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|| One Person Company Incorporation and Annual Compliance ||

Whenever we plan to establish a company it's necessary to overview all the benefits, features, process and eligibility. One Person Company Registration is one such company that delivers excellent benefits. OPC Registration is ideal for the businessperson who is willing to start a venture alone. Before stepping into the world of companies it is important for you to have a little overview of what an OPC Company is.

One Person Company Meaning

One Person Company (OPC) as the name suggests the answer itself -is a company commence with only one member. One person can perform as a shareholder and a director. one person company registration is a separate legal entity separated from its promoter, it has its assets and liabilities. The promoter is not individually liable to repay the debts of the company. Only a single person can open an OPC company

OPC Company Registration

The OPC registration can be made online and registered under the Company Act, 2013 with MCA & ROC &. The registration states that only one person can be the director & shareholder of the company. OPC company registration rules are discussed below, kindly go over the rules for simple registration. One person company in India is separate from the others. That is it requires only ‘One person’. Citizens and Residents of India are suitable to incorporate a OPC company in India. One nominee person is also required in OPC company in India. Nominees shall not participate in shareholding of OPC registration. You can easily register one person company under the edges of the Companies Act, 2013. The laws are simple that is the single-person company to work as a company without the complexity of having partners. This helps more people to come first to commence a business. The OPC is fit for small companies where the yearly turnover is not expected to cross Rs. 2 Crores. If an OPC crosses a turnover of above Rs 2 crores or has a paid-up capital more than Rs 50 lakhs. OPC registration online needs to be transformed into a private or public within 6 months. In OPC Registration it’s essential to note that the candidate or the director must be Indian Resident.

Requirements for One Man Company- Requirements of OPC

Register one person company you have to fulfil the following requirements. So, have a look at the following requirements

One Shareholder
One 1 Nominee
Minimum capital as you think fit
One Director
Only Indian residents can be Shareholder & Nominee
DIN (Director Identification Number) for all Directors
The directors and shareholders can be the same individual
Director must be an Indian resident
DSC for 1 Promoters & 1 witness
Fulfilling the requirements let’s have a look at the benefits of registering One Person Company/OPC company.

The advantages of registering an OPC Company:

A Separate legal entity
Easy Funding
Greater opportunities, Limited liability in OPC company
Least Compliance Requirements
Benefits in Taxation

What we provide inside the package?

We are offering the most attractive package of OPC Company registration in which you will get all requisite approvals and certificates by MCA which is mandatory as per new provisions of Companies Act, 2013. Our deliverables as-

Name Approval
MOA and AOA
MCA Registration Process
Certificate of Incorporation
DIN of one director
DSC of one director
PAN and Tan Registration of Company
Provident Fund Registration
ESIC Registration
Profession Tax Registration, if applicable
Post-Incorporation Compliance- 1st Board Meeting, Auditor Appointment, INC-20A, Statutory declaration, Registers, Records etc
Dedicated support of CA/CS

Document Required

MCA Registration of One Person Company does require some major documents and forms. So, before enlisting the documents required let’s have look over the necessary forms for one person company registration:

Copy of PAN Card of owner
Passport size photograph of the owner
Copy of Aadhaar Card/ Voter identity card
Copy of Rent agreement (If rented property)
Electricity/ Water bill (Business Place)
Copy of Property papers (If owned property)
Landlord NOC (Format will be provided)
Passport (Foreign Nationals & NRIs) or PAN Card
Scan copy of Current Bank Account Statement, Phone or Mobile Invoice, Electricity or Gas Invoice

Annual Compliance for OPC

OPC is under obligation to submit annual reports. OPC Annual compliance may includes Auditor appointment , statutory auditing , annual ROC filing , DIN KYC of director and Income Tax filing. Apart from this TDS Filing , GST Filing , Provident Fund Filing etc. compliances may be applicable to OCP on certain conditions.
Furthermore, it is important for One Person Company to maintain the OPC compliance with Companies Act as well as the Income Tax Act, and other regulations if applicable.

How Chheda & Associates help?

Our Professional Services helps to choose the correct structure, pre and post Incorporation Service which are cost-efficient and competing with different businesses. We work for customer benefits- Aim is to make the customer happy with our prosperous services.
For getting any kind of assistance related to your business, contact with our professionals on info@chheda.net.in

Disclaimer:- The materials provided herein are solely for information purposes and shall not be treated as solicitation in any manner and for any other purpose whatsoever. It shall not be used as legal opinion and not to be used for rendering any professional advice. The material s written on the basis of the provision applicable as on date of writing of this article.