Convert your Sole Proprietorship firm to One Person Company (OPC). Register your One Person Company with Ebifiling.com INR 9899/- only.
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A sole proprietorship also referred to as a sole trader or a proprietorship is an unincorporated business that has just one owner who pays personal income tax on profits earned from the business.
One Person company on the other hand is a company which has only one person as its member. An OPC is effectively a company that has only one shareholder as its member. One person company provides more advantages such as Limited Liability, legal Status, and Corporate Identity, Quick Decision-Making, Flexible in Management, easy bank operation, and reduced taxation burdens.
OPC is one of the easiest forms of corporate entities to manage. OPC is a hybrid of Sole-Proprietorship and Corporate form of business. It has been provided with concessions in compliance requirements under the Companies Act. It is a form of a company where the compliance requirements are lesser than a private company.
When it comes to registration process there is no explicit way to register a Sole Proprietorship and on the contrary, there is lesser compliance which is to be followed for registering a One Person Company.
The concept of OPC opens up new business opportunities for sole proprietors and entrepreneurs who also wish to enjoy the advantages of limited liability, and a separate legal entity as well. OPC does away the hassles of finding the right partner for starting a business as the registered entity. It requires only one person who will act as a member, shareholder and director.
Clear your confusion- read: Sole Proprietorship VS OPC
EbizFiling.com is an eminent business platform and a progressive concept, which helps end-to-end incorporation, compliance, advisory and management consultancy services to clients in India and abroad. Incorporating a One Person Company is easy, seamless, cheapest and quickest with EbizFiling.com! Apart from a One Person Company, EbizFiling.com also helps entrepreneurs with Private Limited Company Registration, Public Limited Company Registration, Partnership Registration, HUF, LLP Incorporation and Proprietorship Firm Registration easily. You may get in touch with us for free advisory on all the services.
(All Inclusive)
(All Inclusive)
(All Inclusive)
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.
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.
A Company must have a registered office in India. Documents like bank statement or electricity bill should not be older than 2 months. Along with that utility bill, rent agreement or sale deed and a No Objection Letter (NOC) from the landlord with his/her consent to use the office as a registered office of a company must be submitted.
5 Easy Steps
Obtain DSC
Reserve Your Company Name
Submission of MOA & AOA
Get Incorporation Certificate
Get Company’s PAN & TAN
A compliance manager will get in touch with you to collect your documents along with a simple checklist. You need to fill up that checklist and submit along with your documents for verification. Our team of experts will verify the documents provided by you and take the procedure further. The compliance manager dedicated to you will keep you updated on the progress of Company Registration throughout the process.
Once your documents along with Checklist are submitted, we shall proceed with the application of your Digital Signature and subsequently will apply for the approval of name for your One Person Company. You may suggest up to three names of your choice. Names should be unique and suggestive of the Company’s business. We will proceed with application for name for your One Person Company in Part A of SPICe Plus form.
We will draft the MOA (Memorandum of association) and AOA (Articles of association). We will file the incorporation documents with MCA through in part B of a form called “SPICe Plus (SPICe +)” along with the subscription statement. Usually, MCA approves the forms within 4-5 days once filed and issues Incorporation Certificate with CIN. PAN & TAN are allotted alongside. You may then proceed to open your Company Bank Account.
As the name suggests, a One Person Company can be started with one director.
A nominee is a person who in the event of death or disability of the subscriber of the One Person Company shall assume his position. Memorandum of Association of an One Person Company will mandatorily prescribe the name of the person.
Yes. Anyone can be appointed as a nominee, provided he or she holds a correct PAN in his or her name.
Yes. A nominee can be changed at any time with due intimation to the Registrar.
Yes, NRIs / Foreign Nationals / Foreign Companies can hold shares of a Private Limited Company subject to Foreign Direct Investment (FDI) Guidelines.
Director Identification Number is a unique identification number assigned to all existing and proposed Directors of a Company. It is mandatory for all present or proposed Directors to have a Director Identification Number. Director Identification Number never expires and a person can have only one Director Identification Number.
No, FDI is not allowed for One Person Company. You may consider incorporating a Private Limited Company if you desire to bring FDI.
Yes, the Act has not made any restriction for a One Person Company to become a member of another Private Limited Company.
A One person company can easily be converted to a Public or Private Limited Company.
No, you will not have to be present for registering of an OPC. This is completely online process.
Ebizfiling.com provides One Person Company(OPC) registration all across India. You can obtain One Person Company(OPC) registration in Ahmedabad, Mumbai, Pune, Bangalore, Chennai, Delhi, Kolkata, Kanpur, Nagpur, Jaipur or any other cities easily with us.
Don’t worry!! Our expert will help you to choose best suitable plan for you. Get in touch with our team to get all your queries resolved. Write us on info@ebizfiling.com or call us @+91 9643 203 209.
Convert your Sole Proprietorship firm to One Person Company (OPC). Register your One Person Company with Ebifiling.com INR 9899/- only.
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