An OPC is the most modern form of business in India proposed by the Companies Act, 2013 and understand for a-One Person Company. A forward-thinking idea was launched which promotes the incorporation of micro-businesses and persons with entrepreneurial ideas and to give a boost to entrepreneurs who have high potential to begin their venture by permitting them to build a single person company. You can easily register one person company under the outlines of the companies Act 2013 and the laws thereto, where it was made viable for a single person company to work as a company without the complexity of having partners. This encourages more people to come forward to commence a business. The OPC is fit for small businesses where the turnover is not likely to cross Rs. 2 Crores. IN OPC Registration it’s important to note that the nominee or the director should be Indian Resident. One Person Companies are benefiting largely in developing the overall economy of India. More and more Entrepreneurs are coming up and commencing their business. By incorporation of OPC, the company can enjoy the benefits in banking point and are eligible for Banking loans, credits. So, if you want to start up your own business, you don’t have to worry about all the network and slow processes.
Choose OPC because
The following is the eligibility guidelines for OPC Registration in India.
- Can have more than 1 directors, but the shareholder cannot be more than 1.
- Not affected by the death of a member or shift in ownership.
- Effortless to set up and maintain comparatively.
- Restricts the liabilities of its members
- Minimum Paperwork is needed.
- Can work as Stockbroker or Sub-broker.
- Not multiple compliances.
- No interference from any third party is seen.
- Even no person is permitted to incorporate more than 1 one-person company.
- Limited Liability
- Continuous Existence
- Easy transfer of ownership
- Greater Credibility
- Ability to own property
To Be Given By One Person Company Director
- Passport (Foreign Nationals & NRIs) or PAN Card
- Passport, Voter’s ID or Driver’s License
- Current Bank Account Statement/Phone or Mobile Invoice/Electricity or Gas Invoice
- Passport-sized photo
- Specimen autograph or impression (blank document with autograph)
Note: The OPC director as a mandate should self-attest the first three documents. If an NRI or a foreign national, all the document sheets should be notarized without fail (if at present in India or a non-Commonwealth nation) or apostilled (that is, living in a Commonwealth country).
Documents Necessary For The Registered Office
- Current Bank Account Statement/Phone or Mobile Invoice/Gas or Electricity Invoice)
- Rental Agreement written in the English language
- N-O or No-objection Certificate from the concerned property landowner
- Property or Sale Deed printed in English (if the property is owned)
Note: Your office space which is registered needs to be a commercial area; however, it can be your house of residence as well