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Register One Person Companies in India and build an empire of your own, FilingFirst offers legal and financial services for entrepreneurs.
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Register One Person Companies in India and build an empire of your own, FilingFirst offers legal and financial services for entrepreneurs.
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Register One Person Companies in India and build an empire of your own, FilingFirst offers legal and financial services for entrepreneurs.
Also Get Absolutely Free
Company PAN & TAN
PF + ESIC + Professional Tax
Domain Name + 1yr hosting + 10 emails
Website Development with 50% off
4.9/5 10k+ Happy Costumers
A one-person company is a company that has only one person as its member. The owner of the company acts both as a director and a shareholder of the company. Entrepreneurs whose businesses lie in the early stages prefer OPC.
One Person Company in India are regulated by the Companies Act, 2013.
An individual who is a resident, as well as a citizen of India. • the paid-up capital share should not Rs. 50 lakh and turnover breaches Rs. 2 crore mark, an OPC should be converted into a Private Limited Company. One nominee is mandatory
Once a OPC company is registered, it shall be valid for lifetime. However, Company must have fulfilled the legal compliances such as filing of annual return and other mandatory forms.
A one-person company is a company that has only one person as its member.
One Man Company in India are regulated by the Companies Act, 2013.
An individual who is a resident, as well as a citizen of India.
Once a One Person Company is registered, it shall be valid for lifetime.
An individual can start the business with fewer resources and tasks such as conducting board meetings or organising sessions are not considered important.
An individual can channel his/her efforts and exercise supreme ownership over the company. Also, it benefits small-scale and large scale organisations such as MSMEs and SMEs by empowering them to stay ahead of the game.
While dealing with government authorities, there is a level of transparency that exists. A single person takes important decisions without manipulating any issues.
Small-scale industries have prospered and are able to raise funds because of several income tax benefits.
Experts at Filings First will review your documents and information. Experts will help you in applying for the digital signature certificate and start the step-by-step process of Incorporation
Before submitting an application for company name reservation, Filings First shall first check the name's availability on the MCA and IP India portals and make the name application accordingly. We shall draft the MoA, AoA and other related documents in the meanwhile, while we are waiting for the name approval from the Ministry.
Upon receipt of name application, we shall file the incorporation application for approval. We shall also submit applications for PAN, TAN, and DIN allocation.
Once the MCA approves our application, we shall obtain the Certificate of Incorporation.
In order to figure out the process, it is necessary to pay heed to the advice solicited by experts. Consult an assigned relationship manager who might help with the OPC registration.
Upon receiving the digital signatures, the company officials can write an application for OPC name reservation under the SPICe category. After that, they can submit the MOA and AOA documents, draft the application letters to get the PAN and TAN and consequently wait for the certificate of incorporation.
Finally, it takes 12-15 working days for the OPC to get registered.
Yes, with the proper documentation, a corporation may be registered at either a commercial or home location. Any communications from the MCA and other relevant agencies will be received at the registered office. The address will also be visible on the Ministry portal.
If there are more than one director, the board must meet at least once within each fiscal year. An independent auditor must also audit the financial statements and accounts. Then, as part of Annual Compliance, it must submit form AOC - 4 and MGT - 7 within the specified timeframe.
Unless it is an obligatory conversion, an One man Company may convert into a private or public company once two years have passed from the date of incorporation.
OPC is not permitted to carry out non-banking financial activities, such as buying corporate securities, and it is not permitted to be changed into a Section 8 company.
The preparation or disclosure of a Cash Flow Statement that is a part of an OPC's financial statement is not required.
The biggest difference between the two is that OPC members have limited liability, while members of sole proprietorships are subject to unlimited liability. A single proprietorship does not have the status of a separate legal entity like an OPC does. An OPC continues to exist indefinitely, unlike a single proprietorship, which ends when its owners pass away or retires.
When an OPC's paid-up capital exceeds 50 lakh rupees or its average annual turnover over a specified time frame exceeds 2 crore rupees, a conversion into a private or public company is necessary. Regardless of how long OPC has been in operation, the forced conversion will go into effect.
If there is more than one director, the board must meet at least once each fiscal year. An independent auditor must also audit the financial statements and accounts. Then, as part of Annual Compliance, it must submit forms AOC - 4 and MGT - 7 within the specified timeframe.
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