One Person
Company
Registration
Quick CA Services offers seamless One Person Company (OPC) registration, guiding you through the process efficiently. Establish your OPC effortlessly with expert assistance!
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One-Person Company (OPC) Registration in India
Section 2(62) of the Companies Act says that a one-person company is a company with just one person as its member. In simple terms, the member of a company is a shareholder. So, a one-person company means a company with only one shareholder. These companies are usually set up when only one person starts the business.
At Quick CA Services, we focus on making it easy to register your OPC. We help entrepreneurs deal with all the legal stuff without any problem. Our skilled team is here to help you all the way. We’ll help you with getting your papers ready and filing them. We’ll give you good guidance so you can make smart choices about setting up your OPC.
Contact us now and start making your business dreams come true!
What is One Person Company (OPC)
OPC registration in India started with the Companies Act of 2013. It allows individuals to start a company and get the advantages of running a business. This concept became available with the implementation of the Companies Act in 2013.
The main reason for opening an OPC was to help people start their businesses. The Companies Act 2013, Section 2(62), a company can be formed with just one director and one member.
Eligibility Criteria for One Person Company (OPC)
Before you go forward and register a one-person company (OPC) with Quick CA Services. It’s important to understand the eligibility criteria and rules that govern its formation. The Companies Act tells us the rules we need to follow to ensure the person promoting the OPC can do it.
Indian Citizen: Only a natural person who is an Indian citizen can start an OPC. Legal entities like companies cannot establish an OPC.
Indian Resident: The promoter must be a resident of India. They should have lived in India for a minimum of 182 days during the previous calendar year.
Minimum Authorized Capital: 100,000 is the minimum authorized capital required for OPC. The amount stated in the business capital clause during the registration.
Nominee Appointment: The promoter must select a nominee during the incorporation. This nominee would evolve into a member of the OPC in the event of the director’s death or incapacity.
Restrictions on Certain Businesses: Firms involved in financial activities can’t established as OPCs.
Advantages of One Person Company (OPC)
The advantages of One Person Company (OPC) include the following:
Legal Status: An OPC gets a separate legal entity status. Also protecting the individual who founded it from personal liability for company losses.
Easy Fundraising: OPCs can get money from investors more easily than other firms.
Low Compliance: An OPC gets special breaks from having to follow all the rules in the Companies Act, 2013. This makes the paperwork and administrative tasks easier.
Easy Incorporation: OPCs can start with only one person and one backup, where the person is also the boss. There’s no need for a specific amount of money to start, which makes the process simpler.
Effective Management: When one person runs the OPC, they can make decisions quickly. This helps the company run smoothly without arguments or delays.
Disadvantages of One Person Company (OPC) Registration
While OPCs offer advantages, there are also restrictions:
Suitable for Small Businesses: OPCs are best for small firms. They can only have one owner. This makes it harder to get more money when the business grows.
Restrict Activities: OPCs can’t do some things, like funding or doing charity work.
Ownership: Sometimes hard to know who runs the company because the owner can also be the director. This might cause problems with fairness or conflicts.
Required Documents for OPC
When you register an OPC, you need to make and give important papers to the Registrar of Companies (ROC).
SMemorandum of Association (MoA)
Articles of Association (AoA)
The nominee’s approval, along with their PAN card and Aadhaar card, must be submitted via Form INC-3.
Proof of Registered Office
Needs to fill out a form called INC-9 and another form called DIR-2 by the person who wants to be the director.
Registration Process for One Person Company (OPC) in India
In India, you register a one-person company (OPC) using the SPICe+ form. It’s a new form that replaced the old ones for registering companies.
Part A: The first part of the SPICe+ form is about getting approval for the company name. Getting a Director Identification Number (DIN). Also Permanent Account Number (PAN) for the person who wants to be the director.
Part B: After that, there’s a part called Part B. In this part, you give more details about setting up the company. You say where the office is, how much money the company has, who the director is, and who the shareholder is.
In India, you register a one-person company (OPC) using the SPICe+ form. It’s a new form that replaced the old ones for registering companies.
Part A: The first part of the SPICe+ form is about getting approval for the company name. Getting a Director Identification Number (DIN). Also Permanent Account Number (PAN) for the person who wants to be the director.
Part B: After that, there’s a part called Part B. In this part, you give more details about setting up the company. You say where the office is, how much money the company has, who the director is, and who the shareholder is.
Step 1: Get a Digital Signature Certificate (DSC)
Reserve a Digital Signature Certificate (DSC) for the director of the OPC. The DSC is utilized for electronically signing crucial documents.
Step 2: Obtain Director Identification Number (DIN)
Get a Director Identification Number from the Ministry of Corporate Affairs.
Step 3: Name Reservation
Apply for business name reservation through the MCA portal using Form SPICe+ (Part A). Make sure the name you pick for your company is different from any other company or trademark.
Step 4: Prepare MOA and AOA
Draft the Articles of Association (AOA). Also, draft the Memorandum of Association (MOA) for your company. These documents describe the company’s objectives and internal rules.
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Step 5: File the Forms
File the necessary forms with the MCA for registration. Add the right papers to the SPICe+ form. These documents include the MOA, AOA, Statements, Proof of office, Nominee details, and any other papers needed by the MCA.
Step 6: Certificate of Incorporation
After you finish all the processes they will give you a Certificate of Incorporation. This means your one-person company is now officially registered. During this process, you’ll get a PAN number (Permanent Account Number). and a TAN (Tax Deduction and Collection Account Number), so you don’t have to apply for them separately.
Once you get the Certificate of Incorporation, your OPC will begin operating in India.
Why Quick CA Services for OPC Registration?
Quick CA Services is the best choice to help you register your OPC for many good reasons. Quick CA Services can help you register your one-person company (OPC) easily. They know a lot about it and have been doing it for a long time.
We offer expert advice, from name reservation to document preparation and submission. We promise to make sure your OPC registration follows all the rules correctly. If you have any questions or worries, our support team is here to help you.
Post-Incorporation Formalities for OPC
After your OPC is set up properly, you need to follow certain rules to make sure everything stays legal. Our experts are here to help you with these rules so your business always follows the law.