ONE PERSON COMPANY (OPC) REGISTRATION
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|---|---|
| ✔ Company Registration | ✔ Company Registration |
| ✔ GST Registration | ✔ GST Registration |
| ✔ Udyam Registration | ✔ Udyam Registration |
| ✔ Annual ROC Compliance | |
| ✔ Audit Work | |
| ✔ Book Keeping | |
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One Person Company (OPC) Registration
Welcome to Bharat Filing Point!
We are your one-stop solution for all your business setup and registration needs in India.
At Bharat Filing Point, we understand the complexities of starting and running a business in India. That’s why we are dedicated to providing hassle-free and efficient services to help you navigate through the various legal requirements and regulations.
One Person Company (OPC) Registration in India
Introduction
In an effort to support solo entrepreneurs, the Government of India introduced the concept of One Person Company (OPC) under the Companies Act, 2013. One Person Company (OPC) allows entrepreneurs to operate a company with limited liability without requiring a second shareholder.
What is an One Person Company (OPC) ?
An OPC is a type of company that can be formed by a single individual, making it ideal for solo entrepreneurs. It enjoys the benefits of both sole proprietorship and corporate status.
Benefits of OPC Registration in India
- Limited Liability: Protects personal assets from business liabilities.
- Separate Legal Entity: Distinct from its owner, allowing for smoother business operations.
- Ease of Management: Simpler compliance requirements compared to other types of companies.
- Continuity: The nominee director ensures continuity in case the primary director is incapacitated.
- Tax Benefits: Enjoy various tax benefits available to companies.
Disadvantages of One Person Company (OPC) in India
- Limited Growth Potential: OPC is restricted to only one member, limiting investment and expansion opportunities.
- Higher Compliance: Although simpler than other forms, OPC does have more compliance requirements compared to a sole proprietorship.
- Conversion Restrictions: Mandatory conversion to a private or public company if certain thresholds are exceeded.
Procedure for OPC Registration
- Name Approval: Submit the proposed name for approval.
- Digital Signature Certificate (DSC): Obtain DSC for the sole director.
- Director Identification Number (DIN): Apply for DIN if not already obtained.
- MoA and AoA Drafting: Draft the Memorandum of Association (MoA) and Articles of Association (AoA).
- Submission of Essential Documents:
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- Identity and address proof of the director and nominee.
- Proof of registered office address.
- Declaration and consent forms.
- Filing with MCA: File incorporation forms with the Ministry of Corporate Affairs (MCA).
- Certificate of Incorporation: Receive the Certificate of Incorporation along with the Corporate Identification Number (CIN).
Compliance and Maintenance
- Annual Filing: File annual returns and financial statements.
- Board Meetings: Conduct at least one board meeting every six months.
- Tax Filings: Ensure timely filing of income tax returns and GST returns, if applicable.
Key Steps to Remember
- Ensure to choose a unique and compliant company name.
- Nominee consent and documentation are crucial.
- Maintain regular compliance to avoid penalties.
Eligibility Criteria
- Only Indian citizens and residents can incorporate an OPC.
- A person can incorporate only one OPC.
- The proposed director must not have any previous history of insolvency or criminal conviction.
Get Started with Bharat Filing Point
Ready to take the plunge into entrepreneurship? Bharat Filing Point is here to help make the process smooth and seamless.
- Expert Guidance: Our team of seasoned professionals will guide you through each step of the OPC registration process.
- Hassle-Free Process: We handle all the paperwork and legal formalities so you can focus on your business.
- Affordable Services: Competitive pricing that offers great value for your investment.
Do you have questions about how we can help your company? Send us an email and we’ll get in touch shortly.
Mail: info@bharatfilingpoint.com
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Join the thousands of satisfied customers who have trusted Bharat Filing Point with their business registration needs. Let’s make your entrepreneurial dreams a reality!
Proprietorship vs Partnership vs LLP vs Company (Pvt Ltd)
| FEATURES | PROPRIETORSHIP | PARTNERSHIP | LLP | COMPANY |
|---|---|---|---|---|
| Definition | Unregistered type of business entity managed by one single person | A formal agreement between two or more parties to manage and operate a business | A Limited Liability Partnership is a hybrid combination having features similar to a partnership firm and liabilities similar to a company. | Registered type of entity with limited liability to the owners and shareholders |
| Ownership | Sole Ownership | Min 2 Partners Max 50 Partners | Designated Partners | Min 2 Directors Min 2 Shareholders Max 15 Directors Max 200 Shareholders For One Person Company 1 Director 1 Nominee Director |
| Registration Time | 7-9 working days | 7-9 working days | 7-9 working days | 7-9 working days |
| Promoter Liability | Unlimited Liability | Unlimited Liability | Limited Liability | Limited Liability |
| Documentation | MSME, GST Registration | Partnership Deed | LLP Deed, Incorporation Certificate | MOA, AOA, Incorporation Certificate |
| Governance | - | Under Partnership Act | LLP Act, 2008 | Under Companies Act,2013 |
| Transferability | Non Transferable | Transferable if registered under ROF | Transferable | Transferable |
| Compliance Requirements | Income tax filing if turnover is more than Rs.2.5 lakhs | ITR 5 | Form 11, Form 8, ITR 5 | ITR 6, MCA filing, Auditor'sappointment |
Documents Required for One Person Company Registration in India
To register a One Person Company (OPC) in India, the following documents are required:
Identity and Address Proof of the Director and Nominee
- PAN Card: Mandatory for Indian nationals as identity proof.
- Passport: Mandatory for foreign nationals as identity proof.
- Voter ID/Passport/Driving License/Aadhaar Card: Any of these can be used as identity proof for the director and nominee.
- Proof of nationality for Foreign Nationals: If the passport does not contain the date of birth, additional proof is needed.
- Residential Proof: Recent bank statements, utility bills like electricity bill, telephone bill, or mobile bill, which should not be older than 2 months.
Proof of Registered Office
- Conveyance/Lease deed/Rent Agreement: Along with rent receipts if the premises are rented.
- Utility Bills: Such as telephone, gas, electricity bills, etc., not older than two months, to prove the location of the office.
- No Objection Certificate (NOC): From the landlord if the registered office is rented.
Other Documents
- Digital Signature Certificate (DSC): For the proposed director, which is necessary for filing the registration documents electronically.
- Director Identification Number (DIN): For the proposed director, which is a unique identification number.
- Memorandum of Association (MoA) and Articles of Association (AoA): These documents outline the objectives, rules, and regulations of the company.
- Passport Size Photographs: Of the director and nominee.
- Consent of Nominee: In Form INC-3 along with the nominee’s PAN card and Aadhaar card.
- Proof of Identity and Address of the Nominee: Similar documents as required for the director.
Registration Process
The registration process involves obtaining the DSC and DIN, reserving the company name through the RUN service or SPICe+ Part A, drafting the MoA and AoA, and filing the incorporation application online through the SPICe+ form. Once the documents are verified and approved by the Ministry of Corporate Affairs (MCA), the Certificate of Incorporation, PAN, and TAN are issued.The entire process is digital, and physical presence is not required. The documents can be submitted online, and the process typically takes around 7-15 working days, subject to government processing times
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One Person Company (OPC) Registration FAQ’s
How to incorporate an OPC?
Incorporation through SPICe (Without filling RUN)
Stakeholders can avail of 5 different services (Name Reservation, Allotment of Director Identification number (DIN), Incorporation of New Company, Allotment of PAN and Allotment of TAN) in one form by applying for Incorporation of a new company through SPICe form (INC-32) – Simplified Proforma for Incorporating Company electronically (SPICe) – with eMoA (INC-33), eAOA (INC-34). In case eMoA, eAoA are not applicable, users are required to attach the pdf attachments of MoA and AoA. There is no need for reserving a name separately before filing SPICe. One name for the proposed company can be applied through SPICe (INC-32).
Incorporation through SPICe (With RUN)
Name reservation: RUN service shall be used for name availability.
Incorporate OPC: After name approval, form SPICe shall be filed for incorporation of the OPC within 20 days from the data of approval of RUN.
The company shall file form INC-22 within 30 days once form SPICe is registered in case the address of correspondence and registered office address are not same.
How to inform RoC about change in membership of OPC?
The company shall file form INC-4 in case of cessation of member of OPC on account of death, incapacity to contract or change in ownership. In the same form, user needs to provide details of the new member of the OPC.
Is there any threshold limits for an OPC to mandatorily get converted into either private or public company?
In case the paid up share capital of an OPC exceeds fifty lakh rupees or its average annual turnover of immediately preceding three consecutive financial years exceeds two crore rupees, then the OPC has to mandatorily convert itself into private or public company.
How to intimate RoC that the OPC has exceeded the threshold limits and require conversion into private or public company?
The OPC shall inform RoC in form INC-5, if the threshold limits is exceeded and is required to be converted into private or public company.
What is the time limit for filing form INC-5?
Form INC-5 shall be filed within sixty days of exceeding threshold limits.
Is there any form that is to be filed for conversion of an OPC into private or public company? Is there any other purpose for filing this form?
Form INC-6 shall be filed by an OPC for conversion of an OPC into private or public company.
Yes, the private company will also file form INC-6 for converting itself into an OPC. The paid up share capital of private company should not be exceeding fifty lakh rupees and should not have average annual turnover more than two crore rupees at the time of such conversion into OPC. The company shall be having one member and shall appoint one nominee to act as member in case of death or incapacity of the member at the time of conversion into OPC.
What is the time limit for filing form INC-6?
Form INC-6 shall be filed within 30 days in case of voluntary conversion and within six months of mandatory conversion.
Who is eligible to act as a member of an OPC?
Only a natural person who is an Indian citizen and resident in India shall be eligible to act as a member and nominee of an OPC.
For the above purpose, the term “resident in India” means a person who has stayed in India for a period of not less than one hundred and eighty two days during the immediately preceding one financial year.
A person can be a member in how many OPCs?
A person can be member in only one OPC.
What if a member of an OPC becomes a member in another OPC by virtue of being a nominee in that other OPC?
Where a natural person, being member in One Person Company becomes a member in another OPC by virtue of his being a nominee in that OPC, then such person shall meet the eligibility criteria of being a member in only one OPC within a period of one hundred and eighty days, i.e., he/she shall withdraw his membership from either of the OPCs within one hundred and eighty days.
Which form is to be filed in case of withdrawal of consent by the nominee of an OPC or in case of intimation of change in nominee by the member?
Form INC-4 shall be filed in case of withdrawal of consent by the nominee or in case of intimation of change in nominee by the member.
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