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OPC Registration

All you need to know

One person company (OPC) in India 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 various 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. OPC registration is very easy and cheap process.

 

OPC Registration 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.

 

One Person Company (OPC) registration fees:

 

Government fees for registering a One Person Company (OPC) in India depends on the nominal Share Capital of the company. For e.g. The Government fees for the OPC registration whose Share Capital is 10,00,000 the Government fees would be 2,000/- rupees. Whereas if nominal share capital ranges between Rs. 10,00,000 to Rs. 50,00,000 – Rs 2,000. Rs. 200 will be added for every Rs. 10,000 or part thereof of nominal share capital.

 

However, there would be additional costs such as DIN application fees, stamp duties, form filing fees as well for OPC Incorporation in India.

 

Do not miss filing Form 20A once you have registered your OPC !

 

Also Check: OPC Annual Compliances 

 

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. OPC Registration is online, easy, seamless, cheapest and quickest with EbizFiling.com! Apart from a One Person Company registration, EbizFiling.com also helps entrepreneurs with Private Limited Company Registration, Public Limited Company Registration, Partnership Registration, HUF, LLP Incorporation and Proprietorship Firm Registration easily. We also provide Secretarial Compliance Services at Ebizfiling. You may get in touch with our compliance manager on 09643203209 or email info@ebizfiling.com for free consultation.

One Person Company (OPC) Registration Fees

Choose Your Package

ESSENTIAL

6999/-

(All Inclusive)

  • Digital Signature Certificate
  • Director Identification Number
  • 1 Name Approval Application under RUN
  • Stamp duty on INR 1 Lakh Authorized Capital
  • Company Incorporation using SPICe
  • MOA & AOA
  • PAN
  • TAN
Popular

ENHANCED

9999/-

(All Inclusive)

  • Digital Signature Certificate
  • Director Identification Number
  • 1 Name Approval Application under RUN
  • Stamp duty on INR 1 Lakh Authorized Capital
  • Company Incorporation using SPICe
  • MOA & AOA
  • PAN
  • TAN
  • GST Registration
  • INC 20A Commencement of Business Certificate (form-20a)
  • Appointment of 1st Auditor

ULTIMATE

25399/-

(All Inclusive)

  • Digital Signature Certificate
  • Director Identification Number
  • 1 Name Approval Application under RUN
  • Stamp duty on INR 1 Lakh Authorized Capital
  • Company Incorporation using SPICe
  • MOA & AOA
  • PAN
  • TAN
  • SSI/MSME Registration
  • Trademark (1 application 1 class) (start ups, proprietorship & small business)
  • 1st Income Tax filing upto a turnover of Rs. 50 Lakhs
  • 1 Year TDS Filing upto 500 entries
  • 1st Annual Filing upto turnover of Rs. 50 Lakhs
  • 25 Copies of MOA
  • 25 Copies Of AOA
  • 10 Copies of Share Certificate
  • Company Seal
  • GST Registration
  • INC 20A Commencement of Business Certificate (form-20a)

Compliance required by a One Person Company

All you should know about necessary compliances

GST Registration

Every One Person company is required to get their GST Registration within 30 days of business incorporation  in India Under Goods & Service Tax Act. GST Registration is needed when the turnover is more than INR 40 lakhs or INR 20 lakhs in Special category states or If the One Person Company supplies goods intra-state or Provides goods and services online.

GST Return

Once a One Person Company gets registered under GST, it becomes necessary to file GST returns for Private Limited Company. As filing of GST returns is mandatory for all the registered Taxpayers including companies. GST returns can be filed monthly, quarterly or yearly depending upon the types of GST returns form you are filing.

Accounting

Every One Person company shall maintain proper books of accounts which shall represent an accurate and fair view of the state of affairs of the company. Accounting is necessary for the statutory audit, Annual filing and IT return filing which is mandatory once you start your Company. These books of accounts shall be audited by the auditor appointed by the company.

Statutory Audit

Every One Person Company registered under the Companies Act, 2013, irrespective of its sales turnover or nature of business or capital must have its book of accounts audited each financial year. Thus, the Board of Directors of a One Person Company are required by law to appoint an Auditor within 30 days of incorporation of the company and thereafter conduct an audit of its financial statements each FY.

MAT Audit

It is mandatory for the One Person Company to get their accounts audited under MAT i.e. Minimum Alternate Tax. The objective of the introduction of MAT was to bring into the tax net “zero tax companies” which in spite of having earned substantial book profits and having paid handsome dividends, do not pay any tax due to various tax concessions and incentives provided under the Income-tax Law.

Income Tax Audit

Irrespective of turnover every One Person Company requires to get the tax audits under section 44AB done. The Tax audit under section 44AB aims to ascertain the compliance of various provisions of the Income-tax Law and the fulfillment of other requirements of the Income-tax Law. The tax audit limit under section 44AB is INR 1 Crores (5 crores where at least 95 percent turnover is made on digital transactions)

ROC Annual filing

A One Person Company is mandatorily required to file 3 forms every year. Filing has to be done regarding submission of documents of financial statement, i.e. balance sheet, P&L account in ROC form AOC 4 and annual return in ROC form MGT-7. Company report about auditor’s appointment to ROC in Form ADT 1. Know more: ROC annual filing

IEC Registration

All the One Person Company which are engaged in Import and Export of goods require to register the Import Export Code. IE code has lifetime validity. Importers are not allowed to proceed without this code and exporters can’t take benefit of exports from DGFT, customs, Export Promotion Council, if they don’t have this code.

TM Registration

Registering a One Person Company with a name does not provide complete protection to the name or brand name. Ultimate protection for a business name is secured only by Trademark Registration of same. By trademark registration, you may get the ownership of your One Person Company’s name or brand name or logo etc.

Documents Required for One Person Company (OPC) Registration Process

Quick Checklist

  • Photograph of all the Directors and shareholders
  • PAN Card of all the Directors and shareholders
  • Self-Attested ID Proof of all the Directors (Driving License/Passport/Voter ID)
  • Electricity Bill or any other utility bill for the address proof of the Registered Office

Specific Requirements

 

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.

Benefits of One Person Company (OPC)

Points to make your decision easy

No Minimum Capital

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.

Separate Legal Entity

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.

Limited Liability

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.

Minimum compliances

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.

Builds Credibility

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.

Perpetual succession

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.

How to form an OPC?

 

Easy One Person Company Registration Process

1

Obtain DSC

2

Reserve Your Company Name

3

Submission of MOA & AOA

4

Get Incorporation Certificate

5

Get Company’s PAN & TAN

Fill a Simple Checklist

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.

OPC Name Approval

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.

OPC Registration

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.

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FAQs On OPC Registration

Get answers to all your queries

  • What is the minimum number of a director to form OPC?

    As the name suggests, a One Person Company can be started with one director.

  • Who is a nominee in a One Person Company?

    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 a One Person Company will mandatorily prescribe the name of the person.

  • Can I appoint my wife as my nominee for my One Person Company?

    Yes. Anyone can be appointed as a nominee, provided he or she holds a correct PAN in his or her name.

  • Can a nominee of a One Person Company be changed after incorporating the company?

    Yes. A nominee can be changed at any time with due intimation to the Registrar.

  • Is there any threshold limit for an OPC to mandatorily get converted into either private or public company?

    In case the paid up share capital of an OPC exceeds 50 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.

  • Can NRIs or Foreigners hold shares of a Private Limited Company?

    Yes, NRIs / Foreign Nationals / Foreign Companies can hold shares of a Private Limited Company subject to Foreign Direct Investment (FDI) Guidelines.

  • How to intimate RoC that the OPC has exceeded the threshold limits and require conversion into private or public company?

    The OPC shall inform RoC in form INC-5, if the threshold limit is exceeded and is required to be converted into private or public company.

  • Can I be a member in more than one OPC??

    No, A person can be member in only one OPC.

  • What is the Director Identification Number (DIN)?

    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.

  • Is Foreign Direct Investment allowed for One Person Company?

    No, FDI is not allowed for One Person Company. You may consider incorporating a Private Limited Company if you desire to bring FDI.

  • Can OPC become a member of another private Limited company?

    Yes, the Act has not made any restriction for a One Person Company to become a member of another Private Limited Company.

  • Whether an OPC can be converted to a Public Limited Company and vice versa?

    A One person company can easily be converted to a Public or Private Limited Company.

  • Do you have to be present in person to incorporate a One Person Company in India?

    No, you will not have to be present for registering of an OPC. OPC incorporation is a completely online process.

  • Which Cities do you provide your services?

    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.

  • Still, have confusion?

    Don’t worry!! Our expert will help you to choose a best suitable plan for you. Get in touch with our team to get all your queries resolved. Write to us at info@ebizfiling.com or call us @+91 9643 203 209.

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