Description
Dir Documents:
Pan
Aaadhar
Voter/Driving License/Passport
Bank Statement/Passbook/Telephone Bill/Any Utility Bill
Photo
Nominee Documents:
INC-3
PAN
Aaadhar
Voter/Driving License/Passport
Bank Statement/Passbook/Telephone Bill/Any Utility Bill
Photo
Other Documents:
Electricity Bill / Property Tax
Rental Agreement
NOC
Includes: DSC, DIN, Name Reservation, MoA, AoA, Incorporation, Stamp Duty, PAN, TAN, GST Registration, EPFO Registration, ESIC, Bank Account Opening, Gov. Fee, Processing Fee.
Duration: 14 Working Days
Working Area: Pan India
One Person Company
The One Person Company (OPC) recently was started as a fantastic refinement within the sole proprietorship. In OPC, one promoter profits full authority within the business consequently restricting their accountability towards their gifts to the venture. Thus, the said individual is going to function as sole shareholder and director (nevertheless, a director nominee will be present, but has zero power before the true director proves incapable of becoming into the contract). Additionally, there may be no prospect for donating to employee stock options or equity financing. Furthermore, in case an OPC has an ordinary hattrick turnover of Rs. two crores and above or acquires a paid-up finance of Rs. 50 lakh and over, it needs to be converted into a private limited company or public limited company over 6 months. -kanoons.
The idea of a one person Company in India was introduced via the Company Act, 2013 to encourage entrepreneurs that to their own are capable of beginning an enterprise by letting them make one individual economic thing. Among the biggest benefits of a one person Company (OPC) is that there could be just 1 member at a OPC, even though a minimum of 2 members are necessary for integrating and maintaining a Private Limited Company or a Limited Liability Partnership (LLP). Somewhat like a Business, a one person Company is a separate legal entity from its own promoter, offering limited liability coverage to its only shareholder, while using continuity of company and being simple to incorporate. -kanoons.
Even though a One Person Company makes it possible for alone Entrepreneur to run a corporate entity with limited liability coverage, an OPC does have a few limitations. As an example, each One Person Company (OPC) must nominate a nominee Manager from the MOA and AOA of their firm – that is now the owner of the OPC if the sole Manager is not working. -kanoons.
Additionally, a One Person Company has to be transformed into a Private Limited Company when it strikes an yearly turnover of Rs.two crores and has to file audited financial statements together with the Ministry of Corporate Affairs at the end of each Financial Year such as all sorts of organizations. Therefore, It’s important for the Entrepreneur to carefully think about the features of a One Person Company before incorporation. -kanoons.
FAQ
How long is the incorporation of the Company valid for?
After a provider is incorporated, it is going to be busy and in-existence so long as the yearly compliances are satisfied frequently. If, annual compliances aren’t complied with, the business will develop into a Dormant business and possibly officially not allowed to continue after a time period. A struck-off Business Can be restored for a period of over 2 years. -kanoons
Who can form One Person Company?
An OPC Could be Shaped only by a natural person Who’s an Indian citizen and remained in India for a minimum of 182 days at the immediately Preceding calendar year. -kanoons.
What is a Digital Signature Certificate?
A Digital Signature determines the identity of the sender or signee digitally while submitting documents throughout the net. The Ministry of Corporate Affairs (MCA) mandates the Directors sign a number of their applicaton files using their Digital Signature. Thus, a Digital Signature is required for all Directors of a projected Business.
I am the only member of an OPC (Name not revealed). Recently my Average turnover crossed the limit or Rs. 2 crores. What should I do now?
As soon as your threshold limit is triggered either the paid-up capital or the typical turnover; the OPC is mandatorily required to convert itself into a Private business or a Public Company. Follow the steps below after crossing the threshold limitation.
Document form INC-5 to notify ROC concerning the violation of threshold limitation within 60 days of violation of limitation.
Convert your OPC into private or public Business according to the Companies Act, 2013 within six months period from the date of crossing of limit.
What is Director Identification Number (DIN)?
Director Identification Number is a special identification number assigned to all present and proposed Directors of a business. It’s compulsory for all proposed or present Directors to have a Director Identification Number. Director Identification Number never expires and an individual can have just one Director Identification Number.
What is the minimum number of Directors required to form an OPC?
Minimum one Director is needed to incorporate an OPC. Furthermore, the only member can become the first director of the Company until the member appoints any other director.
What is authorized capital fee?.
Licensed capital of a Company is the amount of shares a corporation may issue for this shareholders. Companies need to pay the Government an authorized capital fee to issue shares in a organization. Companies need to pay licensed capital fee for at least Rs.1 lakh.
Can I become a director in an OPC if I am in already in employment?
Yes, there’s not any such legal restriction from the Companies Act or even limited by the employment arrangement. All you have to do is assess your employment arrangement since it could restrict you from becoming a director in other business concurrently.
How to inform ROC about the change in Nominee?
Do the filing of INC-4 Together with the ROC Notifying about the shift in nominee or lack of approval by the Nominee.
You can also register GST at kanoons
How many people are required to incorporate a One Person Company?
To incorporate a OPC, a Director and Also a nominee is required. A nominee is just one, who will, in case of promoter member’s death or incapacitation eventually become a part of the business.
Is there any form required to be filed in case of conversion of OPC into a Private Limited or Public Limited Company?
Yes, form INC-6 must be registered with ROC in the event of conversion of OPC into any kind of this firm whether Public or Private firm. Further, a private business is also required to document INC-6 in the event of converting itself in an OPC.
What are the requirements to be a Director or Nominee in a OPC?
Just a natural person who’s an Indian citizen and a resident in India is qualified to incorporate a One Person Company or become a nominee member. The Director or Nominee should also be over 18 decades old. Someone could incorporate upto five One Individual businesses.
What if the Nominee of an OPC is now the member of the OPC and at the same time holds the position of the member in other OPC?
If a part of an OPC becomes the member of some other OPC then in 180 days that he is going to be asked to satisfy the statutory eligibility criteria to become a part of just 1 OPC and might need to withdraw his membership from OPC. -kanoons.
What is the capital required to start a One Person Company?
One Person Company may be launched with any quantity of capital. But, fee has to be paid into the Government for devoting a minimum of stocks worth Rs.1 lakh [Authorized Capital Fee] throughout the incorporation of this OPC. There’s not any need to demonstrate evidence of capital invested during the incorporation procedure.
Can I start more than one OPC at a time?
No, a person may form just 1 OPC at one time. This applies to the nominee within an OPC, also.
What do I need to quickly incorporate my One Person Company?.
To incorporate One Person Company quickly, be sure that the suggested name of the provider is quite unique. Names which are very similar to a current company / limited liability partnership / trademark could be rejected and extra time will be necessary for resubmission of names.
What are the documents required for incorporation?
Identity proof and address evidence is compulsory for each of the suggested Director and Nominee of this the One Person Company. PAN Card is mandatory. Additionally, the landlord of their registered office assumptions must offer a No Objection Certificate for being the registered office inside their assumptions and has to submit their identity evidence and address evidence.
OPC Registration Process Duration ?
5 BUSINESS DAYS
Primarily, the OPC director should request or apply to DSC otherwise called Digital Signature Certificate, which can be compulsory to document for the business registration documents. In order for this to come through, you just wants to submit several scanned files; and our representatives will file the form by filling it and place it online for entry.
7 BUSINESS DAYS
When the application to the DSC is completed, our representatives will ask you to decide on a title for your company and send us the applicable scanned files as well. The delivered files will be used to document for the SPICe i.e. INC-32 along with the MoA is otherwise called the Memorandum of Association and the AoA also referred to as the Articles of Association. In the end, at the conclusion of the procedure, the Certificate of Incorporation will be approved and processed.
21 BUSINESS DAYS
All Businesses need a documented PAN or Permanent Account Number and TAN or Tax Account Number. The application will be registered online by our agents, but you’ll be requested to courier the hard copies of their applicable and required documents on your own. post the processing, the TAN and PAN will soon be discharged to you for your registered office address just in 21 business days.
