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
Minimum two Directors are required and the above pricing is for 2 Directors only, extra Director will cost ₹2500/partner.
Two names must be provided for name availability in advance and the above price is only for single run, if name is rejected in first run then ₹2000 extra will be charge for each run.
We do our initial research for name availability but final decision will be taken by the Registrar, hence we take no responsibility of name reservation as its solely depends on the registrar.
Duration time starts after the submission of all signed documents excluding holidays and delays are also depends on the response from the MCA.
A person can be a member of only one OPC and foreign citizen can’t apply for OPC.
This offer can’t be clubbed with any other offer.
Kanoons reserves the right to change this offer anytime without any prior notice.
All prices are excluding taxes.
All other general terms and conditions applied.
One Person Company
The One Person Company (OPC)Â 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.
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Kanoons is the industry leader in business registration services in India, supplying an assortment of business registration including private limited company registration, One Person company enrollment, Nidhi Company Registration,Section 8 Company Registration, Producer Company Registration and Indian Subsidiary registration. The normal time required to complete a one person company enrollment is about 10 – 15 working days, subject to authorities processing period and customer document entry. Receive a totally free consultation for a One Person company registration and company installation in India by scheduling a consultation with a Kanoons Advisor.
Eligibility Criteria
Before you pass beforehand and sign up a one-man or woman company (OPC), it is essential to recognize the particular eligibility criteria and obstacles that govern its formation. The Companies Act sets out clear requirements that have to be met to make certain that the character selling the OPC is eligible to achieve this.
Natural Person and Indian Citizen:Â Only a herbal man or woman who’s an Indian citizen can establish an OPC. Legal entities like businesses or LLPs can not create an OPC.
Resident in India:Â The promoter should be a resident in India, meaning they have to have lived in India for as a minimum 182 days throughout the previous calendar year.
Minimum Authorized Capital:Â The OPC need to have a minimal legal capital of Rs 1 00,000, the amount said within the agency’s capital clause all through the registration.
Nominee Appointment:Â The promoter should appoint a nominee all through the OPC’s incorporation. This nominee might turn out to be a member of the OPC inside the occasion of the promoter’s dying or disability.
Restrictions on Certain Businesses:Â Businesses worried in financial activities such as banking, insurance, or investments can not be hooked up as OPCs.
Conversion to Private Limited Company:Â If the OPC’s paid-up proportion capital exceeds 50 lakhs or its average annual turnover surpasses 2 Crores, it have to be converted right into a personal restrained organization to conform with the regulatory requirements for larger companies.
It’s worth noting that an man or woman can set up only one OPC, and an OPC can not have a minor as its member.
Advantages of One Person Company (OPC)
Advantages of One Person Company (OPC) include the following:
Legal Status:Â An OPC obtains a separate felony entity repute, safeguarding the character who based it from non-public liability for corporation losses.
Easy Fundraising:Â Being a personal company, OPCs locate it less complicated to elevate budget through challenge capitalists, angel investors, and banks as compared to proprietorship companies.
Reduced Compliance:Â OPCs enjoy sure exemptions from compliance requirements underneath the Companies Act, 2013, simplifying administrative obligations.
Simple Incorporation:Â OPCs may be mounted with simply one member and one nominee, with the member additionally serving as the director. No minimum paid-up capital requirement simplifies the incorporation technique.
Efficient Management:Â With a single person dealing with the OPC, decision-making is rapid, leading to green organisation management without conflicts or delays.
Perpetual Succession:Â OPCs keep perpetual succession, making sure the organisation’s continuity in spite of handiest one member.
In end, OPCs offer numerous blessings, together with restrained legal responsibility, ease of fundraising, reduced compliance, sincere incorporation and management, and perpetual succession.
Disadvantages of OPC
While OPCs offer benefits, there also are limitations:
Suitable for Small Businesses:Â OPCs are by and large suitable for small-scale agencies as they are able to simplest have one member. This limits their capability to elevate extra capital because the commercial enterprise expands.
Restriction on Business Activities:Â OPCs are restrained from carrying out certain sports, which include non-banking monetary investments and charitable goals.
Ownership and Management:Â There’s a loss of clean difference between possession and control in OPCs, as the only member can also be the director. This can potentially lead to moral concerns or conflicts of interest.
Why Kanoons for OPC Registration?
Kanoons is the proper associate for One Person Company (OPC) registration for several compelling motives. With years of expertise in company registration and a deep understanding of the regulatory panorama, Kanoons simplifies the often complicated OPC registration system.
We offer professional guidance, from name reservation to document guidance and submission. Our commitment to accuracy and compliance ensures that your OPC registration adheres to all legal necessities, whilst our committed aid group is with ease available to address any queries or concerns you may have.
Get started now and embark in your entrepreneurial journey with self belief!
Post-Incorporation Formalities for OPC
Following the a success incorporation of a One Person Company (OPC), precise compliance formalities should be adhered to, similar to the ones relevant to private confined groups. Our specialists are prepared to assist you in pleasant OPC compliance requirements, making sure that your business remains in complete felony compliance.
*Account Opening: We just assist you in opening Current Account in one of our partner’s bank.
No Late Fee
It has been observed that numerous small businesses incur significant penalties every year for late filing of various statutory returns to the Government. These penalties are non-tax-deductible and can adversely affect the profitability of these enterprises. At Kanoons, our primary objective is to offer cost-effective services to our clients and assist them in avoiding any late fees. In line with our commitment, we have developed cutting-edge technology that enables businesses to stay ahead of compliance requirements and prevent any penalties. Explore our range of compliance services below to ensure smooth and hassle-free operations.
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 GSTÂ 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.
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