One Person Company Registration
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One Person Company Registration With RegisterKaro
STEP 1:Get on Call with Expert
Simply fill the above form to get on-call with our experts, so that we can tailor our services to your business needs
STEP 2: Submit Document
Once You Submit The Document We draft and file the documents required for your OPC registration (MoA, AoA, PAN, & TAN).
STEP 3: Get Your OPC Register
We help you with the post-registration formalities and compliances.
How to Register a OPC in India?
Today, company registration process and other regulatory filings are paperless; documents are filed electronically through the MCA website and is processed at the Central Registration Centre (CRC).
Company Registration process is completely online. Upon completing all registration formalities, the Registrar of Companies’ issues a digitally signed Certificate of Incorporation (COI). Electronic certificates issued by the ministry can be verified by all stakeholders on the MCA website itself.
Incorporating a company is a systematic process of collection and submission of details required as per the requirements of Companies Act 2013 and as per the process defined by the Ministry of Corporate Affairs from time to time. Management of the process requires in-depth knowledge of legal requirements and not to mention, practical experience of the same
Benefits Of OPC Registration
1.Legal status :
The OPC receives a separate legal entity status from the member. The separate legal entity of the OPC gives protection to the single individual who has incorporated it. The liability of the member is limited to his/her shares, and he/she is not personally liable for the loss of the company. Thus, the creditors can sue the OPC and not the member or director.
2.Easy to obtain funds :
Since OPC is a private company, it is easy to go for fundraising through venture capitals, angel investors, incubators etc. The Banks and the Financial Institutions prefer to grant loans to a company rather than a proprietorship firm. Thus, it becomes easy to obtain funds.
3.Less compliance's :
The Companies Act, 2013 provides certain exemptions to the OPC with relation to compliance's. The OPC need not prepare the cash flow statement. The company secretary need not sign the books of accounts and annual returns and be signed only by the director.
4.Easy incorporation :
It is easy to incorporate OPC as only one member and one nominee is required for its incorporation. The member can be the director also. The minimum authorised capital for incorporating OPC is Rs.1 lakh but there is no minimum paid-up capital requirement. Thus, it is easy to incorporate as compared to the other forms of company.
5.Easy to manage :
Since a single person can establish and run the OPC, it becomes easy to manage its affairs. It is easy to make decisions, and the decision-making process is quick. The ordinary and special resolutions can be passed by the member easily by entering them into the minute book and signed by the sole member. Thus, running and managing the company is easy as there won’t be any conflict or delay within the company.
6.Perpetual succession :
The OPC has the feature of perpetual succession even when there is only one member. While incorporating the OPC, the single-member needs to appoint a nominee. Upon the member’s death, the nominee will run the company in the member’s place.
Procedure For OPC Registration
Complete OPC Form
You are required to fill your details in our simple online questionnaire.
Obtain DSC and DIN for OPC
Then, we shall obtain DSC and DIN for directors and apply for the name approval of OPC.
Verification and Approval
Details provided by you for OPC registration will be verified by our experts.
Your OPC is Ready
Once your OPC is registered, we shall send you TAN and PAN via courier.
BENEFITS OF INCORPORATING AN OPC
No personal liability to the owners of a company.
Easier to raise funds and loans from banks.
1.No Minimum Capital
There is No minimum capital is required to form a One Person Company. It can be registered even with Rs. 10,000 as total Authorized Share capital.
2.Separate Legal Entity
An OPC enjoys the benefit of Separate Legal Identity which clearly states that assets and liabilities of the business are not the assets and liabilities of the Directors or shareholders.
A shareholder or the owner of a Company has a limited liability towards the company. His/her liability is limited up to the shares subscribed by him/her.
For the purpose of Annual filing and other compliances, One Person Company is treated as a Private Limited Company. However, it is exempted from many compliances. It does not have to hold AGM every year.
All the information relating to the one person company are made available in a public database. This feature makes it easy to authenticate the existence of the business that ultimately helps in improving business credibility.
The company keeps on existing in the eyes of law even in the case of death, insolvency, the bankruptcy of any of its member or shareholder. It continues as a legal person until it is legally dissolved.
Is there any difference between One-Person Company and Sole Proprietorship?
In an OPC a single person can run a company limited by shares and in sole proprietorships, the entity is owned by a person where there is no distinction between the owner and the business. Here is the difference between them:
In an OPC as it is a separate legal entity the liability of the shareholder is limited to unpaid subscription money in his name. On the other hand, the liability of the sole proprietorship is such that any claims made against him will be made against the business.
An OPC can be considered in the same Tax Bracket of taxation as the other private companies because though the OPC is incorporated under the Companies Act,2013 the concept of OPCs does not exist in the tax laws. On the contrary, the Sole proprietorships are required to file the Income-tax returns as the proprietorship and the proprietor are considered to be one under the tax law.
A nominee is appointed by the member. The Nominee will run the Company in the event of death of the member or incapacitation. But in the case of the sole proprietorship, this can only happen by executing a will that may or may not is challenged in a court of law.
An OPC registered in India has to file annual returns just like a normal company and would also need to get the accounts audited for the same. Whereas the sole proprietorship would only need to get audited under the provisions of Section 44AB of the Income Tax Act,1961 once the turnover crosses the threshold.
What Documents Will You Need To Register An OPC?
Identity proof of director and
Address proof of director and nominee
NOC from landlord
Passport size photo of director
1.Documents from Director / Shareholder /Nominee:
A. Identity Proof:
1) Permanent Account Number (PAN) Card
2) Aadhaar Card / Passport / Driving License / Voter Identity Card
1) Telephone Bill / Mobile Bill
2) Electricity Bill / Water Bill
3) Bank Statement /Bank Passbook with latest transactions
(Any one of the Document not older than 2 months)
C. Passport size Photographs – 3 each
Telephone Bill / Mobile Bill/Electricity Bill / Bank Account Statement must be in the name of applicant and should not be older than 2 months
- If the documents are not in than English, it should be translated to English
2.Documents to be Signed by all DIRECTOR(S):
Consent to Act as Director: Form DIR-2
Details for DIN
Declaration of DIN (If DIN is allotted already)
3. Documents to be Signed by Shareholder:
Application for Digital Signature Certificate (DSC)
Affidavit by Subscribers & Director: INC-9
4. Documents to be Signed by Nominee Shareholder:
Details of Nominee Shareholder
Consent by the Nomination of Shareholder – Form INC-3
5.Documents from Company / LLP / Trademark Owner, if any:
1) Board Resolution / Formal authorisation for use of Name / Trademark
2) Authorisation for execution Documents from Company / LLP
How can we help in registering your One Person Company in India?
The One person Company Registration process is completely online, so you don't even have to leave your home to get your entity registered. At Register Karo, we complete the Company Registration online within 14 days.
Register Karo Company Registration package includes:
DIN and DSC for one Director
Drafting of MoA & AoA
Registration fees and stamp duty
Company Incorporation Certificate
Company PAN and TAN
Company PF and ESIC Registration
Certificate of Commencement of business for the company