One Person Company (OPC) Registration is a private company where there is only one employee of limited liability who may function both as manager and director. Companies Act 1956 which allows one or two representatives to create a private limited company and a public company. One Person Company was incorporated under the Companies Act 2013 in India. Who would launch a company themselves by encouraging them to establish a single person's economic entity. OPC's idea is basically to eliminate the restriction of a sole proprietorship, the most common type for small businesses in India. The liability of the proprietor is restricted to the capital spent in this form.
Minimum Requirements for OPC Registration
1 shareholder and should be Indian resident.
Minimum 1 Director is required ( Director and shareholder can be the same person).
1 nominee is required and should be Indian resident.
Minimum authorized share capital that is 1 lakh.
Digital Signature Certificate and Director Identification Number for the Director.
Registration Process of One Person Company
First, the sole owner must provide a Director Identification Number (DIN), and a digital signature certificate.
Then, you will ask for the business name.
In prescribed forms they should get the nominee 's consent.
The agreement and the final forms of incorporation shall be sent along with the Memorandum and Articles, as well as all necessary documents.
The final certificate of incorporation shall be given by the registry of corporations. Now, he is able to launch a company under the name.
Open your new current bank account and PAN number on one person's company name.
Documents required for one person company registration
A Passport size Photo
Permanent Account Number Card of the Director
Identity Proof is needed ( Driving License / Passport / Voter ID Card / Aadhar Card )
Address Proof is needed – Bank Statement / Bill of Mobile / Electricity Bill / Telephone Bill / Water Bill
Address Proof of Registered Office - Bill of Mobile / Electricity Bill / Telephone Bill / Water Bill / Gas Line Bill / Property Ownership Document
No Objection Certificate (NOC) from the owner
Nomination in case of One Person Company
The OPC report shall state the name of the other person who has given his or her consent to be named in the manner stated, and who becomes a director of the organization in the event that the individual becomes disabled due to death or job incapacity. These other person's written permission is often to be submitted along with the incorporation papers during the creation of OPC.
The declaration of the client shall state the name of the individual who in the event of the death of the subscriber becomes a director of the organization. The individual has the right to alter the name of the candidate at any point by notifying them in the manner specified.
The new nominee would also grant his name his consent for it to remain, and any changes in the applicant will require alteration of the organization document. He must be an Indian who resides in India and not a minor.
A candidate can withdraw his nomination by giving his consent to the member and to the OPC. In that case, the applicant shall nominate another individual within 15 days of the notification of withdrawal after obtaining his written approval, and send the intimation of that selection to the association. The OPC is expected to submit a withdrawal notification and fresh assignments within 30 days of withdrawal.
OPC has nominal capital exceeding Rs. 10,00,000 of Rs. 2000 and Rs. 200 per 10,000 nominal equity for the first 10,00,000 of Rs. 50,00,000. OPC registration usually takes between 20-30 days and, after registration, you can get an OPC incorporation certificate.
Why Choose e-registration.co.in?
One Person Company is one of the most popular types of corporate entities in India. The method is a little complicated so it's always better to hire a specialist or an agency to help you do that. You can contact our team @e-registration.co.in, if you've any questions regarding opc registration and we will get back to you.
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