the desired name, the Ministry of Corporate Office checks the availability of the proposed name. If the name is not available, they would propose an alternative name for the company.
• The proposed director needs to arrange the Memorandum of Association and Article of Association along with the other documents.
• There is a minimal fee and stamp duty which the director has to pay. After that, the Registrar of Companies confirms the documents.
• If the whole thing goes very well, the director receives the registration certificate which guarantees that the one person company is incorporated in his name.


Reasons to Register a One Person Company

Single Promoter

One Person Company is the only type of corporate entity that can be started and operated by a single promoter with limited liability protection in India. A corporate form of legal entity in One Person Company ensures that the business has perpertual existence and easy ownership transferability

Uninterrupted Existence

A company has 'perpetual succession', meaning uninterrupted existence until it is legally dissolved. A company being a separate legal person, is unaffected by the death or other departure of any member and continues to be in existence irrespective of the changes in ownership.

Easy Transferability

Ownership of a business can be easily transferred in a company by transferring shares. The signing, filing and transfer of share transfer form and share certificates is sufficient to transfer ownership of a company. In a one person company, the ownership can be transferred by altering the shareholding, directorship and nominee director information.

Borrowing Capacity

Banks and Financial Institutions prefer to provide funding to a company rather than partnership firms or proprietary concerns. However, a one person company cannot issue different types of equity security, as it can only be owned by one person at all times.

Owning Property

A company being an artificial person, can acquire, own, enjoy and alienate, property in its name. The property owned by a company could be machinery, building, intangible assets, land, residential property, factory, etc., Further, the nominee director cannot claim any ownership of the company while serving as a nominee director.

Single Promoter

One Person Company is the only type of corporate entity that can be started and operated by a single promoter with limited liability protection in India. A corporate form of legal entity in One Person Company ensures that the business has perpertual existence and easy ownership transferability

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How we help with one person company registration

sujataassociates.com can help you register a one person company in 10 to 15 days, subject to government and client processing time.

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Digital Signature & DIN

Digital Signature Certificate (DSC) and Director Identification Number(DIN) is required for the proposed director of the one person company. DIN and DSC can be obtained for the proposed director in 2 to 4 working days

Name Approval

A minimum of one and a maximum of six name choices can be submitted to the government. Subject to availability, company naming guidelines and government processing time, name approval can be obtained in 2 to 4 working days.

Company Registration

On obtaining company name approval, incorporation documents must be submitted to the government along with an application for registration. The government will usually approve the application for incorporation in 5 to 7 days, subject to their processing time.