What is OPC Registration ?

The idea of One Person Company (OPC) in India was introduced to give a boost to entrepreneurs who have great potential to start their own venture by allowing them to create a single person company. Since, no intervention from any third party is seen, it makes it more beneficial. So, if you want to start up your own business, you don’t have to worry about all the complex and tedious processes.

One Person Companies are helping tremendously in increasing the overall economy of India. More and more Entrepreneurs are coming up and setting up their business. Since, no intervention from any third party is seen, it makes it more beneficial.

Our Company Registration package includes the following:

  • DSC for one director and DIN for up to three directors
  • Drafting of MoA & AoA
  • Registration fees and stamp duty
  • Company Incorporation Certificate

One Person Company, which is a new concept in India, already sees a big boom. A huge impact on the economy and development of nation is expected. It gives opportunities to many and will therefore bring creative and young minds in front of everyone. So, if you want to start up your own business, you don’t have to worry about all the complex and tedious processes.

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 member in how many OPCs?

A person can be a member of only one OPC.

Is there any tax advantage on forming an OPC?

There is no specific tax advantage to an OPC over any other form. The tax rate is flat 30%, other tax provisions like MAT & Dividend Distribution Tax applies as they apply to any other form of company.

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 a private or public company.

What is the mandatory compliance that an OPC needs to observe?

The basic mandatory compliance are:- a. Atleast one Board Meeting in each half of calendar year and time gap between the two Board Meetings should not be less than 90 days. b. Maintenance of proper books of accounts. c. Statutory audit of Financial Statements. d. Filing of business income tax return every year before 30th September . e. Filing of Financial Statements in Form AOC-4 and ROC Annual return in Form MGT 7.

Who cannot form a One Person Company?

A minor shall not eligible becoming a member a. Foreign citizen b. Non Resident c. Any person incapacitated by contract

How to convert an OPC to a Private limited company?

Mandatory Conversion of One Person Company (OPC) to Private Limited Company (PLC) is required in case a One Person Company meets certain parameters, like: a. Effective date of increase in the paid-up share capital of a One Person Capital beyond rupees fifty lakhs, AND b. An increase of average annual turnover during the period of immediately preceding three consecutive financial years is beyond rupees two crores. In the above case, the One Person Company shall be mandatorily required to convert itself into either a private or a public company Within a Period of Six Months. In this article, we also look at the procedure for conversion of one Person Company into a private limited company or limited company.

One Person Company (OPC): Process of Registration

  • DSC for one director and DIN for up to three directors
  • Drafting of MoA & AoA
  • Name Approval Application
  • Registration fees and stamp duty
  • Company Incorporation Certificate
  • Apply for DSC:

    The first Step is to obtain the Digital Signature Certificate (DSC) of the proposed Director which required the following documents:

    • Address Proof
    • Aadhaar card
    • PAN card
    • Photo
    • Email Id
    • Phone Number

  • Apply for DIN

    Once the Digital Signature Certificate (DSC) is made, the next step is to apply for the Director Identification Number (DIN) of the proposed Director in SPICe Form along with the name and the address proof of the director. Form DIR-3 is the option only available for existing companies. It means with effect from January 2018, the applicant need not file Form DIR-3 separately. Now DIN can be applied within SPICe form for up to three directors.

  • Name Approval Application

    The next step while incorporating an OPC is to decide on the name of the Company. The name of the Company will be in the form of “ABC (OPC) Private Limited”. There are 2 options available for getting name approved by making application in Form SPICe 32 or by using RUN Web service of MCA by giving only 1 preferred name along with the significance of keeping that name. However, with effect from March 23, 2018, Ministry has decided to permit two proposed Names and one re-submission (RSUB) while reserving Unique Names (RUN Service) for the Companies. Once the name is approved by the MCA we move on to the next step.

  • Filing of forms with MCA

    All these documents will be attached to SPICe Form, SPICe-MOA and SPICe-AOA along with the DSC of the Director and the professional, and will be uploaded to the MCA site for approval. After uploading, Form 49A and 49B will be generated for the PAN and TAN generation of the Company which have to be uploaded to MCA after affixing the DSC of the proposed Director.

  • Issue of the certificate of Incorporation

    On verification, the Registrar of Companies (ROC) will issue a Certificate of Incorporation and we can commence our business.

  • Documents To Be Submitted

    • The Memorandum of Association (MoA) which are the objects to be followed by the Company or stating the business for which the company is going to be incorporated.
    • The Articles of the Association (AoA) which lays down the by-laws on which the company will operate..
    • Since there are only 1 Director and a member, a nominee on behalf of such person has to be appointed because in case he becomes incapacitated or dies and cannot perform his duties the nominee will perform on behalf of the director and take his place. His consent in Form INC – 3 will be taken along with his PAN card and Aadhar Card.
    • Proof of the Registered office of the proposed Company along with the proof of ownership and a NOC from the owner.
    • Affidavit and Consent of the proposed Director of Form INC -9 and DIR – 2 resp.

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