One Person Company is a company that is the best option for the person who wants to run his business solely without any interference. OPC is a company which is registered under the companies act 2013, it is a type of private limited company and has all the features like a private limited company. In OPC only a single person can be the member and one person as a director, both member and director can be the same or different person. To register OPC there is no need to have more money to invest as capital in the company, the person can start the OPC with Rs. 1000/- as well. There is no minimum capital requirement to start the OPC but maximum capital in OPC can be Rs. 50 Lakhs, if capital exceeds this limit, then the OPC has to convert itself from OPC to either a private limited company or a public limited company. Apart from the director and shareholder in OPC, there will be one more person who will be nominated as a nominee of the company. The OPC can do any kind of business activity in the company except business which is related to finance, insurance, NBFCs, Banking etc. The OPC is always a good option in comparison to a sole proprietorship because in sole proprietorship the complete liability is upon the owner of the business but in the case of one person company, the liability of the member is always limited. After registration, the OPC has to do all the annual compliances regularly to avoid penalties and other consequences.
Process To Register OPC
- Name Reservation: The name reservation application shall be made to the registrar for reserving the name and once it is approved by the registrar it is reserved for 20 days only. The process should be completed in this period only otherwise the name will get expired and after that either have to apply for the extension or have to apply new application. The name of the OPC must contain the word “(OPC) Private Limited” at the end of the name.
- DIN & DSC: The director must have DSC (Digital Signature) to sign the forms for OPC registration. DIN is a unique identification number that is given to the directors of the company at the time of registration or after registration. If any person wants to become the director of the existing company, then he/she must have DIN before his/her appointment as a director in the company.
- Preparation of Documents: After name approval, the documents will be prepared and the same will be signed by the director and the nominee of the company. These documents will be submitted to the registrar along with the application for approval.
- Final Form: After completion of all the above steps the final form will be filled with all relevant information and details, all the documents will be attached in the form and then it is signed by the member and director with their DSC and then submitted to the registrar for their approval. If the registrar is satisfied with the application, then he will grant a certificate of incorporation and register the name of the company in their database.
Document List:
Member/Nominee/Director:
- Photo
- PAN card
- Identity proof (Voter id/Passport/Driving license), anyone
- Address proof (Bank statement/Mobile bill/Electricity bill/Telephone bill), anyone but not older than 2 months
Registered Office Address Proof:
- Owned then sale deed or house tax receipt, if rented then rent agreement
- Utility bill (Electricity bill/Mobile bill/Telephone bill/Gas bill), anyone but not older than 2 months
- NOC from the owner of the property.
For more details visit: Registerexperts.com
