One Person Company

?Introduction:

Embarking on an entrepreneurial journey as a One Person Company (OPC) offers unique opportunities and advantages. OPC allows individuals to establish a separate legal entity with limited liability while retaining full control over their business. At our One Person Company Startup service, we provide comprehensive assistance to help you navigate the process of setting up your OPC and ensure a smooth and successful start to your entrepreneurial venture.

Why Choose One Person Company Startup Services?

Simplified Incorporation Process:

We simplify the process of OPC incorporation, guiding you through each step with expertise and efficiency. From document preparation to filing, we handle the necessary paperwork to ensure a hassle-free experience.

Legal Compliance Assurance:

Compliance with legal requirements is crucial for the success and sustainability of your OPC. Our experienced professionals ensure that your OPC complies with all statutory and regulatory obligations, minimizing the risk of legal issues in the future.

Limited Liability Protection:

One of the key advantages of OPC is the limited liability protection it offers. As the sole shareholder, you enjoy personal asset protection, separating your personal and business liabilities.

Sole Ownership and Control:

As the sole owner of your OPC, you have complete control over decision-making and business operations. You can focus on your vision and execute your strategies without the need for consensus or involvement of partners or shareholders.

Professional Guidance:

Our expert team provides professional guidance throughout the OPC startup process. We offer insights into the legal and operational aspects, helping you make informed decisions and ensuring compliance with the applicable laws and regulations.

Document Preparation:

We assist in preparing the necessary documents for OPC incorporation, such as the Memorandum and Articles of Association, Director's consent, and nominee details. Our team ensures that the documentation is accurate, comprehensive, and tailored to meet your specific requirements.

Compliance Support:

Even after incorporation, we continue to provide ongoing compliance support. This includes annual filings, maintenance of registers and records, adherence to accounting standards, and compliance with tax obligations, ensuring your OPC remains in good standing.

Professional Networking Opportunities:

Through our OPC Startup service, you gain access to our professional network, including legal advisors, accountants, and industry experts. This network can prove invaluable as you navigate the challenges and opportunities of running your OPC.

Time and Cost Efficiency:

By availing our services, you save valuable time and resources. Our streamlined processes and expert assistance ensure an efficient startup experience, allowing you to focus on building and growing your OPC.

Documents required for OPC(One Person Company) Startup business as a services:

Director's Identification Number (DIN):

The director of the OPC needs to obtain a DIN, which is a unique identification number issued by the Ministry of Corporate Affairs (MCA).

Digital Signature Certificate (DSC):

A DSC is required for the director to sign and submit electronic documents during the incorporation process. It ensures the authenticity and integrity of the documents.

Name Reservation:

You need to select a unique name for your OPC and submit it for reservation. Provide at least one alternative name in case the first choice is not available. The name should adhere to the guidelines provided by the Registrar of Companies (ROC).

Memorandum of Association (MOA):

The MOA outlines the objectives, business activities, and scope of your OPC. It defines the relationship between the OPC and its shareholders and sets forth the powers and limitations of the company.

Articles of Association (AOA):

The AOA contains the internal regulations and rules that govern the operation of the OPC. It includes provisions related to the appointment and removal of directors, share capital, voting rights, and other administrative matters.

Director's Consent:

The director of the OPC must provide written consent to act as a director. This document confirms their willingness to undertake the responsibilities associated with the position.

Nominee Consent:

OPCs are required to nominate a nominee who will take over the OPC's management in the event of the director's death or incapacitation. The nominee must provide written consent to act as the nominee.

Registered Office Address Proof:

You need to provide a proof of the registered office address for your OPC, such as a rental agreement, utility bill, or property ownership documents. The address must be a physical location where official communications can be received.

One Person Company (OPC) Registration Process

Step 1: Apply for DSC

The first step is to obtain the Digital Signature Certificate (DSC) of the proposed Director which required the following documents:

• Address proof
• Aadhaar card
• PAN card
• Photo
• Email Id
• Phone number

Step 2: Apply for DIN

Once the Digital Signature Certificate (DSC) is made, the next step is to apply for the Director Identification Number (DIN) of the proposed Director in SPICe+ Form along with the name and the address proof of the director. Form DIR-3 is the option only available for existing companies. It means with effect from January 2018, the applicant need not file Form DIR-3 separately. Now DIN can be applied within the SPICe+ form for up to three directors.

Step 3: Name Approval Application

The next step while incorporating an OPC is to decide on the name of the Company. The name of the Company will be in the form of “ABC (OPC) Private Limited”.

The name can be approved in the Form SPICe+ 32 application. Only one preferred name along with the significance of keeping that name can be given in the Form SPICe+ 32 application. If the name gets rejected, another name can be submitted by applying another Form SPICe+ 32 application.

Once the name is approved by the MCA we move on to the next step.  

Step 4: Documents Required

We have to prepare the following documents which are required to be submitted to the ROC:

• The Memorandum of Association (MoA) which are the objects to be followed by the Company or stating the business for which the company is going to be incorporated.
• The Articles of the Association (AoA) lays down the by-laws on which the company will operate.
• Since there are only 1 Director and a member, a nominee on behalf of such a person has to be appointed because in case he becomes incapacitated or dies and cannot perform his duties the nominee will perform on behalf of the director and take his place. His consent in Form INC – 3 will be taken along with his PAN card and Aadhar Card.
• Proof of the Registered office of the proposed Company along with the proof of ownership and a NOC from the owner.
• Declaration and Consent of the proposed Director of Form INC -9 and DIR – 2 respectively.
• A declaration by the professional certifying that all compliances have been made.

Step 5: Filing of Forms With MCA

All these documents will be attached to the SPICe+ Form, SPICe-MOA and SPICe-AOA along with the DSC of the Director and the professional, and will be uploaded to the MCA site for approval. The Pan Number and TAN is generated automatically at the time of incorporation of the Company. There is no need to file separate applications for obtaining PAN Number and TAN.

Step 6: Issue of the Certificate of Incorporation

On verification, the Registrar of Companies (ROC) will issue a Certificate of Incorporation and we can commence our business.

Checklist For Registering OPC

• Minimum and Maximum of one member. 
• A nominee should be appointed before incorporation.
• Consent of the nominee should be obtained in Form INC-3.
• The name of the OPC must be selected as per the provisions of the Companies (Incorporation Rules) 2014.
• Minimum authorised capital of Rs.1 lakh.
• DSC of the proposed director.
• Proof of registered office of the OPC.

FAQs of OPC(One person Company):

Q1: What is an OPC (One Person Company)?

An OPC is a type of business structure where a single person holds the entire share capital and assumes complete control over the company's operations. It combines the benefits of limited liability with the simplicity of a sole proprietorship.

Q2: Can a foreign national or NRI form an OPC?

Yes, a foreign national or Non-Resident Indian (NRI) can form an OPC in India, provided they comply with the applicable rules and regulations, including residency and directorship requirements.

Q3: What is the minimum and maximum number of directors and shareholders in an OPC?

An OPC can have a minimum of one director and one shareholder, who can be the same person. However, the maximum number of directors allowed is fifteen.

Q4: Is it mandatory to have a nominee for an OPC?

Yes, an OPC must nominate a person as a nominee director. The nominee will take over the management of the OPC in case of the director's death or incapacity.

Q5: Can an OPC be converted into a private limited company?

Yes, an OPC can be converted into a private limited company subject to certain conditions and regulatory requirements. It allows the OPC to expand its operations and take advantage of the benefits offered by a private limited company structure.

Q6: Can an OPC raise funds from investors?

No, an OPC cannot issue shares or raise funds through the issuance of securities. It can only receive funding through personal funds or loans taken in the name of the company.

Tags regarding OPC(One Person Company):

Sole Proprietorship, Director, Shareholder, Nominee, Incorporation, Legal Compliance, Business Registration, Business Formation, Entrepreneurship, Company Formation, Small Business.

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