OPC Registration

OPC REGISTRATION

INTRODUCTION:

The Companies Act, 2013 introduced the concept of One Person Company. It is a kind of business with more than one benefit. One is the benefit of single ownership and the other is the corporate structure.

According to section 2(62) companies act, one can be formed with just one director and 1 (one) member.

One may start by registering a sole proprietorship firm or personal company. One cannot change the structure of business in the case of single ownership.

A one-person company, otherwise called OPC is a company founded with just one person as a member, which is a private company in nature.

A one-person company, otherwise called OPC is a company founded with just one person as a member, which is a private company in nature.

The concept aimed to promote entrepreneurship and the corporatization of business.

OUR BLACKTIE LEGAL SERVICES INDIA LLP HELPS IN THE PROCESS OF ONE-PERSON COMPANY REGISTRATION.

BENEFITS OF OPC:

Single Owner

A single owner is more helpful than having more than one owner because it is quickly making decisions and managing a business without any interference or suggestions from another person.

Credit Rating

In One person company, a bad credit score is not material according to the norms.

The received Interest rate on any Late Payment

If the buyer or seller receives any late payment then they are entitled to receive an interest rate.

Increase in Trust and status

Any business which runs in the form of a company always enjoys increased trust and status.

Easy Funding

If a company is a private limited company can raise funds using angel investors, financial institutions, etc.

Limited Liability

OPC is limited to the extent of the value of the share of the company and individuals can take more risks in business without suffering the loss of any personal assets. It is a type of encouragement to new, young, and innovative business start-ups.

Can accept foreign funding

One can accept direct foreign investment. They can receive foreign investment and can also do overseas direct investment. This is an important relaxation given to the one-person company wherein an investment to and from India directly to a small business is allowed.

OPC AND SOLE PROPRIETORSHIP DIFFERENCES:

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2.

In the case of OPC, you need to register your business whereas no such requirement is needed in the case of a sole proprietorship.

OPC is a separate legal entity and distinguished from its promoter whereas, in a sole proprietorship, the proprietor and the proprietorship is known to be one.

DOCUMENTS REQUIRED:

For incorporating your business as a One Person Company, you need to provide proper identity and address proof. The documents are required to be submitted to the Registrar of Companies.

FOLLOWING DOCUMENTS REQUIRED FOR INCORPORATING YOUR
BUSINESS  

Passport size photograph

Copy of Aadhar Card or Voter ID

Copy of PAN Card

Copy of Bank Statement (not older than two months)

Valid address proof of office which can be the latest electricity or any other utility bill.

If it is a rented office, then a No Objection Certificate (NOC)  is required from the owner of the property.

DOCUMENTS REQUIRED AFTER OPC REGISTRATION

Certificate of Incorporation

PAN of the company

TAN of the company

Articles of Association (AOA)

Memorandum of Association (MOA)

Director Identification Number (DIN)

Digital Signature Certificate (DSC)

EPF and ESIC registration documents

Company Master data

ELIGIBILITY CRITERIA TO START AN OPC :

A natural person must be an Indian citizen and resident in India for at least 182 days (financial year)

Trust estate

He/she cannot be a member or nominee of more than one OPC.

Minors are not allowed to be members or nominees.

CONCLUSION:

Nowadays one person company become popular in our society. One can easily start a business with the help of the One Person Company registration. A great thing about being OPC registered is that you do not have to hold board meetings or general meetings and all the decisions must be taken through resolutions which have to be kept in the records. 

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