The one-person company in recent times was launched as a structure of a sole proprietorship firm. the said person is going to be the shareholder and director (however, a director nominee is present, but has zero power until the important director proves incapable of carrying on). Also, there will be no opportunity for contributing to employee stock options or equity funding. Additionally, if an OPC has a mean turnover of ₹2 crores thrice in a very row and over or acquires a paid-up fund of ₹50 lakh and over, it’s to be converted to a non-public Ld. or public company within six months.
Benefits of OPC Registration
The directors’ property is often safe in a very private Ld., irrespective of the debts of the business.
Sole Proprietorships come to an end with the death of the sole proprietor. As an OPC company contains a separate legal identity, it’d expire to the nominee director and, therefore, still exist
As an OPC has to have its books audited annually, it’s greater credibility among vendors and lending institutions.
Documents Required for OPC Registration
• PAN card or passport
• Passport, for NRIs and foreign nationals
• Scanned transcript of license or voter’s ID
• Specimen signature or impression
• Passport-size photo.
Please Note: The OPC director must self-attest to the primary three documents. All paperwork for an overseas citizen or NRI must be notarised (if they’re currently residing in India or a non-commonwealth country) or apostilled (if living in a commonwealth country at present).
Documents Necessary for the Registered Office
• Scanned transcript of current checking account statement/phone or mobile invoice/gas or electricity invoice
• Scanned transcript of rental agreement written in the English
• Scanned copy of a no-objection certificate from the property owner
• Scanned copy of property.
Note: Your registered office space must be an advertisement premise; however, it will be the only director’s place of residence moreover. Process for One Person Company Incorporation
• Step 1: Check eligibility and documents
• Step 2: Apply for DSC & DIN of all the administrators
• Step 3: Application for name reservation
• Step 4: File Spice+ form for company incorporation
• Step 5: Apply for a PAN card and TAN for your new company
• Step 6: RoC issues a certificate of incorporation with a PAN card and TAN card.
• Step 7: Open checking account and begin operation. Package Inclusion
• Directors number for 1 director
• Digital signature certificate for 1 director
• Guidance for selecting the corporate name
• PAN and TAN
• Drafting the memorandum & articles of association, RoC filing fees for a certified capital, government revenue enhancement, and certificate of incorporation
• Name approval certificate
• GST registration
• PF registration
• ESI registration
• PT registration (only applicable in Maharashtra)