One Person Company
One Person Company is a new type of business entity that allows a single entrepreneur to operate a corporate entity with limited liability protection
e4efilings helps you register OPC for 11499/- (All Inclusive)
What is a One person Company or OPC?
The concept of One Person Company in India was introduced through the Companies Act, 2013 to support entrepreneurs who on their own are capable of starting a venture by allowing them to create a single person economic entity. One of the biggest advantages of a One Person Company (OPC) is that there can be only one member in a OPC, while a minimum of two members are required for incorporating and maintaining a Private Limited Company or a Limited Liability Partnership (LLP). Similar to a Company, a One Person Company is a separate legal entity from its promoter, offering limited liability protection to its sole shareholder, while having continuity of business and being easy to incorporate.
Benefits of Registering a One Person Company
A One Person Company is the only type of corporate entity that can be started and operated by a single promoter with limited liability protection in India. A corporate form of legal entity in One Person Company ensures that the business has perpertual existence and easy ownership transferability
A company has ‘perpetual succession’, meaning uninterrupted existence until it is legally dissolved. A company being a separate legal person, is unaffected by the death or other departure of any member and continues to be in existence irrespective of the changes in ownership
Can Own Property
one person company being an artificial person, can acquire, own, enjoy and alienate, property in its name. The property owned by a company could be machinery, building, intangible assets, land, residential property, factory, etc., No shareholder can make a claim upon the property of the company – as long as the company is a going concern.
Ownership of a business can be easily transferred in a company by transferring shares. The signing, filing and transfer of share transfer form and share certificates is sufficient to transfer ownership of a company. In a one person company,
Can Raise Debts
Companies can raise equity funds in India, However it cannot issue shares to the general public. Banks and Financial Institutions prefer to provide funding to a company rather than partnership firms or proprietary concerns
Frequently Asked Questions
If your query is not solved Please contact us!
What Documents are required for company registration?
- Scanned copy of PAN Card or attested scanned copy of Passport if you are an NRI or a Foreign National
- Scanned Copy of Voter’s ID/Passport/Driver’s License
- Scanned Copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
- Ofcourse a scanned Passport Sized Photograph of yours
- Specimen signature on a blank document of proposed directors
- Directors please self attest the first three documents
What is the Process of company registration in India?
- First step is to create Digital Signature Certificate or DSC and atleast two of them will be required to in order to obtain Director Identification Number or DIN
- Name approval for your proposed company
- Memorandum & Article of Association (MOA & AOA) (Don’t worry We’ll draft it for you)
- SPICe i.e. INC-32 Approval and your company is now incorported and a certificate has been issued along with your PAN as well as TAN by ROC for the same
What is a DSC or Digital Signature Certificate?
The DSC is an instrument issued by certifying authorities by which you can sign electronic documents. As all documents needed are electronic, So we are going to need a DSC for each Proposed Director (Don’t worry the process for getting a DSC is too easy and we help you get it)
What problems I might face while getting my company's name approved?
Mostly the Registrar of the companies (ROC) expect applicant to follow naming guidelines laid down by the The Companies Act 2013, The more closely you follow the rules, the your better chances of approval
- First ensure that your name is available
- Try not to pick a name that is too well-known. For E.g. Flipkart is a well known company so the ROC might reject your application even though you have separate set of business objectives
- Do not use any abbreviations, adjectives and generic words because they are straight away rejected. For E.g. If you Choose a name like ABC, XYZ or BBC it’ll be rejected. The word Bank, Exchange, coorporation, Nidhi, stock exchange will be rejected unless you take proper permission from relevant authority
- Do not pick a name that is registered by any other entity as trademark. However if you are able to get an NOC (Non Objection Certificate) from that entity you might get that name approved
How many days does it take to get a company registered?
3 Working Days
One director must apply for the Digital Signature Certificate (DSC), which is necessary to file the company registration documents. For this, you will only need to provide a few scanned documents and details
7 Working Days
As soon as we apply for the DSC, we will ask you to pick a name for your company, and send us some scanned documents regarding it and its directors. These will be used to file SPICe i.e. INC-32 and the Memorandum of Association (MoA) and Articles of Association (AoA). The Certificate of Incorporation will be approved at the end of this process. You’ll also get your PAN and TAN numbers printed on the Certificate of incorporation
How many Directors and Shareholders can be there in a Private limited Company?
Minimum 2 Directors and Shareholders are required to register a private company However, Maximum number of Directors can be 15 and maximum shareholders can be 200
How much amount of money is required to invest in the beginning?
Good news is that in India companies do not need to have any paid up Capital that means you don’t have to introduce any money into the company
SEE MORE OPTIONS
An integrated Platform for best in class business services
We help business become effective business