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One Person Company (OPC) Registration
One Person Company (OPC) is a very new concept that was firstly introduced in India through the Companies Act, 2013 to encourage self-employment. In one personal company, there is only one shareholder is required who is an Indian citizen and Indian resident. The same person can act as both the director as well as a shareholder of the company. There can be more than 1 director, but not more than 1 shareholder.
Entrepreneurs who are capable of starting a venture on their own can make use of OPC in India. One of the biggest advantages of a One Person Company is that there can be only one member in an OPC, while a minimum of two members is required for incorporating and maintaining a Private Limited Company or a Limited Liability Partnership (LLP). At the same time just like a Private Limited Company, a One Person Company is also a separate legal entity from its promoter, offering limited liability protection to its sole shareholder, while having continuity of business.
Shareholder nominates another person as a nominee in case of death or incapacity of the shareholder. A single person cannot incorporate more than one OPC or be a nominee of more than one OPC.
In case, if an OPC has paid-up share capital that exceeds Rs. 50 lakhs and the annual turnover is above Rs. 2 crores, then it is obligatory for them to convert into a private limited company or public limited company within six months.
It is governed by the MCA (Ministry of Corporate Affairs) and regulated by the Companies Act, 2013 and the Companies Incorporation Rules, 2014.
CS Club India helps you to register your Company across India at a very reasonable price. You can register your Company with us in a few easy steps. We will provide you facilities at the time of Incorporation. Such as:
- Name Reservation (RUN Application)
- PAN & TAN
- Draft of your Company’s constitution (MOA & AOA)
- Bank Account (PNB by default)
- Certificate of Incorporation
- Share Certificates
- GST Registration Certificate
The benefits or advantages of registering a private limited company are enlisted as:
- The company as a Separate Legal Entity
- Better than Sole Proprietary or Private Limited Company for a single owner
- Varies relaxations in Acts and Rules as a comparison to other Companies
- Easy transfer of ownership
- No minimum capital is required
- Numerous Taxation Benefits
- Easy to get investment/ funding for your Business.
- Business Expansion and Diversification
- Enhanced Brand Image and Improved Trust Factor
- Limited Liability
- Legal Security
- Capacity to Sue and Be Sued
- Better Compliance and Good governance