ONE PERSON COMPANY REGISTRATION @ Rs 9500
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Register your one person private limited at Rs 9500. One Person Company (OPC) is another type of business by Companies Act, 2013. It is crossover type of business where a sole ownership concern can get a corporate standpoint. An OPC is a crossover structure, wherein it consolidates a large portion of the advantages of a sole ownership and an organization type of business.
It has just a single individual as a part who will act in the limit of an executive just as an investor. In this manner, it gets rid of the problems of finding the correct sort of co-accomplice/s for beginning a business as enrolled element. The best part is, legitimate and money related risk is restricted to the Company and not the individual part.
Single Owner
An individual, who is an Indian resident and citizen of India will be qualified to form a One Person Company.
Directors
Must have at least One Director, the Sole Shareholder would himself be able to be the Sole Director. The Company may have a most extreme number of 15 Directors.
Capital Requirement
A one person company can be begun with any amount of capital. On the off chance that the paid up capital of the organization incresed to 50 lacs or more the OPC will turn out to private limited.
Ease Of Raising Fund
Like a Private organization, One Person Company can raise loan through funding, budgetary establishments, heavenly attendant speculators and so on. A One Person Company can raise supports subsequently graduating itself to a private limited company.
Less Compliance
One Person Company need to confront little consistence trouble when compared with private limited company, thus One Person Company would more be able to concentrate on other useful and center territories.
Entire Control With Single Person
This prompts quick dynamic and execution. However he/she can name upto 15 Directors in the OPC for managerial capacities.
Opt For Small Business Entity
OPC is reasonable just for Individuals. OPC when crosses the Paid up share capital of Rs.50 Lakhs or Turnover of Rs.2 Crores. In any case OPC should be changed over into Private Ltd Company.
Single owner
An individual, who is an Indian resident and citizen of India will be qualified to form a One Person Company.
Directors
Must have at least One Director, the Sole Shareholder would himself be able to be the Sole Director. The Company may have a most extreme number of 15 Directors.
Capital requirement
A one person company can be begun with any amount of capital. On the off chance that the paid up capital of the organization increased to 50 lacs or more the OPC will turn out to private limited.
Less compliance
One Person Company need to confront little consistence trouble when compared with private limited company, thus One Person Company would more be able to concentrate on other useful and center territories.
Control with single
person
This prompts quick dynamic and execution. However he/she can name upto 15 Directors in the OPC for managerial capacities.
Applicability
OPC is reasonable just for Individuals. OPC when crosses the Paid up share capital of Rs.50 Lakhs or Turnover of Rs.2 Crores. In any case OPC should be changed over into Private Ltd Company.
FAQ on One Person Company
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What is the minimum requirement to form a one person company?Registering a company is simple process with shoplegal. A minimum of One person required to be appointed as directors cum shareholder. The directors and shareholder required to provide the following proofs – Copy of PAN, Copy of Aadhar, Driving license, Voter id, Passport – Any one as permanent address proof and Copy of Telephone bill, Electricity bill, Mobile bill or Bank statement – Any one as Proof of present address.
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What way one person company is differentiated from proprietorship ?Limited liability which means the shareholder of a One Person company is legally responsible only to amount he subscribed as share capital of a company. Unlike traditional proprietorship, the liability of the shareholder with respect to one person company is limited.
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What is authorized capital and paid up capital?Authorised capital is the maximum amount of shares that can be issued by company. On the other part, paid up capital is the amount of shares issued and subscribed by the shareholder of the company. Authorised capital can be increased as and when required post incorporation in case of any requirement to issue additional shares to the shareholder.
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Is it mandatory to deposit paid up capital subscribed by shareholder in bank account?Yes, It has to be submitted after registration of company, After company got incorporated open a bank account in company name and then bring in the capital subscribed to company account, Commencement of business to be filed with 180 days of Incorporation
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Can foreigner or foreign company or nri register a one person company?NO, it is not possible for NRI, FOREIGNER or FOREIGN entity to form one person company.
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Is it mandatory to setup office for registering company in india?Yes, every company proposed to be registered in India must have a registered office all communication related to the company is sent by the Ministry of Corporate Affairs, GST office, Banks, financial institutions, etc., The registered office of a company can be in any part of India.
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How to check availability of name with ministry of corporate affairs?You can share names with SHOPLEGAL on the name availability link. Please note that Shoplegal will just provide available names, based on search for similar names already registered with MCA.
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Is gst registration mandatory for one person company to start business?GST registration is mandatory for certain business to start business, Service industry GST is not mandatory for turnover of upto 20 lakhs and Manufacturing and Trading industry GST is not mandatory for turnover upto 40 lakhs