Why to Register OPC in India

 

When we talk about the business structures which includes only person. There are two options which comes into our minds i.e. Sole proprietorship and One Person Company (OPC) Registration.

Although the compliance requirements for One Person Company Registration is minimal, then also there is a lot of confusions in the minds of people regarding it, as it is newly introduced under the Companies Act, 2013.

In this article we will cover the various aspects of OPC Pvt Ltd Registration, opc registration charges and other aspects related thereto.

 

Key takeaways of the article:

  • Benefits of OPC Registration
  • What are the documents required for one person company
  • Incorporation of OPC Online
  • Process of One Person Company Registration
  • Registration fees for One Person Company
  • FAQs on OPC Registration

 

BENEFITS OF OPC REGISTRATION

 

 

No minimum capital requirements

For One Person Company Registration there is no minimum capital requirement.

Limited Liability

The Liability of sole member is limited to the extent of share capital held by him, which act as protection to the personal assets of the company.

Fewer compliance requirements

There are multiple exemptions granted to OPC. Hence, OPC Pvt Ltd registration can be done easily with minimum paperwork.

Perpetual succession

The death or incapacity to contract of directors or sole member will not affect the existence of OPC unless and until it is dissolved legally.

Privileges for small scale industries

An OPC can avail all the benefits that are offered to the small-scale industries. These benefits include easy funding, low interest rates, etc.

Organised business structure

It is the organised form of business structure as compared to sole proprietorship or partnership form of business, which gives it a professional image in the eyes of customers.

 

 

WHAT ARE THE DOCUMENTS REQUIRED FOR ONE PERSON COMPANY?

 

The One Person Company Registration Documents which are required are as follows:

 

Particulars

Documents required for OPC company registration online

ID proofs Subscriber /Directors/ Nominee

Self-attested copy of PAN card and Aadhar card

Present address proof of Subscriber/Directors/Nominee

Self-attested copy of Bank statement or utility bill which should not be older than 2 months

Permanent address proof of Subscriber/Directors/Nominee

Self-attested copy of Voter ID/ Passport/ Driving License

Registered Office address proof

Ø  In case premise is owned by Subscriber or Director – Utility bill and No Objection Certificate from owner to the effect that he has no objection if company uses such premise as its Registered Office.

Ø  In case premise is Rented or on Lease– Utility bill and duly stamped and notarized Rent Agreement or Lease Deed in the name of company.

 

Details about the Share Capital

Authorized as well as paid up Share Capital

Business Activity details

Objects for which company is to be incorporated including NIC Code of the company

 

INCORPORATION OF OPC ONLINE

 

OPC registration can be done online by filing integrated form SPICe plus on MCA portal, once it is scrutinized and approved by Registrar of Companies (ROC) a certificate will b3e issued under his hand, which will be conclusive evidence of incorporation of company.

 

PROCESS OF ONE PERSON COMPANY REGISTRATION

 

S.No.

Particulars

1.

Obtain Digital Signature Certificate (DSC) of sole Member and one of first Directors.

2.

Checking Name Availability on MCA portal and Public Search of Trademarks

3.

Apply for Name Reservation in SPICe Part-A along with fees of Rs. 1000.00

 

Note: Instead of filing SPICe PART-A alone entire incorporation application can be filed along with in Integrated SPICe plus form (INC-32)

4.

Once Name Approval Letter is received, name is reserved for 20 days which can be extended for 20 days and further for 20 days (Max. 60 days) on filing extension application along with additional fees.

5.

SPICe form PART-B for incorporation is to be filed along with AGILE-PRO-S, SPICe MOA, SPICe AOA, INC-9 along with following attachments:

 

·         Declaration by Certifying Professional in form INC-8

·         Consent to act as Director in form DIR-2

·         Declaration from first Directors that they are not disqualified to get appointed in form DIR-8

·         Declaration by the Nominee to become Member in form INC-3

·         Self attested copy of ID and address proof of Subscriber to MOA, Nominee and first directors

·         Self attested copy of Registered office proof

 

6.

Payment of Stamp duty and filing fees,

 

Note: Stamp duty depends upon the Authorized Share Capital and state where Registered Office of the company situated.

7.

Obtain PAN and TAN of the company.
Note: They get automatically generated on incorporation of company.

8.

Open bank account to deposit subscription money so that company can file Commencement of Business in form INC-20A and carry out business transaction afterwards.

 

REGISTRATION FEES FOR ONE PERSON COMPANY

 

  • Fees For Name Reservation- Rs. 1000.00
  • Stamp duty on MOA and AOA- depend upon the authorized share capital of the company and state in which it is proposed to be registered.
  • Payment for PAN/TAN- Rs.65.00 for PAN and Rs.66.00 for TAN
  • Professional fees- decided at the discretion of professional

 

Compliance Calendar LLP is one stop destination for Startup Founders who fail to comply on various compliances and end up paying heavy fines & penalties. OPC Registration is peaking up in India. If you have any questions, you are welcome to write to us at info@ccoffice.in or connect with our team at 9988424211 and we would be happy to support you in making you understand the complexities of One Person Company (OPC) Private Limited Registration.

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