About One Person Company (OPC) Registration
One Person Company (OPC) is a type of business entity that can be incorporated in India. As the name suggests, an OPC is a company that is owned and managed by a single person. This means that there is only one shareholder and director in an OPC.
OPCs were introduced in India through the Companies Act, 2013 as a way to encourage small entrepreneurs to start their own companies without having to form a partnership or a traditional private limited company.
OPCs are a popular choice for small business owners, consultants, and freelancers who want to enjoy the benefits of a limited liability company without the hassle of having multiple shareholders or directors.
Steps for One-Person Company Registration
Step 1: Choosing a Name for the OPC
The first step in the OPC registration in Gurgaon and Faridabad process is to choose a unique name for your company. The name of your company should not be similar to any existing company name and should not violate any trademark or copyright laws. Once you have chosen a name for your company, you need to conduct a name availability search on the Ministry of Corporate Affairs (MCA) website to ensure that the name is available for OPC registration in Gurgaon and Faridabad. The process eliminates the need for stakeholders to reserve a name separately before filing SPICe, as they can apply for one name for the proposed company through the same form.
Step 2: Obtaining a Digital Signature Certificate (DSC)
The next step in the OPC registration in Gurgaon and Faridabad process is to obtain a Digital Signature Certificate (DSC). A DSC is an electronic signature that is used to sign digital documents. The DSC is issued by a certifying authority and is valid for a period of two years. The DSC is required for filing the electronic forms for OPC registration.
Step 3: Obtaining a Director Identification Number (DIN)
The next step in the OPC registration in Gurgaon and Faridabad process is to obtain a Director Identification Number (DIN). The DIN is a unique identification number that is issued by the Ministry of Corporate Affairs to all directors of Indian companies. The DIN is required for all directors of the OPC. The DIN can be obtained by filing Form DIR-3 on the MCA website along with the required documents.
Step 4: Filing the OPC Registration Forms
The next step in the OPC registration process is to file the registration forms with the Registrar of Companies (ROC). The following forms need to be filed for OPC registration in Gurgaon and Faridabad:
- Form INC-32 (SPICe): The form is also known as the Simplified Proforma for Incorporating Company electronically (SPICe). This form is used for the incorporation of the OPC. The SPICe form (INC-32) allows stakeholders to access 5 different services, namely Name Reservation, Allotment of Director Identification number (DIN), Incorporation of New Company, Allotment of PAN, and Allotment of TAN, through a single application.
- Form INC-33 (e-MOA): This form is used for the memorandum of association (MOA) of the company. The MOA is a legal document that contains the objectives of the OPC company and the scope of its activities.
- Form INC-34 (e-AOA): This form is used for the articles of association (AOA) of the company. The AOA contains the rules and regulations for the internal management of the OPC company.
Step 5: Payment of Registration Fees
The final step in the OPC registration in Gurgaon and Faridabad process is to pay the registration fees. The registration fees for OPCs vary depending on the authorized capital of the company. The fees can be paid online on the MCA website using net banking, credit card, or debit card.
Reasons to Incorporate One Person Company (OPC)
Choosing the right business structure is crucial for any entrepreneur. It determines the legal, operational, and financial aspects of the business. In India, entrepreneurs have several options, including Sole Proprietorship, Partnership, Limited Liability Partnership (LLP), Private Limited Company, and One Person Company (OPC). Among these, OPC is gaining popularity among entrepreneurs, especially those who want to start a business with limited liability and a single owner. Let’s discuss the reasons to register one person company (OPC)
1. Easy to Incorporate
Incorporating an OPC is a simple and hassle-free process. It requires only one person as a director and shareholder, which reduces the documentation and compliance burden. The incorporation process is similar to that of a Private Limited Company, but with fewer formalities.
2. Limited Liability Protection
One of the main advantages of OPC is limited liability protection. It means that the liability of the shareholder is limited to the extent of the capital invested in the company. In case of any legal or financial liability, the personal assets of the shareholder are not at risk. This protects the personal assets of the shareholder and gives them peace of mind.
3. Sole Ownership and Control
OPC is an ideal option for entrepreneurs who want to have full ownership and control over their business. Since there is only one shareholder and director, the decision-making process is fast and efficient. The shareholder can make all the decisions related to the business without any interference or opposition.
4. Better Credibility
An OPC Registration in Gurgaon and Faridabad has better credibility and reputation in the market than a Sole Proprietorship or Partnership firm. It has a separate legal entity, which makes it easier to attract investors, lenders, and customers. It also provides a sense of professionalism and stability to the business.
5. Easy Funding
OPC Private Limited is eligible to raise funds through equity or debt. It can issue shares to investors, borrow money from banks or financial institutions, or take loans from the government. This makes it easier for entrepreneurs to raise capital for their business and expand their operations.
6. Tax Benefits
OPC Private Limited is eligible for all the tax benefits available to Private Limited Companies, such as lower tax rates, deductions, exemptions, and credits. It also allows the shareholder to take advantage of the tax benefits available to individuals, such as deductions for investment, insurance, and savings.
7. Perpetual Succession
OPC Private Limited has perpetual succession, which means that the company continues to exist even after the death or incapacity of the shareholder. The ownership and control of the company can be transferred to the nominee designated by the shareholder in case of death or incapacity. This ensures the continuity of the business and protects the interests of the shareholder and the company.
We welcome your inquiries and can be reached via email at firstname.lastname@example.org
Choose Our Services for OPC Registration
Choosing the right service provider for OPC Private Limited registration can be a challenging task for any entrepreneur. One must consider several factors, such as reliability, experience, expertise, and cost-effectiveness while selecting CA firms in Gurgaon or Faridabad for OPC registration services. Among the several options available in the market, we, as a CA firm in Gurgaon and Faridabad, provide reliable, efficient and cost-effective OPC registration services in Gurgaon and Faridabad.
Here are a few reasons why you should choose us for OPC registration services in Gurgaon and Faridabad:
1. Expertise and Experience:
We are a team of highly qualified Chartered Accountants in Gurgaon and Faridabad, who have vast experience and expertise in OPC registration services. Our team understands the complexities involved in the process of OPC registration in Gurgaon and can provide the most efficient and hassle-free services to our clients.
2. Timely Completion of Work:
We understand the value of time and the importance of meeting deadlines. We a leading CA firm in Gurgaon and Faridabad ensure that all our services are provided to our clients within the given timeline. Our team is committed to completing the work within the stipulated time frame without compromising on the quality of work.
3. Affordable Pricing:
We understand that the cost of OPC registration services is an important factor for our clients. Therefore, we offer affordable pricing for our services, which makes us a cost-effective option for entrepreneurs looking for OPC registration services in Gurgaon and Faridabad.
4. Client-Focused Approach:
We believe in providing personalized services to our clients. We one of the best CA firms in Gurgaon and Faridabad understand that every client has unique requirements, and we tailor our services to meet their specific needs. Our client-focused approach helps us to build long-term relationships with our clients.
5. Transparent and Ethical Practices:
We follow a transparent and ethical approach in all our business practices. We ensure that all our clients are provided with complete information about the services we offer and the charges involved. We a leading CA in Gurgaon and Faridabad believe in maintaining complete transparency with our clients and follow ethical practices in all our dealings.
6. Effective Communication:
We believe that effective communication is the key to building strong relationships with our clients. We one of the CA firms in Gurgaon and Faridabad ensure that all our clients are provided with regular updates about the progress of their work. We are always available to answer any queries or concerns that our clients may have.
If you are looking for reliable, efficient, and cost-effective OPC registration services in Gurgaon and Faridabad, then we are the right choice for you. Our team of highly qualified Chartered Accountants has the expertise and experience to provide hassle-free services to our clients. We follow a client-focused approach and maintain transparent and ethical practices in all our dealings. Contact us today to know more about our services and how we can help you with your OPC registration needs.
We welcome your inquiries and can be reached via email at email@example.com
FAQ On One Person Company
Q: How to inform RoC about change in membership of OPC?
A: To notify the RoC about a change in membership of an OPC, one must submit Form INC-4. This form should be filed if a member of the OPC ceases to be a part of the company due to reasons such as death, incapacity to contract, or change in ownership. The form must include information about the new member who will be joining the OPC.
Q: Are there any threshold limits for an OPC to be compulsorily converted into a private or public company?
A: Yes, an OPC must be converted into a private or public company if either its paid-up share capital exceeds fifty lakh rupees or its average annual turnover of the immediately preceding three consecutive financial years exceeds two crore rupees.
Q: What is the procedure to notify the RoC that an OPC has crossed the threshold limits and needs to be converted into a private or public company?
A: To intimate the RoC that an OPC has exceeded the threshold limits and needs to be converted into a private or public company, the OPC must file Form INC-5 with the RoC. This form serves as a notification to the RoC and should be submitted by the OPC once it has crossed either of the threshold limits – the paid-up share capital limit of fifty lakh rupees or the average annual turnover limit of the immediately preceding three consecutive financial years exceeding two crore rupees.
Q: What are the eligibility criteria for acting as a member of an OPC?
A: To act as a member and nominee of an OPC, the person must be a natural individual who is an Indian citizen and resident in India. The term “resident in India” refers to a person who has stayed in India for a period of not less than 182 days during the immediately preceding one financial year. Only individuals who meet these eligibility criteria can act as members of an OPC.