One Person Company (OPC) is a new concept in India from 2013. A Single Person, who is an Indian National and Resident in India can incorporate a Limited Company. CompaniesInn provides cost effective OPC Registration with India’s First and State of the Art E-Lawyering Process.
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ONE PERSON COMPANY (OPC)
One Person Company or OPC means a company which has only one person as a member.
An OPC is classified as a private company under Companies Act. OPC has all benefits of a private limited company such as protecting personal assets from business liability, separate legal entity and perpetual succession. One Person Company (OPC) is a Company registered with ONLY ONE PERSON as its shareholder.
A One Person Company can have owned by Only a natural person who is Resident in India and Citizen of India. No corporate entity can be as shareholder (owner) of a One Person Company.
There is no minimum or maximum paid-up capital restriction for One Person Company. It can be converted into private limited or public limited at any time.
One Person Company is not allowed to take any partner (Shareholder). But, OPC can convert into private limited or public limited and add partners(shareholders).
COMPANY NAME
The name of a OPC shall end with the words '(OPC) Private Limited'. Proposed Company Name shall comply with the Company Name Availability Guidelines under Companies Act 2013
There are TWO ways for reserving a name for a New One Person Company.
a. RUN (Reserve Unique Name) is an easy and web-based application for reservation of a Company Name. The name approved under RUN Process is valid for a period of 20 days from the date of approval. In one application, Two names can be submitted for approval under RUN process. If the application is rejected, the another Two more names can be submitted again. If that also rejeccted by ROC offce, a fresh application to be fiiled with fresh filing fee.
b. SPICe (Simplified Proforma for Incorporating Company Electronically) Incorporation Filing process is an integrated single point application for Reservation of Company Name, Allotment of DIN for Directors and Incorporation of a New Company along with allotment of Permanent Account Number (PAN) and Tax Collection and Deduction Number (TAN) to the New Company. Under SPICe application, only ONE name can be submitted for approval.
SHARE CAPITAL
There is no minimum capital (Authorised or Paid-up Capital) requirement for registering an OPC.
The registration fee payable to the Registrar of companies depends on the different slabs of Authorised capital of the company.
The First Shareholder must bring the subscribed capital to the Company with in 60 days of Company Incorporation and the Company must issue share certificates to the subscribers.
REGISTERED OFFICE ADDRESS
Registered Office refers to the official correspondence address of a company or its principal place of business. The address of the Registered Office will be used for all official communications of the company.
WHO CAN REGISTER OPC?
Only a natural person who is an Indian citizen who is resident in India or otherwise not less than 120 days during the last days during the immediately preceding financial year.
HOW MANY OPC ONE PER CAN CREATE?
As per the rules, one person can create only ONE OPC and can be nominee in another OPC.
You will be directed to India's First and the State of the Art E-Lawyering Interview by CompaniesInn . Complete the online Interview and generate Company Registration Documents for execution by Shareholders and Directors.
Execute the documents by Shareholder, Nominee Shareholder and Director(s) and submit to CompaniesInn with supporting such as Identity and Address documents, Registerd office Adress Proof and NOC and other additional documents.
RUN (Reserve Unique Name) is a web-based application for reserving the Company Name.
The name approved under RUN Process is valid for a period of 20 days from the date of approval. Company Incorporation documents are to be filed within the validity period of Company Name.
Company Registration filing consists of preparation and filing of the flowing E-Forms:
1. e-Form INC-32 – SPICe Application
2. e-Form INC-33: e-Memorandum of Association (SPICe MoA)
3. e-Form INC-34: e-Articles of Association (SPICe AoA)
All the documents executed and attested as per documentation requirements has to be attached to the e-Form INC-32 / 33/ 34 and the e-Forms to be digitally signed with the Digital Signature Certificate (DSC) of all the proposed shareholders /representatives.
The CRC verifies the application and if found the documents are in order, the Central Registrar of Companies shall register the Company and issue the following:
1. Company Incorporation Certificate
2. DIN for Directors
3. Permanent Account Number (PAN)
4. Tax Collection and Deduction Number (TAN) to the New Company.
The following documents are required on case to case basis:
Shareholder, Nominee Shareholder and Director(s) have to submit Identity Proof and Latest address proof
Acceptable Documents
Shareholder to sign the folliwing documents:
Busines Credibiity
An OPC, being limited company will have more business credibiility than a Proprietorship.
Limited Liability
Like any other incorporated business, a limited company is a limited liability organization. The owner's liability is limited to the extent of shares held in the company and ends once he pays for the shares.
Protection of Personal Assets to owners
Since the liability of owner is limited, the personal assets of the shrehodler is protected against business risk as the company's liability is not the owner's liability.
Perpetual Existence
Assets and liabilities of a company belongs to itself and do not belong to the shareholders. Hence, the company will continue to be in existence even if the owner changes
Can sue and be sued
A limited company is like an artificial person created by law. Like any other person, it can sue and be sued before the court of law. This means that if a company defaults, others can take legal action against the company and likewise, the company can tak